Once a strata development is legally subdivided, the MCST takes over responsibility for everything owners share: lobbies, lifts, pools, gyms, security, landscaping, and the building's structure and facade. It is funded by monthly maintenance fees charged to every unit, split according to share value, plus a separate sinking fund built up for major long term repairs.
For a buyer, the MCST's financial health is a real due diligence item, not paperwork to skip. Reviewing recent AGM minutes, checking whether the sinking fund looks adequate for the building's age, and asking about any special levies raised or pending can reveal a development heading for a large one off bill that a fresh maintenance fee alone will not cover.
MCST rules also apply to strata landed developments, cluster housing with shared facilities and an MCST, not only high rise condominiums, so the same financial health checks apply there too before committing to a purchase.
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Book a free 30 minute callWinfred Quek is an Associate Marketing Consultant at Crestbrick Pte Ltd (CEA Licence No. L31010886H). CEA R073319H. This page is for general information only and does not constitute financial, investment, or legal advice. Verify current figures with IRAS, HDB, CPF Board, or MAS before making any decision.