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1 – 10 of over 81000From 1967, responsibility for the maintenance and management of common property in strata developments in Singapore was borne by single‐tier management corporations. However from…
Abstract
Purpose
From 1967, responsibility for the maintenance and management of common property in strata developments in Singapore was borne by single‐tier management corporations. However from 2005, through the concepts of multi‐tier management corporations and limited common property, new legislation made sweeping changes to the way in which common property can be managed. This paper aims to discuss the present situation
Design/methodology/approach
First, the problems inherent in the existing system of single‐tier management corporations for strata property management until 2005 are examined. This provides a backdrop for a discussion of the solutions presented by new legislation in the form of “two/multi‐tier” management corporations.
Findings
The study reveals that while the multi‐tier system could alleviate some of the problems existing under the single‐tier management corporation system, other problems could arise; these include increased operational costs, finding sufficient volunteers for the multi‐tier management corporations, and increased potential for conflict.
Practical implications
There are practical implications for various parties including subsidiary proprietors, management corporations, developers and managing agents. Developers and property owners now have certain flexibilities that were not available under the single‐tier system. Evaluation of the potential problems can result in greater efficiency and cost savings.
Originality/value
While this paper is of general interest to all types of strata developments, it is of particular relevance to mixed‐use developments, which may benefit from multi‐tier management corporations. The paper draws on the experiences of other jurisdictions, which have implemented similar systems and introduced measures to minimize some potential problems.
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Kaylene Arkcoll, Chris Guilding, Dawne Lamminamki, Lisa McManus and Jan Warnken
The purpose of this paper is to advance a set of criteria for appraising the merits of alternative options to financing common property capital expenditure in multi‐owned housing…
Abstract
Purpose
The purpose of this paper is to advance a set of criteria for appraising the merits of alternative options to financing common property capital expenditure in multi‐owned housing (MOH) complexes and to then draw on this conceptual framework to determine which mode of common property capital expenditure funding is preferable.
Design/methodology/approach
A priori reasoning has been provided to pursue the study's objective.
Findings
Sinking funds represent the preferred approach to financing common property expenditure in MOH schemes and special levies are the least preferred approach.
Research limitations/implications
Due to the a priori based conceptual development undertaken, some subjectivity is bound to be invoked.
Practical implications
The study provides key insights to government policy makers charged with drafting MOH legislation and provides strong support for those jurisdictions that require sinking funds to be raised in MOH complexes. The study also informs the owners executive committees of MOH schemes of the benefits of maintaining sinking funds.
Social Implications
The study highlights the considerable MOH unit owner financial distress that can be averted by pursuing a policy of raising sinking funds.
Originality/value
The study has immense originality, as it is the first academic study to focus on MOH common property capital expenditure issues.
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Neoclassic economics is a thing of considerable beauty. It yet finds an increasing tendency on the part of those trained in its discipline to rebel from its neatly fitted…
Abstract
Neoclassic economics is a thing of considerable beauty. It yet finds an increasing tendency on the part of those trained in its discipline to rebel from its neatly fitted abstractions and intriguing diagrams. The rebellion stems from two sources. Veblen's sweeping attacks upon its postulates16 shock its theoretical foundations. The rapid changes in the industrial and business world discredited it on another front by bringing into increasingly sharp relief the divergence between the institutional assumptions of the orthodox theory and the conditions actually obtaining. The giant corporation, overhead costs, and the necessity for maintenance of volume, industrial concentration, the trade association, a widening spread among income classes, advertising, the growing inability of the consumer to gauge quality, the resort to reorganization instead of the “going out of business” of the long-run analyses – what place could the orthodox theory give to these important characteristics of the existing business economy?
In the face of Singapore's land scarcity problem, there is an increasing prevalence of strata‐titled developments providing private housing in Singapore. This paper considers the…
Abstract
In the face of Singapore's land scarcity problem, there is an increasing prevalence of strata‐titled developments providing private housing in Singapore. This paper considers the awareness in certain quarters of certain fundamental aspects of this unique form of property ownership. The particular aspect which this paper considers is the understanding and interpretation of the term “common property” among two important groups of people. The first group comprises those who purchase strata title properties – they are referred to as “subsidiary proprietors”. The second group comprises “managing agents” (MAs), who may be delegated this task of professionally managing and maintaining the strata‐titled development. The findings of a survey are that their understanding of this fundamental term is inadequate. Based on these findings, the paper concludes with recommendations for improving the level of professionalism among MAs through licensing and courses for continuing professional development. This will bode well for the overall state of strata‐titled developments which are not only here to stay, but are expected to increase in number in Singapore.
