Are you interested in buying a new beautiful unit at The Reserve Residences at Jalan Anak Bukit and is wondering how much is the maintenance fees per month ?
Check out the brochure and floor plans to find out more too. Also check out the announced pricing for launch units of the Reserve Residences !
What are condo maintenance fees
In Singapore, maintenance fees for condominiums are charges imposed on residents to cover the costs of maintaining and managing the common areas and facilities within the condominium development. These fees are typically paid on a monthly basis by individual unit owners or tenants and are used to fund various expenses, such as:
General maintenance: This includes the upkeep of common areas like lobbies, corridors, lifts, swimming pools, gardens, and recreational facilities. It involves cleaning, landscaping, repairs, and regular servicing to ensure they are in good condition.
Security and safety: Maintenance fees also contribute to security measures, such as the installation and maintenance of surveillance systems, access controls, and security personnel to ensure the safety of residents and the property.
Utilities: Expenses related to the provision of water, electricity, and other utilities for common areas are often covered by the maintenance fees.
Management services: These fees contribute to the hiring and management of property management companies or managing agents responsible for overseeing the day-to-day operations of the condominium, handling administrative matters, and coordinating maintenance and repair works.
The specific amount of maintenance fees can vary depending on several factors, including the size of the condominium development, the range of facilities and amenities provided, the level of maintenance required, and the overall management standards. It is determined by the condominium's management committee or management corporation, and the fees are usually calculated based on the share value allocated to each unit.
It's important to note that the maintenance fees can increase over time due to inflation, rising operating costs, or the need for major repairs or upgrades. Therefore, potential buyers or tenants should consider the ongoing maintenance fees as part of their budgeting and financial planning when choosing to live in a condominium.
How does Share Values affect Maintenance Fees
In the context of Singapore condominiums, share values refer to the allocation of shares or share values to individual units within the development. These share values determine the proportionate share of ownership and the corresponding responsibilities, including the payment of maintenance fees and voting rights in the management of the condominium.
The share values are typically assigned based on factors such as the size, location, and other relevant attributes of each unit within the condominium. They are determined during the initial development or conversion of the property and are usually stated in the strata title or the subsidiary strata certificate of title.
The share values play a crucial role in calculating the maintenance fees for each unit owner. The fees are often calculated based on the allocated share value, where the higher the share value, the larger the proportion of the maintenance fees that the unit owner is responsible for paying.
It's important to note that share values are subject to revision or adjustment in certain circumstances, such as when there are changes to the common property or facilities, or if there is a need for a redistribution of share values among the units.
It's advisable for potential buyers or tenants to review and understand the share values assigned to the units they are interested in, as it affects their financial obligations and their stake in the management of the condominium.
What are the The Reserve Residences Maintenance Fees
As the share values for each unit in the Reserve Residences are different and, hence, the maintenance fees are also likely to be different for each type of unit in the development. So for each different unit type (e.g. 1 bedroom vs 3 bedroom) and each different sizes (e.g balcony or no balcony etc), the share values could be different and this affects the final maintenance fees.
We did have a sneak preview of the proposed maintenance fees (subject to changes, of course) and it is pretty competitive with regards to the location, the number of facilities and the richness of the environment !!
These figures are, of course, being finalized too and we always have the latest figures to share with you.
It will be such a great launch and the reasons for buying the Reserve Residences at Jalan Anak Bukit as a superb location have also been shared with you !