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.
There is a well-known quote by Warren Buffett about economic or financial crisis. “When the tide goes out do you discover who’s been swimming naked.” In recent years, I notice a rise in complaints against MCST council and Managing agents. To be fair, some are trivial issues voiced by overly-sensitive residents, while others can be as severe as mismanagement, extreme lack of financial prudence and even ‘hidden political agendas’.
Usually these are discussed openly in AGMs or in private with the MA. However in the current covid-19 crisis, many subsidiary proprietors (SPs) have found time to publicized their concerns on social media. I was told these pent-up frustrations have been accumulating for years in a number of condominiums around Singapore.
The crisis presents an excellent opportunity for Property Managing Agents (MA) to step up their modus operandi. Some have resisted change for too long. Others have pushed for upgrades with an exorbitant price tag. Neither is in the best interest of residents. As chairman, I am constantly looking for MAs who can improve their efficiency and provide value.