some residents talked to us...what!!! RM740K!!! how to get the money? sound a bit worry, sigh..., this is not the purpose we posted the last article, instead we try to convey the message that let's get ready for next 10 years, also indeed we do hv some plan to counter the challenge.
oh, right, good question, where to get the money? here we go....
of course as we know, we still have abt RM400K with developer, the sinking fund, it's long battle to get back the money, as we hv got the court order for them to return the money to us, but as they haven't do that even after nearly 2 months, now we took further action to force them to release the money, the hearing of application done on 19/6/12, the court fixed the trial on 5/7/12, we can't guarantee how soon they will give back the sinking fund, but will update our residents abt the development thru' this blog.
we also writing to state government for 80% of the cost of the 4 lifts control system upgrading, or RM160K (as the total cost is abt RM200K), this is gov't policy & commitment to help those low/medium low cost apartment, the MC committee are talking to YB Yeoh abt this, thank God we have good relationship with him, so it's easier to approach him for help. Now to make the chance looks brighter, we just found out there's a blk k resident who also contractor for CM (or his office), we took advantage of it & ask him to present our case to CM, let's pray & hope for the good news.
well, as the above 2 options are actually (partly) depending on developer/state gov't decision to release the fund, this following 2 sources of income are more secured one....
at the moment our rental parking lots are like the hot cakes, demand much more than offer, we do managed to rent our abt 40 lots, which means the annual income of this us RM50*40*12 = RM24000, so for 10 years is RM240K, soon we will set aside this money & bank it into FD account, RM240K if we have it now is good enough for building painting :)
also if go by current patent of income & expenses, say full collection is RM27500 per month, minus those regular item like TNB 6500, PBA 1000, lift contract 1400, pool 800, management 3000, guard 4000, Electrical/genset 500, cleaning service 2000, maintenance repair & others 4300, total is RM23500, which means monthly surplus is RM4000, annual should be abt RM48000, or 10 years RM480K!
oh ya, to make thing little bit better, at the moment we still have defaulter's old debt, RM50K.....
so those money which more tangible to be received are RM240K + RM480K + RM50, total is RM770K for the next 10 years, sound good, huh?
what we try to say here, is we need to have good system & discipline in this whole thing of financial planning, for this we are still in the process of improving ourselves, one nice thing is those major repairs which need to be done urgently & big money needed for attending to it, are mostly being covered already, especially bomba facilities, water tank leaking, CCTV, T&G system, etc, even old debt to the vendor abt 50K already completely settled abt 1 year ago..., so now we more comfortable in doing the financial planning for next 10 years.
of course we won't just keep those surplus for painting or lift upgrade, still remember the vision of making vista a real condo by yr2013? we would definitely spend some money for facilities upgrade & beautification when time is right.
any suggestion or feedback are most welcome :)
thanks.
Monday, June 25, 2012
Monday, June 18, 2012
do we need the 10 years plan?
one management expert once said, those who doesn't plan actually plans for the failure, if he is right then if we don't plan for Vista Condo's future, then we may heading for trouble.
of course we don't hv to fully agree with him, but seems there's some truth in his saying too, imagine if 15 years ago (when Vista condo has just started been occupied by residents) the developer appointed managing agent willing to take a trouble to draft plan for 5 years, 10 years, 15 years then for sure today our condo should be in much better shape!
ideally speaking, if those days they already come out with the schedule of when to paint the building, when to upgrade the lifts, when to change the water tank, when to replace the bomba equipment, when to upgrade all the pump...etc, then putting in the cost, compare with the income...together with other planning stuffs, then our money will be in good used for the maintaining & upgrading the facilities, & today we should be living in the real condo environment.
of course it didn't happen, so now it has become even harder to plan for the future, coz of those facilities which lacked of sufficient maintenance action, are currently still poking holes in our wallet, in other words, like the black hole sucking our finance, mainly for repairing, most severe one is lifts, water tank also.
