Everything you Need to know about Mont Kiara Condominiums

Luxurious and exclusive condominiums in Malaysia are commonly sought after addresses and highly popular investment choices – high-end condominiums such as 10 Mont’ Kiara, MK 28, and Mont’ Kiara Meridin possess a huge appeal due to their high returns on investment and competitive pricing compared with landed property.

Before you decide to buy or move into a condominium, here is what you need to understand about the commitments required from you:

Payments

Condominium purchases often involve a monthly service charge to cover the cost of maintenance and the management of common areas such as lifts, swimming pool, gym, tennis court, landscaped gardens, security services, etc., which will increase over time due to inflation and other aspects beyond your control.

The Sale and Purchase Agreements, Building & Common Property (Maintenance & Management) Act, 2007 and the Strata Titles Act should be carefully studied to understand the contributions to the funds involved.

Tolerance

You will need to have some degree of tolerance to live in a condominium, as residents share walls, floors, ceilings, hallways, entrances and parking areas with their neighbours. Although there is mutual respect for one another’s right to the quiet and peaceful enjoyment of their homes, you will still have to accept the presence of boisterous children at the swimming pools or the sounds of vacuuming on a weekend.

Community Rules

Condominiums usually come with a set of by-laws, rules and regulations for the benefit of its residents, and are considered binding. They govern almost everything from special assessments and the election of residents’ association officers to the allocation of parking space and the use of recreational facilities. Anyone flouting the by-laws can be fined and face punishments. You can only be happy living in a condo if this is acceptable to you.

Volunteering Time

As a condominium owner, you automatically become a member of the condo’s Management Committee (MC), which means volunteering your services for special projects or tasks which benefit the condominium as a whole, or turning up for meetings to discuss repairs etc. By willingly pitching in, you will earn the gratitude and respect of your fellow neighbours, and help build a closer community.

Buying a condominium should be a carefully-considered decision, based on a deep understanding of the shared responsibilities and the social, financial, and legal factors involved in the purchase. Similar to the purchase of any other type of house, you will have to think carefully whether it is the ideal place for you and your family in the long term.

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