A Developer is legally required to pay their share of annual Service Charges for all unsold units within a project. Additionally, the developer must pay these charges for any sold units where they have contractually undertaken to pay on behalf of th…
A Developer is legally required to pay their share of annual Service Charges for all unsold units within a project. Additionally, the developer must pay these charges for any sold units where they have contractually undertaken to pay on behalf of the purchaser in the sale contract or reservation agreement. This ensures that the building�s maintenance fund remains fully funded and that the Management Entity can continue to operate the property�s common parts effectively without financial shortfalls caused by vacant inventory.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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