Maintenance fees are a monthly cost many first-time condo owners underestimate. Here is how they work.
What you are paying for
Every condo is run by a Management Corporation Strata Title (MCST) made up of the owners. Fees cover:
- Management fund: security, cleaning, landscaping, pool upkeep, lifts, utilities for common areas, insurance and the managing agent
- Sinking fund: savings for major future works, such as repainting, lift replacement and waterproofing
How your share is calculated
Fees are based on your unit’s share value, set by the developer and linked mostly to unit size. Larger units pay more. Penthouses and units with private features may have higher share values.
Typical ranges (illustrative)
| Unit type | Typical monthly fee (incl. GST) |
|---|---|
| 2-Bedroom | ~$320 – $400 |
| 3-Bedroom | ~$380 – $480 |
| 4-Bedroom | ~$450 – $560 |
| 5-Bedroom | ~$520 – $650 |
Illustrative ranges for large suburban condos. One Chuan Grove’s actual fees will be set by its MCST budget after TOP.
Why large developments often cost less per unit
Fixed costs such as security guards, the managing agent and the lifeguard are shared by more owners. A 1,000-unit project can therefore offer bigger facilities without a proportionally bigger fee. The trade-off: more facilities also means more to maintain as the project ages, so a healthy sinking fund matters.
Tips
- Budget maintenance fees into your monthly cash flow, on top of your mortgage.
- After TOP, attend the first AGM. Early decisions shape fees for years.
- Check the sinking fund balance when you eventually sell, because buyers will ask.