Strata Jargons

A

Agenda
A list of motions or issues to be voted upon or discussed at a meeting.

AGM
A commonly used acronym for Annual General Meeting, which is a meeting of owners and other interested parties that must be convened once a year under the Strata Management Act 2013.

B

Building Manager
Also known as Property Manager. A Building Manager primarily looks after all aspects of running the maintenance side of the building. The Building Manager is usually responsible for the tasks, delegated by the Joint Management Body or Management Corporation to a Managing Agent, which pertain to common property maintenance, repairs and replacement.

By-laws
A set of rules the residents (owners and tenants) in the strata or development area must abide by.

C

Chairman
One of the 3 main office holders of the Management Committee, the other 2 being the Secretary and the Treasurer.

Charges
Payment to be made by Strata Owner to Management Body for the purpose of meeting the general or regular expenditure in respect of maintenance and management of the Common Property or the Limited Common Property.

Common Property
The area of land and part of a building in the strata plan which do not form part of any owner’s parcel.

E

EGM
A commonly used acronym for Extraordinary General Meeting, which is a meeting of owners and other interested parties other than the Annual General Meeting.

M

Maintenance Account
An account required to be opened and maintained by a developer, joint management body, management corporation or subsidiary management corporation to cover all the ‘day-to-day’ and ‘regular’ expenses of the strata building such as cleaning services, electricity, gardening, insurance premiums, routine repairs and maintenance of common property, strata management fees and disbursements, etc.

Management Committee
Elected representatives of the owners. The election takes place at each Annual General Meeting.

P

Proxy
A person appointed, in writing, by an owner to attend a meeting and vote on the appointer’s behalf.

Q

Quorum
The minimum number of eligible attendees at a meeting before any motion can be voted upon.

R

Resolution
A decision made at a meeting based on a motion raised and addressed at the meeting

S

Secretary
One of the 3 main office holders of the Management Committee, the other 2 being the Chairman and the Treasurer.

Sinking Fund Account
An account required to be opened and maintained by a developer, joint management body, management corporation or subsidiary management corporation solely for the purpose of meeting the actual or expected capital expenditure, e.g. the painting or repainting of any part of the common property, the acquisition of any movable property for use in relation to the common property, or the renewal or replacement of any fixture or fitting comprised in any common property.