Sunday, 16 March 2014

Urgent need for Condominium Owners Association

Today Condo owners have no place to go to get their problems and issues effectively resolved without taking long and undue delays. So they are frustrated and a Condo Owners Association (COA) will be sympathetic to them and look for ways to solve their problems. In short this will become a strong lobby group and the government and condominium industry will also benefit, not only the condominium owners.
A new Condominium Owners Association can look into issues such as increasing maintenance fees, misappropriation of funds, declining value in some condos, limited reserve funds, overpriced contracts, poor representation, poor construction, bad attitudes of Board of Directors towards the owners.
(Source: Sunday Times)

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