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"I am a BLOGGER NOT an expert. This is a BLOG not a 'go-to' website for official information. I represent no one's view save my own. I have neither legal nor financial training, nor do I have anything to do with the real estate industry. My understanding of the Collective Sale Process is from a layman's position only. My calculations, computations and tables are homespun and may contain errors. Please note that nothing in this blog constitutes any legal or financial advice to anyone reading it. You should refer to your lawyer, CSC or financial adviser for expert advice before making any decision. This disclaimer is applicable to every post and comment on the blog. Read at your own risk."
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There is one thing worse than an Enbloc ----- and that is an Enbloc done badly. Since the majority have the necessary mandate to sell, then they owe it to all SPs to make a success of it. Minority SPs can only watch and wait, if they sell then lets pray it's at a price we can move on with, if they don't sell, then we are happy to stay for a few more years.

AGM 2012

Attendance: 49 units (out of 560) at 2.30pm, which is 19 more than last year. Quite a crowd, really :)

A very civilized meeting and well chaired by the MC Chairman. Everyone seemed to be in the same boat and rowing in the same direction. Sensible questions were asked, reasonable objections were offered and even though it dragged on a bit, all matters were discussed fully and either passed or failed without any aggravation whatsoever.  The SPs present, both for and against enbloc, put the estate first and a number of changes are now going to be implemented.
  • The monthly maintenance fee was increased by $20. So owners will now pay $168 (excl GST) instead of the present $148. This change passed unanimously, though a couple of SPs grumbled that it should not have been left to last, as a few SPs had left early. 
  • Interest on arrears increased to 15% 
  • All the present committee members (7) will continue on the MC with the addition of 3 more SPs.
  • The roof waterproofing works will proceed. 
  • The special resolution to install ERP and charge for visitor parking was put to the vote. 65% voted for the proposal, 35% were against. It was therefore NOT passed.
  • The special resolution to install gates at the entrances and turnstiles at the side gates was passed unanimously.
  • The special resolution to build BBQ pits was rejected unanimously.
  • The special resolution to charge $100 monthly parking fee for second car, $150 for 3rd car and $200 for 4th car was passed unanimously. 
  • Special resolution to force a sale of a unit in arrears was passed unanimously. 

En bloc or no En bloc, the estate is doing fine.

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