Indonesian Political, Business & Finance News

Cozy condo could turn into home of hell

| Source: JP

Cozy condo could turn into home of hell

JAKARTA (JP): Amidst the current rush to grab condominiums as
soon as they are marketed, an appraiser is sounding the alarm on
the host of problems that can beset a new owner when starting to
move in.

What if the above condominium leaks? What about parking space?
How should disputes between condo owners, and with the developers
and operators be resolved?

These are some of the questions that need to be addressed soon
before people start living in apartments, Stefanus Gunadi,
chairman of the Indonesian Association of Appraisers (Mappi),
said yesterday.

The government needs to draft regulations on the rights and
duties of condominium owners, developers and managers, he said.

"People are joining the rush simply because others are doing
it. They don't realize that there are problems in living in
apartments," Stefanus told reporters after opening a two-day
seminar on "Valuation, financing and management of the strata
title".

He proposed the establishment of a board on strata title,
similar to one found in Singapore, through which problems are
discussed and resolved.

He said that in the next two or three years, most of the
currently constructed apartments in Jakarta and other big cities
will begin to be occupied.

"Problems may occur among the occupants, developers and the
managers of the condominiums in some aspects such as car parking,
leaking tiles or the use of elevators," he said.

The seminar, organized by Mappi and the Indonesian Association
of Real Estate (REI), featured two senior lecturers of the School
of Building and Estate Management of the National University of
Singapore, Lawrence K. H. Chin and Yu Shi Ming.

Stefanus said Indonesia can learn from Singapore, which has 25
years of experience in strata title management.

Singapore has set a strata title board as an agent to mediate
problems on living in apartments. "When there is a leak in the
15th floor, for instance, a dispute may occur and its settlement
may have to involve a court," he said.

He said that Indonesia can set up such a board comprising
officials from the office of the State Minister of Public
Housing, professionals and property developers. (icn)

View JSON | Print