our biggest difficulty now is even as we sit down trying to plan for the next 10 years, too much of finance is needed for upkeeping this place, it's indeed a big big big challenge of how to make Vista Condo still having her lifts running well, paint of the building still looks ok, also other facilities are in reasonable condition after 10 years.
let's quote a few items, painting of building is abt RM250K, 4 lift control system is RM280K, 4 lift cars w/doors RM100K, water tanks lining 160K, bomba equipment RM50K, for these are the major items which need to be maintained well now so that they can be safely used in the coming 10 years....
the total is (250 + 280 + 100 + 160 + 50) = RM740K!
hehehe! even if we manage to recover our sinking fund, it's abt RM400, still short of RM340K.
if u feel a bit down, or discouraged by this figure..., don't feel so negative now, we do have some way to counter this, will share more in next posting...:)
thanks.
of course we don't hv to fully agree with him, but seems there's some truth in his saying too, imagine if 15 years ago (when Vista condo has just started been occupied by residents) the developer appointed managing agent willing to take a trouble to draft plan for 5 years, 10 years, 15 years then for sure today our condo should be in much better shape!
ideally speaking, if those days they already come out with the schedule of when to paint the building, when to upgrade the lifts, when to change the water tank, when to replace the bomba equipment, when to upgrade all the pump...etc, then putting in the cost, compare with the income...together with other planning stuffs, then our money will be in good used for the maintaining & upgrading the facilities, & today we should be living in the real condo environment.
of course it didn't happen, so now it has become even harder to plan for the future, coz of those facilities which lacked of sufficient maintenance action, are currently still poking holes in our wallet, in other words, like the black hole sucking our finance, mainly for repairing, most severe one is lifts, water tank also.
our biggest difficulty now is even as we sit down trying to plan for the next 10 years, too much of finance is needed for upkeeping this place, it's indeed a big big big challenge of how to make Vista Condo still having her lifts running well, paint of the building still looks ok, also other facilities are in reasonable condition after 10 years.
let's quote a few items, painting of building is abt RM250K, 4 lift control system is RM280K, 4 lift cars w/doors RM100K, water tanks lining 160K, bomba equipment RM50K, for these are the major items which need to be maintained well now so that they can be safely used in the coming 10 years....
the total is (250 + 280 + 100 + 160 + 50) = RM740K!
hehehe! even if we manage to recover our sinking fund, it's abt RM400, still short of RM340K.
if u feel a bit down, or discouraged by this figure..., don't feel so negative now, we do have some way to counter this, will share more in next posting...:)
thanks.
Sunday, June 10, 2012
blk k lift crisis
we called it crisis, coz one lift is forced to shut down as we need to send it's rotor for service, but another lift which remain to serve our blk K residents is not stable as it's old too, & it's track record had not been good, the break down time is relatively high compare to other lifts.
true enough, 1 day after it shouldered the responsibility alone, it started to throw tantrum, first was control system keep interpreting the signal wrongly, as the result, the lift stop at the improper time, or didn't want to open the lift door to let passenger to come out, for that, the technician work until abt 2am to get it fixed.
but as we thought it's settled, the following day (toward late afternoon) the mechanical part give problem, it get overheated due to the motor overworked, the internal sensor forced the lift to stop so to avoid further damage, so for that the technician checked around for bigger blower to cool down the motor so that it can continue to run the lift as we can't effort to hv both lift down, but they can't get the equipment as it's already night, but thank God we manage to get a heavy duty industry fan from a MC member's office, and after the technician did the necessary adjustment on the lift system to get the problem solved, it's already abt midnight....:(
3rd day went on peacefully....
today is the 4th day, so far so good, MC member monitored the performance of this lift, now already passed 11pm, didn't give problem the whole day, we pray & hope that it will continue to run well, coz the school term going to start tomorrow, more ppl going to use it then, really praying hard now...., we also arrange technician to stand by daily, early hour in the morning & also afternoon when ppl come back from work, jz for in case.
earlier on our plan is to get the sinking fund back the developer so that we can do the necessary upgrading for the old lift, but as they still dragging their feet, we can't wait for them coz all the control system need to be upgraded urgently as many parts have obsolete & can no longer be sourced in the market, we have written to EXCO member YB Wong Hon Wai abt our problem, his dept ask us to submit our application for the state gov't fund, under this arrangement, if our application approved, we can hope state gov't to contribute 80% of the cost, management fund bear the rest 20%, so now we are busy getting quotation, bank statement & other necessary document so hopefully by Tuesday or Wednesday can send to them for consideration, for this, we are not sure how good is the chance, so again, got to pray hard for God to help....
