By now, you’re probably aware of the pros of living in a condo: swanky facilities, pet-friendly zones, 24/7 security—the list goes on. What you might not know is that packing these condos with perks and keeping them in tip-top shape takes a lot of effort from members of the Management Corporation (MCST). This, in turn, enhances the property value of your estate. If you don’t know what they do, here’s a deep dive into how the MCSTs make our condos a great place to live in.
What is a condo MCST & what do they do?
In a nutshell, the Management Corporation (MCST) is made up of all condo unit owners to make decisions regarding the upkeep and maintenance of the estate. Every year, the MCST holds an Annual General Meeting (AGM) where members can cast their votes on aspects of condo management such as electing a group of residents as council and appointing a managing agent (MA) to run daily operations. Hence, it is important for all owners to play an active role in the running and maintenance of the entire property.
Besides ensuring the general maintenance and operation of the estate, the MCST also organises community events that aim to deepen the relationships between condo residents.
If you’re a condo owner or tenant, it’s helpful to understand your rights and responsibilities and know the right people to go to for the resolution of issues. Your property value is not just influenced by location or amenities offered. The state of your MCST and its finances can play a big part, too. That’s why, when you do your part in maintaining the common areas, you’ll be able to prevent costly repairs for the entire community, increasing your property’s value.
1. Taking charge of regular maintenance & repairs of common areas
If you’ve ever seen a sparkling clean pool and carefully cultivated garden inside a condo, know that it’s all because of regular maintenance work. While being economical in spending, MCSTs also understand the need to maintain a standard of upkeep that’s acceptable to residents.
The pool at Marina Bay Suites.
Image credit: @iamgeraldleong via Instagram
Marina Bay Suites, for instance, draws up a 5-year life cycle budget yearly to ensure there are always sufficient funds for repairs in common areas such as lifts and facilities floor. The condo MCST speeds up the process by approving part replacements within the same day; most lift-related issues are resolved quickly and efficiently with their lift maintenance services provider. Furthermore, to keep up with rising costs, the MCST at Marina Bay Suites regularly and gradually raises the management fund and sinking fund contributions required of subsidiary proprietors, instead of one-time disproportionate increases when budgets run dry.
Similarly, the MCST at Allsworth Park also has a 5-year comprehensive lift maintenance contract with a third-party vendor to service the lifts in the estate regularly. This type of contract covers the necessary repair and routine replacement of parts for the lift at the cost on top of regular servicing.
On top of that, the Council uses a 5-year projection to review and increase its Sinking Fund Schedule, which is important to cover the costs of big-ticket items such as the upgrading of lift motors and cars.
Lifts are a major infrastructure in many condos. As they age, several parts undergo wear and tear, and increase the demand for regular maintenance. That’s why it’s crucial to have a proper life cycle budgeting of lifts in order to safeguard the safety of lifts and residents.
2. Implementing cost-saving features
Image credit: TheSmartLocal
With the cost of living at an all-time high, applying cost-cutting measures seems like a no-brainer. One such measure that has been applied in plenty of condos is the motion sensor lighting system.
At Le Quest, motion-activated lighting has been installed in corridors and common areas in an effort to save on electricity. On top of that, the condo also utilises a Building Management System to regulate energy usage which contributes to cost savings. This is complemented by the additional income generated through advertisements on e-notice boards in the estate, which also offsets the cost of these panels.
3. Introducing digital tools
Image credit: Marina Bay Suites
At condos like Marina Bay Suites, the MCST has simplified several processes such as facility booking and vehicle registration by introducing the iCondo App and its accompanying Vehicle Resident Management System (VRMS).
Via the app, residents may pre-register guests and their vehicles. After registration, guest vehicles’ license plates are detected by iCondo’s license plate recognition technology and can access the car park without having to interact with the guardhouse. Plus, visitors will also receive an invitation via SMS with directions to the guest car parking space prior to their arrival.
The VRMS solution works with delivery drivers and riders as well. Should drivers or riders stay beyond an allotted time, condo security will be notified. The VRMS solution has reduced the workload on security guards at Marina Bay Suites, and allowed the condo to decrease the number of guards it hires.
Through the app, council members or the MA can also receive feedback from residents, compile data, and use it to make decisions for the condo.
Some MCSTs use digital boards and TV panels to keep residents in the loop with condo news, upgrades, and closure of common facilities. At Le Quest, for example, if the lifts break down or BBQ pits require maintenance, an update will be posted on their digital boards, detailing the estimated timeline for the completion of repairs.
4. Organising regular social events to foster a tight-knit community
The pool at Allworth Park.
Image credit: @amandasoonrealtor via Instagram
During public holidays or weekends, the MCST may organise a slew of social events in which condo residents can participate. Allworth Park and Le Quest are 2 examples among many which have organised plenty of fun initiatives with catered food, drinks, and group activities for their residents in the past.
These social events have proven to be effective in building a tight-knit community among residents—which is important since MCSTs are self-governed. Besides events for residents, condos like Marina Bay Suites also hold anniversary parties to show their appreciation for staff.
Condo MCSTs and their benefits
Condos are a desirable accommodation choice, and for good reason. They’re often stylishly built, fitted with amenities, and ultra-safe. All of that is made possible by the condo MCSTs.
Le Quest condo.
Image credit: @iproperty_intl via Instagram
MCSTs who hire accredited managing agents experience higher satisfaction in service performance and receive more positive feedback from residents. Accredited MAs also have the relevant skills and professionalism to manage a condo properly.
At Allsworth Park, MCST council members and their managing agents work closely with one another to resolve queries from residents in a timely manner to avoid any disputes.
At Le Quest, the MCST strives to maintain good channels of communication with residents. If facilities require repair, the MCST will ensure the residents are fully informed. The same goes for Marina Bay Suites, where the MCST keeps all residents up to date with items like maintenance progress in the common areas. This helps manage resident’s expectations as there are frequent updates on any delays & facility closures.
For those who wish to explore the aspects of condo living and managing, you can access free resources on the Building and Construction Authority (BCA) website, where you can find out more about how MCSTs handle behind-the-scenes maintenance and repair works to keep your condo in a pristine condition, as well as the importance of working with accredited managing agents.
Find out more about what MCSTs do
This post was brought to you by BCA.
Cover image adapted from: EndowHomes
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