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This paper argues that the revolution in intellectual property rights is not forward-looking, but backward looking, and that it is not consonant with the purposes of the patent…
Abstract
This paper argues that the revolution in intellectual property rights is not forward-looking, but backward looking, and that it is not consonant with the purposes of the patent and copyright clause. It is animated by the theory of common law copyright, which deliberately reconceptualizes social relations in order to recast them as property, and which has been with us for centuries. This paper investigates the “mythology of common law copyright,” showing how this reconceptualization has worked both historically and in the present day to push the law in a direction that is ostensibly author-centered, but is actually focused on the rights of intermediaries.
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This chapter reconsiders commonly held views on the ownership and management of private property, contrasting capitalist and simple property, particularly in relation to how a…
Abstract
Purpose
This chapter reconsiders commonly held views on the ownership and management of private property, contrasting capitalist and simple property, particularly in relation to how a firm shareholder governance model has shaped society. This consideration is motivated by the scale and scope of the modern global crisis, which has combined financial, economic, social and cultural dimensions to produce world disenchantment.
Methodology/approach
By contrasting an exchange value standpoint with a use value perspective, this chapter explicates current conditions in which neither the state nor the market prevail in organising economic activity (i.e. cooperative forms of governance and community-created brand value).
Findings
This chapter offers recommendations related to formalised conditions for collective action and definitions of common guiding principles that can facilitate new expressions of the principles of coordination. Such behaviours can support the development of common resources, which then should lead to a re-appropriation of the world.
Practical implications
It is necessary to think of enterprises outside a company or firm context when reflecting on the end purpose and means of collective, citizen action. From a methodological standpoint, current approaches or studies that view an enterprise as an organisation, without differentiating it from a company, create a deadlock in relation to entrepreneurial collective action. The absence of a legal definition of enterprise reduces understanding and evaluations of its performance to simply the performance by a company. The implicit shift thus facilitates the assimilation of one with the other, in a funnel effect that reduces collective projects to the sole projects of capital providers.
Originality/value
Because forsaking society as it stands is a radical response, this historical moment makes it necessary to revisit the ideals on which modern societies build, including the philosophy of freedom for all. This utopian concept has produced an ideology that is limited by capitalist notions of private property.
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Tan Liat Choon, Tan Wee Vern, Looi Kam Seng, Toh Ming Liang, Muhamad Uznir Bin Ujang, Suhaibah binti Azri, Thoo Ai Chin and Shanmugapathy A.L. Kathitasapathy
The increasing number of strata property in Malaysia promotes the different usages of development under the integrated development, which comprise the different usages of owner…
Abstract
Purpose
The increasing number of strata property in Malaysia promotes the different usages of development under the integrated development, which comprise the different usages of owner groups. These owner groups may not enjoy all the common properties in the integrated development. Therefore, the purpose of this research is to identify the important to designate the limited common property for the owners who have the exclusive benefit on it. However, the establishment of the subsidiary management corporation and limited common property is less popular in Malaysia.
Design/methodology/approach
Hence, research should be carried out to identify the importance of the establishment of the subsidiary management corporation and enhancement for the establishment of subsidiary management corporation to increase the willingness of the owner to establish the subsidiary management corporation. Collective Action Theory likewise assists to increase the willingness of the owner in the establishment of the subsidiary management corporation. A sum of 100 owners in the integrated development and 187 stratified property professionals are the respondents in this research, by applying the random sampling method.
Findings
Results indicate the problems that occur in the integrated development is the complexity management in integrated development, followed by the usages of the common property. Therefore, Collective Action Theory could ensure the effectiveness of the establishment of the subsidiary management corporation in the aspect of social rights, resources, governance groups and participants.
Originality/value
This paper provided an overview of the management circumstance in the integrated development of Malaysia and discussed some effective enhancements to promote the sustainable formation of the subsidiary management corporation or two-tier management corporations.