(for those following the development of the sinking fund court case, we hv filed in the case, the hearing of application is fixed on 19/6/2012 morning at high court, now we want to sue them for contempt of court)
look back, we only hv one regret, 3 years ago when we urged residents to collect strata title, so that we can form MC to demand the sinking fund from the developer, the response from residents actually quite slow, still remember we need 25% of residents to get their strata title in order to form MC? it actually took more than 2 years to meet the quota, then only we manage to form MC last August, then took few month for talking to state gov't to get their help, negotiation with developer, until took legal action in this April..., we always wondering if in yr2009 or early yr2010 we already get cooperation from resident to hv enough strata title quota to form MC, then perhaps by now sinking fund (or portion of it) already made available for us to use for the lift upgrade......& this lift crisis can be avoided.
now we just hope that we can get the state gov't fund soon, lagi best if developer is kind enough to release the sinking fund in next few weeks.....let's pray.
thanks.
true enough, 1 day after it shouldered the responsibility alone, it started to throw tantrum, first was control system keep interpreting the signal wrongly, as the result, the lift stop at the improper time, or didn't want to open the lift door to let passenger to come out, for that, the technician work until abt 2am to get it fixed.
but as we thought it's settled, the following day (toward late afternoon) the mechanical part give problem, it get overheated due to the motor overworked, the internal sensor forced the lift to stop so to avoid further damage, so for that the technician checked around for bigger blower to cool down the motor so that it can continue to run the lift as we can't effort to hv both lift down, but they can't get the equipment as it's already night, but thank God we manage to get a heavy duty industry fan from a MC member's office, and after the technician did the necessary adjustment on the lift system to get the problem solved, it's already abt midnight....:(
3rd day went on peacefully....
today is the 4th day, so far so good, MC member monitored the performance of this lift, now already passed 11pm, didn't give problem the whole day, we pray & hope that it will continue to run well, coz the school term going to start tomorrow, more ppl going to use it then, really praying hard now...., we also arrange technician to stand by daily, early hour in the morning & also afternoon when ppl come back from work, jz for in case.
earlier on our plan is to get the sinking fund back the developer so that we can do the necessary upgrading for the old lift, but as they still dragging their feet, we can't wait for them coz all the control system need to be upgraded urgently as many parts have obsolete & can no longer be sourced in the market, we have written to EXCO member YB Wong Hon Wai abt our problem, his dept ask us to submit our application for the state gov't fund, under this arrangement, if our application approved, we can hope state gov't to contribute 80% of the cost, management fund bear the rest 20%, so now we are busy getting quotation, bank statement & other necessary document so hopefully by Tuesday or Wednesday can send to them for consideration, for this, we are not sure how good is the chance, so again, got to pray hard for God to help....
(for those following the development of the sinking fund court case, we hv filed in the case, the hearing of application is fixed on 19/6/2012 morning at high court, now we want to sue them for contempt of court)
look back, we only hv one regret, 3 years ago when we urged residents to collect strata title, so that we can form MC to demand the sinking fund from the developer, the response from residents actually quite slow, still remember we need 25% of residents to get their strata title in order to form MC? it actually took more than 2 years to meet the quota, then only we manage to form MC last August, then took few month for talking to state gov't to get their help, negotiation with developer, until took legal action in this April..., we always wondering if in yr2009 or early yr2010 we already get cooperation from resident to hv enough strata title quota to form MC, then perhaps by now sinking fund (or portion of it) already made available for us to use for the lift upgrade......& this lift crisis can be avoided.
now we just hope that we can get the state gov't fund soon, lagi best if developer is kind enough to release the sinking fund in next few weeks.....let's pray.
thanks.
