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Management and Maintenance Guidelines for TPS Estates

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Management and Maintenance Guidelines for TPS Estates Disclaimer (1) The Guidelines for Property Management and Maintenance (Guidelines) are compiled by the Hong Kong Housing Authority (HA). The information and the sample forms contained are for general reference and experience- sharing purposes only, and do not serve to provide any professional advice in relation to the matters mentioned herein. (2) Taking into account the different situations in different estates and the differing contents in their Deeds of Mutual Covenant (DMCs), Government leases, management agreements and other documents or deeds related to the properties, HA advises that any person using the Guidelines as a reference should seek professional advice with regard to specific circumstances. The Guidelines are not legally binding nor are they exhaustive in covering all the related matters. In addition, they made reference only to the legislation or codes that were effective at the time of their compilation. Any person who has any doubts about the provisions of the legislation concerned, the DMCs, the Government leases or the other documents or deeds, and the contents or application of the management agreements should seek independent legal advice, or directly contact individual organisations / Government departments or professionals for clarification. (3) HA does not guarantee that the advice and information provided in the Guidelines are entirely accurate, or can be suitably and accurately applied to any specific situation. HA shall not in any way be responsible for any liabilities or losses resulting from the use of or following the information contained herein by anybody under all circumstances. Table of Contents Foreword Chapter 1 : Tenants Purchase Scheme Chapter 2 : Operation of Owners’ Corporation and Property Management Agency Chapter 3 : Property Management Strategies Chapter 4 : Maintenance Strategies Chapter 5 : Building Maintenance Practices Chapter 6 : Building Services Maintenance Practices Conclusion Appendices References Foreword (1) Compiled by HA specifically for the estates for sale under the Tenants Purchase Scheme (TPS), the Guidelines aim at sharing HA’s experience with owners, tenants, Owners’ Corporations (OCs) and Property Management Agencies (PMAs), and providing a set of recommendations that HA believes can help them achieve good practices for property management and maintenance. Other relevant personnel in private housing estates are also welcome to make reference to it. (2) Since the TPS flats were previously Public Rental Housing (PRH) flats of HA, most of the owners are HA’s former tenants. They may be accustomed to the management models of PRH and seldom participate in the management of the estate directly. In a bid to assist the owners to participate in the management of their building, HA has specifically compiled the Guidelines for their reference based on its experience in managing PRH. It is expected that the Guidelines can supplement the other guidelines or codes on building management issued by other Government departments as well. (3) The Guidelines aim at providing owners, tenants, OCs and PMAs with the information, relevant legislation and operational practices pertaining to building management. However, this set of guidelines is merely the recommendations of HA and meant for reference only. Moreover, as management and maintenance issues in each estate are different, and that the relevant legislation or codes will be subject to amendments from time to time, users of the Guidelines shall seek advice or verification from professionals or Government departments concerned. Chapter 1 Tenants Purchase Scheme TENANTS PURCHASE SCHEME CHAPTER 1 : TENANTS PURCHASE SCHEME 1. Background Information 1 1.1 How to become an owner? 1 1.2 Owners’ benefits and protection 2 1.3 Current situation 3 2. Role of Owners 4 2.1 General owners 4 2.2 The Housing Authority 4 2.3 The Link REIT 5 3. Owners’ Rights and Obligations 5 3.1 Owners’ rights 5 3.2 Owners’ obligations 6 4. HA Tenants’ Rights and Obligations 7 4.1 HA tenants’ rights 7 4.2 HA tenants’ obligations 7 5. Sources of Management Power 8 5.1 Government lease 8 5.2 Deed of mutual covenant 9 5.3 Building Management Ordinance 9 TENANTS PURCHASE SCHEME 1. Background Information HA introduced the TPS in early 1998 under which tenants could purchase the PRH flats they were living in at discounted prices. In support of the Government’s repositioned housing policy formulated in 2002, HA terminated the TPS after the sale of TPS Phase 6B in 2005 / 2006. However, tenants in the existing TPS estates can still purchase the flats they are living in. 1.1 How to become an owner? (1) Provided that there is no breach of the existing tenancy agreement, sitting tenants in self-contained flats in the TPS estates (excluding flats for senior citizens, small-household