- Reverse mortgage
- Public housing issues
- Maintenance and safety of property
- The Owners’ Corporation as an entity of collective responsibility
- Third party insurance
- Mandatory Building Inspection Scheme
- Mandatory Window Inspection Scheme
- Government subsidy, loan and/or grant
- Common Area Repair Works Subsidy
- Common Area Repair Works Interest-free Loan
- Common Area Repair Works Hardship Grant
- Third Party Risks Insurance Subsidy
- Home Renovation Interest-free Loan
- Home Renovation Hardship Grant
- Subsidy in relation to the MBIS and MWIS
- Building Maintenance Grant Scheme for Elderly Owners
- Building Safety Loan Scheme
- Owners’ Corporation Formation Subsidy
- Redevelopment and acquisition of property
Maintenance and safety of property
Owners’ Corporation Formation Subsidy
The duty to manage and maintain a building, in the end, lies with the owners, but the individual owners will probably find it difficult to work together without a collective entity to help them collaborate and to represent their interests. The existence of an owners’ corporation is, therefore, of prime importance in building management. To encourage building owners to form an owners’ corporation, the Government offers the Owners’ Corporation Formation Subsidy.
A cash subsidy of $3,000 is available to help pay for the expenses of setting up an owners’ corporation. If the attempt to set up an owners’ corporation fails, the expenses involved in the attempt will be reimbursed to the applicant subject to the upper limit of $3,000.
The Subsidy is applicable to both residential and composite (i.e. residential and commercial) buildings. To be eligible to apply for this Subsidy, the applicant has to be the owner of one of the units in the subject building. Both individual owners and company owners are eligible for this Subsidy.