What is the maintenance fee in Singapore real estate?

Maintenance fees typically cover ongoing expenses to manage and upkeep the property’s common areas. For new units, the developer will collect maintenance charges from the earlier of either:
• The date the buyer takes possession, or
• 15 days after the buyer receives the Notice of Vacant Possession.

For the initial half-year, payment is made in a lump sum. After that, maintenance fees are usually billed and paid quarterly in advance. In strata developments, owners (subsidiary proprietors) contribute to the management corporation’s funds (for day-to-day outlays) and a sinking fund (for major repairs), generally in proportion to their share value.