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Property Management

Property Manager : Kai Shing Management Services Ltd.
Term of Management : 2 years from date of issue of occupation permit in respect of the Development, & thereafter until appointment is terminated by Owners' Committee or resignation of the Manager.
Budgeted Management Expenses : Estimated to be $1.45 per square foot (Gross Floor Area) in accordance with the expenditure level of 1998. Slight adjustment may be required upon completion.
Management Expenses Deposit : A sum equivalent to 3 months' Budgeted Management Expenses to be paid upon completion.
Foundation Fund : A sum equivalent to 2 months' Budgeted Management Expenses to be paid upon completion.
Decoration Debris : A sum equivalent to 1 month's Budgeted Management.
Removal Expenses : Expenses to be paid upon completion. Each flat shall deposit the decoration debris at the place designated by the Manager.
Advance Payment of : A sum equivalent to 2 months' Budgeted Management Expenses Management Expenses to be paid in advance upon completion.
TV/FM and Satellite TV Receiving  : Sun Satellite Television Services Limited


Salient Points on Deed of Mutual Covenant and Management Agreement

  1. A Deed of Mutual Covenant incorporating a Management Agreement will be entered into in respect of the Lot.
  2. Common Areas and Facilities shall include, among others, the club house, the recreational facilities, the landscaped areas, passageways and driveways within the Lot, the exterior walls, the lobbies and other areas, systems and facilities intended for the common use and benefit by the owners of the Lot.
  3. Kai Shing Management Services Limited is the appointed Manager initially for a term of 2 years commencing from the date of the issue of the Occupation Permit. After the initial period, the appointment of the Manager may be terminated by 3 months' notice given by either the Manager or the Owners' Committee. The annual remuneration of the Manager shall be 10% of the total expenses per annum necessarily and reasonably incurred in the course of proper and efficient management of the Development.
  4. The owners of the Lot are required to contribute to the management expenses attributable to the Lot pro rata according to the Undivided Shares of the units owned by them. Owners when demanded by the Manager are required:-

    5. a)to pay a deposit equivalent to 3 months' budgeted Management Expenses;
    b)to make an initial contribution towards the Foundation Fund equivalent to 2 months' budgeted Management Expenses;
    c)to pay the Debris Removal Fee at a sum equivalent to 1 month's budgeted Management Expenses; and
    d) to pay the first 2 months' budgeted Management Expenses in advance.

  5. The Manager is to be given full authority by all the owners to carry out the necessary annual maintenance works on slopes and retaining walls, in accordance with all guidelines issued from time to time by the appropriate governmental authorities and each owner will be obliged to make contributions towards the costs of such works.
  6. The following covenants and restrictions, among others, are to be included :
  1. No owner shall make any structural alteration to his unit or alter the facade of his unit.
  2. No owner shall keep any live poultry, bird or animal in his unit if the same has been the cause of reasonable complaints by at least 2 owners or occupiers of the Development.
  3. Each owner shall notify the Manager in writing of any intended change of ownership within 7 days from the date of the agreement for sale and purchase and the change of ownership within one month from the date of assignment.
  4. No air-conditioning units or plants shall without the prior consent of the Manager be installed through any window and/or external wall other than at places provided for such purpose.
  5. No owner shall erect on or upon any roofs any structure whatsoever either of a permanent or temporary nature.
  6. No owner shall do anything which will amount to a breach of the Government Lease or the Deed of Mutual Covenant and Management Agreement.

The above information is for reference only. For full details please refer to the Deed of Mutual Covenant incorporating a Management Agreement. A full script of the Deed of Mutual Covenant incorporating a Management Agreement is available upon request and on paying necessary photocopying charges.