I believe some of the owners have encountered same problems like me. Looking at the annual report, especially the financial part, that seems like some unexplained transactions. Why I said so as when we in the meeting requested for a more detailed copy of accounting transaction, it's being ignored by the committees.
Now, since there's condo management fees, could anyone tell me what is secondment charges? Is the condo management fee covered the paid of the stuffs in the office of one particular condo? If that so, when you look at the quality of stuffs in the management office, you will be suspicious that the revenue being paid to them worth the five figure costs?
So, we were told that the management charges and sinking fund that we paid monthly did not afford the upcoming expenses. And, we all forced to accept a rise of 15% on our management charges. It sounded ridiculous but you have no choice!
As you and I may aware that the committee for the property does not receive any paid. However, could you accept a dictatorial joint management body or committee? Are they COMMITTEE or CONNEDMETTEE? With the passion to take care of the interests and benefits of all residences in the first place, but you have no idea what's behind the scene. The agenda brought out in the meeting was in fact being determined, we're just sitting to be notified rather than conducting a discussion and securing the consensus. Whatever suggestions given were easily ignored or turned down by the experienced joint management body or committee.
I was pissed. Later, I found out that this is a norm in almost all property management bodies. I sighed with this situation. I am hoping a hero appears to amend and better the situation. Property management company, sounds to me, like dictators. Residences have no much choice but to blindly accept just everything being reported, including all the fees, charges, and rises. I guess that is why there are a lot of people start ignoring paying the management fees and affected those who are playing by the rules.
I believe property management isn't easy. However, can we at least do it professionally with ethic? Someone out there with expertise in this field, you have a business opportunity right now! That breakthrough is very much relying on you! Perhaps, an artificial intelligence (AI) software or apps could ease our life's frustration!
We want a revolution for property management! Desperately!
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