In addition to that, no building is ever built to last forever. The developer delivers the property subject to a defect liability period contractually or imposed by the law and then the longevity of the building is then in the hand of its occupants. There is always an expiry date even with timely services and parts replacement from time to time. Owners need to be prepared for further reinvestment to get the maximum values out from the property.

With the duly passed and yet to be effective Strata Title (Amendment) Act 2013 as well as the Strata Management Act 2013, the legal framework is playing catching up. The practical issue is whether the occupants have the correct attitude and mindset living in a Strata scheme?

For ages, we have practised the concept of “My home, my kingdom” where we have fenced up the boundary of our piece of land and sit on the very throne of our own building that we called “home”. Then few kingdoms grouped up together to form a small community where we usually called “Taman”.

Back then, living in Taman has been harmonious and governed by the voluntary “Rukun Tetangga” as a mean of self-help and cross guarding for community living. Not to forget also the Muhibbah under a subject in school named Civic that tough us how to behave as a citizen of a community which was since then replaced by Moral in year 1989.

There was not much issue of security and sharing of common facilities (even with no form of ownership like a strata scheme) where everyone helped out each other to maintain a peaceful living surrounding.

Strata living however is a different ballgame altogether. It works on the basis of an almost agape concept of “love your neighbours” rather than setting the boundaries of your “kingdom”.

Once you bought into a strata scheme, the involuntary community living starts. Like it or not, you need to work together with your fellow residents and homeowners to make your strata living a success.

Here is the deal: a strata owner is no different from a shareholder of a public listed company. While the legal regime expects a high standard of corporate governance from the management, it can still go haywire without the active participation of its owners. That’s why you better start loving your neighbours and take charge to first and foremost protect the very investment that you live in.

>> Chris Tan is the founder and managing partner of Chur Associates
>> The views expressed are entirely the writer’s own.

 
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