Owners' Association not returning deposit

Discussion in 'Malaysia property' started by AngryVendor, Dec 4, 2018.

  1. AngryVendor

    AngryVendor New Member

    I am a previous owner of a commercial property in Bangi Suntrack Hub.. The Managers of the Owners' Association insist that I get the new owners to pay
    them the deposit before they release the RM6,000 deposit to me. What irks me most is that the managers are a Real Estate Company and have ignored
    my request to show written proof that it is my responsibility to do so. As managers, they should collect from the new owners, correct ?
     
  2. diyhelp

    diyhelp Active Member

    Do you not have any terms and conditions from when you were the owner of the property? Did you not request a deposit from the new owners?
     
  3. AngryVendor

    AngryVendor New Member

    The Deed of Mutual Covenant was signed almost 6 years ago and I have misplaced it. Not that I have googled it, it mainly applies to properties with strata titles. The property is actually a landed property. In my opinion, the only reason why the DMC was drawn up was for the gated security of the Industrial Area for which I am charged 6,000 per annum.

    No I did not request the 6,000 deposit from the new owners as I thought it is between them and the Association.
     
  4. Surely it is simply a case of asking the new owners to stump up the deposit? Or am I missing something?

    If they have cash flow issues you could always offer a staged payments plan so at least you get the money in the end - give a bit in terms of payment schedule to get it in the long term?
     
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