The name of the managing body is always presented as <\/em>MCST No. XXXX, <\/em>where the serial number is issued by the Building and Construction Authority (BCA).<\/p>\n\n\n\n For new condos, the property developer finds a condo management company within two months of the Temporary Occupancy Permit (TOP<\/a>). (Reference from SRX Property<\/a>.) After the first Annual General Meeting (AGM), control of the management committee is turned over to the property owners.<\/p>\n\n\n\n From there, property owners are free to:<\/p>\n\n\n\n In the event a management council is formed from the property owners, it\u2019s common for them to hire a Managing Agent. While you can choose not to care about what your MCST does, know that you are paying management fees and have a right to know whether your property is being properly stewarded.<\/p>\n\n\n\n It may vary based on the property type, but here are the basic responsibilities that most MCST have:<\/p>\n\n\n\n Identifying and partnering with a good MCST requires some effort and time on your part. Here are some things that you can do.<\/p>\n\n\n\n 1. Attend the AGMs<\/strong><\/p>\n\n\n\n From AGMs, you would be able to hear things like pool filter not being fixed or extra repairs needed for the property. If the issue repeats next year, maybe the management cannot afford to replace these things.<\/p>\n\n\n\n In that case, you can work to vote the MCST out. If you\u2019re unable or don\u2019t want to spend the effort to rally enough people to do so, you can factor in this point into your decision to sell your property.<\/p>\n\n\n\n Before buying any property, it also helps to ask residents about their management council. If they reply that they don\u2019t care or never took the effort to attend the AGMs, it\u2019s usually a sign that things are still fine. If they complain, then it\u2019s a sign of a potentially incompetent MCST.<\/p>\n\n\n\n 2. Look for asset enhancement, not just maintenance<\/strong><\/p>\n\n\n\n Maintenance is the most basic task of the MCST. But good condo management goes beyond that.<\/p>\n\n\n\n You should look at how the common areas have been enhanced over the years. Some examples would be the optimization of facilities. Asset enhancement definitely contributes toward capital appreciation.<\/p>\n\n\n\n 3. Check the management corporation\u2019s other clients<\/strong><\/p>\n\n\n\n Before buying, ask the Singapore property agent<\/a> who\u2019s managing the condo. Then check up on the management agent, corporation, etc. and see what other places they\u2019ve worked on. By researching their past clients, you will be able to have a better understanding of the work ethics of the MCST. Be sure to check the current status of their past clients to check the quality of their work such as the state of the public facilities, occupant satisfaction, etc.<\/p>\n\n\n\n Generally, most established property developers will not pick lousy MCSTs. Also, if the management has not changed from the first year, usually there is no need to ask.<\/p>\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" A Management Corporation Strata Title (MCST) is the management team that oversees a condominium or any property that has multiple owners and shared facilities. Not all facility management teams are equal. If you want to live in a condominium or work in an office that stays well-maintained through the years, you better choose a property … Read more<\/a><\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[],"class_list":["post-18989","post","type-post","status-publish","format-standard","hentry","category-accounting","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\tWhat exactly does the MCST do?<\/h3>\n\n\n\n
Here\u2019s how you can spot a good MCST<\/h2>\n\n\n\n
PARTNERSIP<\/strong><\/h5>\n\n\n\n
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