Virus affirms assertive Condo and troubles AirBnb

According to the South China Morning Post, the latest update on the Wuhan virus is close to 4500 people infected in China, with 106 deaths. “In addition to air transmission, the coronavirus can be spread through physical contact, China’s National Health Commission (NHC) said on Tuesday” (SCMP 28 Jan 2020)

No doubt our government is highly concerned and has swiftly implemented measures to keep Singapore safe. These include tracking at risk personnel and keeping them quarantined. I recall the overly restrictive (but on hindsight, forward-looking) rules of People’s Park Complex. Last August they decided to track and restrict visitors for vice. I believe the residents now benefit from an additional layer of administrative protection from the Wuhan virus.

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Condo maintenance pitfalls

 “too little, too late”

Petróleos Mexicanos (Pemex) is the state-owned petroleum company of Mexico. In its prime, Pemex had assets worth $415 billion. It was also the world’s second-largest non-publicly listed company in 2005.

Today, Pemex is the world’s most indebted oil company with $176 billion of debts and liabilities. The Mexican government announced a $5 billion bailout for the company this year. However analysts say it needs to invest at least $10-$13 billion a year.

How did that happened over less than 15 years? Well, in short, years of disregard and non-maintenance. This is similar to managing a condo. Take for example the following chain of events:

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About “Musings of a Condo Chairman”

This is a blog to share and possibly discuss the issues faced by residents, owners, council members and managing agents in the running of a condo or Management Corporation Strata Title (MCST).

I have been an owner and a council member for many years. First as member, then as Chairman. Having worked with various stakeholders, I have encountered many difficulties and hope to share the experiences. The lessons continue to prove useful as some of the issues continue to resonate today.

Why do this?

  • In recent years, I observed numerous poorly managed MCSTs
  • Owners are divided into ‘short-term camps’ & ‘long-term camps’
  • Idealistic maintenance is feeding an oversized cat
  • Sustainability & Asset enhancement can be better practised

There are various approaches to solving a problem. I do not believe my suggestions are prime. Circumstances differ for each individual and MCST. I am trying to provide insights so that others can build a better managed condo.