Sunday, June 3, 2012
general updates...
few things to update our residents...
1) feeling a bit sad, but also not too surprise, the developer haven't release the sinking fund to us, despite the court order...., & it has been more than one month, 2 weeks ago we have told our lawyer to proceed further action, so after as he has taking his time slowly & carefully drafted the affidavit, the committee member was told to sign the affidavit last thursday & we expect it will be filed to the court today, or if not then tomorrow, under contempt of court, looks like the battle will still have next episode(s), at the same time we also consider other options, will update residents more on this once it's decided.
2) on sunday noon time one uncle from blk j took matter into his own hand, used his bikes' T&G tag open the barrier for gas delivery man, then when he ride his bike passed the barrier area after the gas vendor, the barrier went down & hit at his hand, caused some scratches on the skin, sigh..., his family member blaming the barrier system is lousy & requested the system to be dismantled, but they failed to see the fault of the father, he should let the guard to do the job, & should understand once scanner is scanned, & the moment the underground sensor sensed that the vehicle (in this case the vendor's bike) has passed, then it will send the sign to the system to lower the barrier, but anywhere we will check also if the incident has caused damage to the barrier then we will demand compensation from them too.
3) abt a week ago a Malay boy get drowned in Batu Uban Apartment area swimming pool, so for safety concern, we have told the guard to make sure if little kids requests for swimming pool key, the adult must accompany them, but the problem is after the pool gate is unlocked, the guard can't monitor the pool closely as his main job is to man the main entrance, so here we like to urge parents to be around at the pool area if their kids are in the swimming pool.
4) blk k lifts recently giving problem again, the technicians have been working round the clock trying to settle the problem, in fact should called problemS, as it's like a chain reaction, one part down & replaced, but before long another part also have problem as either they are physically or functionally attached, so blk k residents pls be patient as the technicians are trying their best to solve these, we also told the guards to help to monitor CCTV more often just in case ppl stuck inside the lift...., thank God for past 2 days the condition are ok.
thanks.
1) feeling a bit sad, but also not too surprise, the developer haven't release the sinking fund to us, despite the court order...., & it has been more than one month, 2 weeks ago we have told our lawyer to proceed further action, so after as he has taking his time slowly & carefully drafted the affidavit, the committee member was told to sign the affidavit last thursday & we expect it will be filed to the court today, or if not then tomorrow, under contempt of court, looks like the battle will still have next episode(s), at the same time we also consider other options, will update residents more on this once it's decided.
2) on sunday noon time one uncle from blk j took matter into his own hand, used his bikes' T&G tag open the barrier for gas delivery man, then when he ride his bike passed the barrier area after the gas vendor, the barrier went down & hit at his hand, caused some scratches on the skin, sigh..., his family member blaming the barrier system is lousy & requested the system to be dismantled, but they failed to see the fault of the father, he should let the guard to do the job, & should understand once scanner is scanned, & the moment the underground sensor sensed that the vehicle (in this case the vendor's bike) has passed, then it will send the sign to the system to lower the barrier, but anywhere we will check also if the incident has caused damage to the barrier then we will demand compensation from them too.
3) abt a week ago a Malay boy get drowned in Batu Uban Apartment area swimming pool, so for safety concern, we have told the guard to make sure if little kids requests for swimming pool key, the adult must accompany them, but the problem is after the pool gate is unlocked, the guard can't monitor the pool closely as his main job is to man the main entrance, so here we like to urge parents to be around at the pool area if their kids are in the swimming pool.
4) blk k lifts recently giving problem again, the technicians have been working round the clock trying to settle the problem, in fact should called problemS, as it's like a chain reaction, one part down & replaced, but before long another part also have problem as either they are physically or functionally attached, so blk k residents pls be patient as the technicians are trying their best to solve these, we also told the guards to help to monitor CCTV more often just in case ppl stuck inside the lift...., thank God for past 2 days the condition are ok.
thanks.
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