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The purpose of this paper is to consider arguments both for and against intellectual property (IP) rights that are premised on each of two conceptions of the information commons…
Abstract
Purpose
The purpose of this paper is to consider arguments both for and against intellectual property (IP) rights that are premised on each of two conceptions of the information commons that attributes either moral value or disvalue to its preservation.
Design/methodology/approach
The methodology is the philosophically standard one of reflective equilibrium. The author considers the argument for a morally protected information commons that is grounded in Locke's famous proviso limiting original acquisition of material property to situations that leave enough of the resource to others and Hardin's famous argument that holding material property in common leads to overuse and depletion – a Tragedy of the commons. In particular, the arguments are evaluated according to whether they cohere with ordinary foundational commitments.
Findings
The author argues that neither conception of the commons is directly applicable to information objects and hence is relevant with respect to the issue of whether legal protection of IP rights is morally justified.
Originality/value
The identification of key differences between material objects and information objects that shows the irrelevance of these two leading conceptions in resolving the general issue of whether legal protection of IP rights is justified.
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E.M. Hastings, S.K. Wong and Megan Walters
To examine how the allocation of property rights in multiple‐ownership buildings in Hong Kong creates an environment in which the optimization of asset value may be difficult to…
Abstract
Purpose
To examine how the allocation of property rights in multiple‐ownership buildings in Hong Kong creates an environment in which the optimization of asset value may be difficult to achieve and in this situation how owners chose to overcome the associated problems of collective action decision making to resolve issues of building management.
Design/methodology/approach
An institutional approach, drawn from the literature on common property and collective action, is used to examine the management of multiple‐ownership property. The paper uses a hedonic pricing model to empirically test whether, in such circumstances, management is reflected in property price and which mode of governance owners prefer as a mechanism for resolving problems of collective action.
Findings
The institutional arrangements for co‐ownership and use of multiple‐ownership property assets in Hong Kong have resulted in an “anticommons” environment, in which individual owners are in a position to veto action in relation to the property. In the absence of mandatory management the study indicates property prices are increased in those cases where owners have chosen to resolve the difficulties of collective decision making by forming incorporate owners' groups and employing professional management services.
Research limitations/implications
The outcome of the empirical work is the result of an initial study carried out in one district in Hong Kong and may not be generalised. In the future, the approach will be extended to other areas.
Practical implications
In the absence of a regulatory environment which ensures the management of multiple‐ownership property assets, owners may be better advised to formalise arrangements through the formation of incorporate owners' groups and appointment of professional property management agents.
Originality/value
The paper assesses the implications of an anticommons environment for the management of multiple‐ownership property in Hong Kong. Examines arrangements for collective decision making and demonstrates influence of management on property price.
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Hong Kok Wang, Cheong Peng Au-Yong, Gabriel Hoh Teck Ling and Kian Aun Law
Under Malaysian Law, the maintenance and management of common property have traditionally been viewed as insoluble challenges in the self-organisational efforts for high-rise…
Abstract
Purpose
Under Malaysian Law, the maintenance and management of common property have traditionally been viewed as insoluble challenges in the self-organisational efforts for high-rise low-cost housing developments. As the population increases, more shared resources become heavily exploited with few willing to contribute towards the sustainability of resources. Many researchers argued a better way would be to convert these shared resources into a private or state-managed entity. Hence, with that assumption, this paper aims to examine how better physical characteristics can result in greater collective action.
Design/methodology/approach
This research paper adopted a quantitative method approach to determine how the standard of physical characteristics influenced the quality of collective action in high-rise low-cost housing. The method included a questionnaire survey of 519 parcel holders chosen via stratified purposeful random sampling from four high-rise low-cost housing areas.
Findings
The paper found a positive correlation between the quality of physical characteristics and the collective action gained. The findings highlighted that the standard of workmanship of high-rise low-cost units (including the common properties), the crime rate in the neighbourhood and the condition of lift systems – when improved – were significant positive predictors of collective action.
Practical implications
Housing developers should pay attention to the quality of both low-cost units and related common properties, as this endeavour will assist greatly in future collective action management.
Originality/value
The study was justified in terms of its originality as few research studies adopted the social-ecological system framework that focused on the correlation between the quality of physical characteristics and the collective action of parcel holders.
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