By now, you may have heard about the ‘dumbest sheltered walkway’ in Punggol. It led straight to the bus-stop, but the railings extend another 5m-8m unsheltered. This inconvenienced the HDB residents from the cluster of blocks around. And one Lim Vernon took to facebook to broadcast his video about it on 1 Dec.Read more
In a recent post on Instagram, social media influencer Xiaxue highlighted the ‘derelict’ state of her HDB common areas in Hougang. Lo and behold!
Aljunied-Hougang Town Council (AHTC) wasted no time in addressing her concerns. Aside from explaining the situation online, AHTC also engaged workers the following day to fix the chipped cement surfaces and painted over the ceiling. https://www.asiaone.com/singapore/xiaxue-raises-concerns-about-destitute-state-her-hougang-hdb-block-town-council-responds
Pound for pound, in a Condo setting the Managing agent would have to …
- Get MCST council approval
- Mobilise contractors to do minor repairs
- Supervise minor works and ensure completion
- Release official statement to all residents
All within 24 hours.
Here’s the extra points. AHTC ended their note with “The town council recognises that there is always room for improvement, and welcomes feedback from residents.” My idol MA. Such eagerness and endearing level of service reminds me of SG in the 1980s or Japan today.
Not only that, in this instance the Public model trumps the Private model in both cost and efficiency. An extremely rare sighting for me.
Recently came across a detailed technical research on Managing Agents, written and published by Yung Yau and Daniel Chi. Skip the models and calculations if they don’t speak to you.
A few note-worthy excerpts:
“relationship between the board of directors and CEO is vulnerable to the classical principal-agent problems because of the diverse incentives of the two parties. The same also occurs in the case of MOH (Multi-owned homes a.k.a Strata) management. It is very common that PMAs (Property managing agents) act for their own benefits at the homeowners’ expense. Opportunistic PMAs may embezzle fund from the common financial pool (such as sinking fund and maintenance reserve) to their own pockets or make procurement decisions on their own instead of the homeowners. These malpractices of the PMAs have been widely reported in different parts of the world [29, 30, 31, 32].“
“Performance measurement and benchmarking are essential elements of strategic management. While there has been a large body of literature on benchmarking in the field of business management, little attention has been paid to benchmarking of housing or property management performance… various key performance indicators were employed or suggested in the literature for measuring or evaluating a PMA’s performance. These performance indicators or measures can be broadly classified into four types, namely input-based measures, output-based measures, process-based measures, and hybrid measures.”
A resident took to facebook group MCST and posted the following.
To which a few others replied…
I assume every seven years the residents re-accumulate the equivalent of 60% of their existing Sinking fund. Sounds like one of the following.
If only more residents start attending AGMs/ EOGMs, asking the right questions (“not the second parking lot”). Then will the prudent decisions be made.
As to Fand’s question about how an AGM can be conducted without sufficient owners. A quick reference to BCA will show you the criterion. See screenshot below.