blocks and flats for social welfare purposes) can purchase the flats they are living in. (2) There are no restrictions on the purchaser’s household income, household size and property ownership. However, the purchaser must fulfil the following conditions - • The purchaser must be an authorised occupant in the flat concerned and must be 18 years old or above; • The purchaser (can be the tenant or other authorised occupant) and all the authorised occupants included in the same tenancy must be listed in the same Letter of Offer. The tenancy concerned will be automatically terminated on the day when the deed of assignment is completed by the purchaser; and • The Letter of Offer must be verified by the relevant estate office. (3) The purchaser shall pay an Intention Money to HA when submitting the Letter of Offer in order to confirm his / her decision to purchase a flat. (4) Apart from the price of the flat, the purchaser will need to pay the stamp duty, registration fee of the deed of assignment and legal costs. The stamp duty for the flat is subject to the final assessment by the Inland Revenue Department based on the value of the property for stamp duty purpose. The legal costs will depend on the rate charged by the solicitor appointed by the purchaser. (Amended in June 2014) 1 TENANTS PURCHASE SCHEME (5) HA has reached an agreement with a number of banks and financial institutions to provide the purchaser mortgage of up to 100% of the balance of the purchase price of the flat, i.e. the actual purchase price less the Intention Money paid, for up to 25 years. The mortgage loan application is subject to final approval by the bank or the financial institution concerned. 1.2 Owners’ benefits and protection (1) Special discount • The calculation of the list prices of the flats is based on the Adjusted Replacement Cost (ARC)1; • Tenants who purchase the flats within two years from the launch of sale of the estate or new tenants who apply to purchase the flats within two years from the effective date of the tenancy can enjoy a special discount (full discount if they buy within the first year; and half of the discount if they buy in the second year); and • Sale prices of most of the TPS flats are lower than $300,000 in the first year. (2) Repairs and maintenance • HA will repair the flat prior to its sale; • HA guarantees the structural stability and integrity of the block and provides a 7-year structural safety guarantee. During this period, HA will be responsible for structural repair works of all the structural components in order to uphold the structural stability and integrity of the block; and • HA has already set up a Maintenance Fund for each TPS estate and injected an amount of $14,000 for each flat in a one-off manner in order to cover the expenses arising from Major Maintenance Works in the common areas and facilities of the estate. (3) Autonomous management • After the sale of the estate, owners can set up an OC pursuant to the DMC and the Building Management Ordinance (Ordinance) (Cap.344) and take part in the management of the building; and • By forming an OC, owners can directly monitor the work of estate management, make good use of the management fees and monitor the Maintenance Fund to ensure it is properly utilised. 1 The ARC represents the current cost of building a flat of the specified type, with adjustment for age and location. The list prices of the flats will remain unchanged for the first two years after the launch of sale of the estate, and will be adjusted every two years thereafter. 2 The adjusted list prices are applicable to the remaining flats offered for sale to the sitting tenants. TENANTS PURCHASE SCHEME (4) Safety net • Subject to the recommendation of the Social Welfare Department as well as the approval of the Housing Department (HD), an owner who faces sudden changes in family circumstances within five years from the date of first assignment of the flat may apply for reverting to the tenant status upon selling back the flat to HA. • If an owner has financial difficulties after five years from the date of first assignment of the flat, and as a result, the flat will be / has been taken over by the mortgage bank, the owner can apply to the Social Welfare Department for compassionate rehousing with a view to reverting to the PRH tenant status. 1.3 Current situation (1) Since the introduction of the TPS Phase 1 to Phase 6B, a total of over 110 000 flats in the 39 TPS estates have been sold. Both the sitting tenants and the new tenants of TPS estates may still opt for buying their rental flats. (2) Under the present policy, the list prices of the flats are subject to re-adjustment every two years with reference to the ARC. New tenants of TPS estates who buy the flats within two years from the effective date of the tenancy will enjoy a special discount (full discount if they buy within the first year; and half of the discount if they buy in the second year).
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