Developer Of Dairy Farm Residences Condo Reduces Maintenance Fees By About 40%
In most cases, moving into a new apartment after years of waiting is an exciting and happy affair.
But not for some residents of Dairy Farm Residences (DFR), who were recently quoted maintenance fees that, in some cases, amounted to nearly triple what was advertised to them.
This prompted some of them to create a petition calling for “fair maintenance fees”.
Source: Dairy Farm Residences
The developer has since reduced the maintenance fees by about 40%. However, the figures allegedly remain higher than the initial quoted amounts.
Maintenance fees at least twice the amounts in ad
According to Channel NewsAsia (CNA), some DFR residents received a letter from the developers’ lawyers in October, asking for advance payment of six months of maintenance fees.
However, they realised that the maintenance fees quoted in the letter were far from what was initially marketed.
In the initial marketing brochures, the maintenance fees fell within the range of S$260 and S$350. Owners of larger apartments would naturally have to pay higher maintenance fees.
Source: Serena Phua Realtor
In an analysis of the property development, realtor Serene Phua stated that the maintenance fees were on the “low side”.
The figures in the recent letter, however, were reportedly far from the initial amounts.
A resident who spoke to CNA said they were asked to make an upfront payment of S$4,300, which comes to about S$716 a month.
Meanwhile, other residents allegedly had to pay more than S$800 for their monthly maintenance fees.
This prompted them to start a petition urging United Engineers Limited (UEL) — the condo’s developer — to reconsider the “exorbitant” maintenance fees, which allegedly came to about 1.5 to 2 times what the residents were initially quoted.
The petition has garnered more than 650 signatures at the time of this article. A handful of residents also shared their disappointment with what they deemed to be misleading charges.
Dairy Farm condo developer reduces maintenance fees by 40%
In recent days, DFR property owners received another letter from the developers’ lawyer, informing them of the revised maintenance figures.
According to TODAY, the latest figures fell between S$427 and S$513 — about 40% less than the fees in the previous letter.
UEL also explained that they arrived at the previous figures following calculations and projections by consultants before or around the same time the project obtained its temporary occupation permit (TOP).
Property owners who had already made advance payment for the maintenance fees will have the option of:
- Receiving a refund of the surplus maintenance fees
- Using the surplus maintenance fees to offset future maintenance charges
Even though the new rates are still higher than the initial figures, property owners still expressed their relief when speaking to TODAY. They noted that the new fees are more in line with the market rate.
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Featured image adapted from Facebook.Â
