Question 1

What are the ongoing costs of owning a property at Lake Avenue?

Accepted Answer

The common area maintenance fee at Lake Avenue is per square meter based on the size of the indoor area of the property. This fee has to be paid every month by owners for the upkeep of the common areas of the project. For new residential developments, it is common to pay up to 1-3 years’ common area maintenance fees in advance upon the transfer of the properties' ownership.

Question 2

What is the sinking fund and how much is it at Lake Avenue?

Accepted Answer

For new projects, the buyer pays a one-off lump sum upon transfer of the property from the developer to the buyer. This fund is to be used for major renovations and replacement of equipment when necessary, to ensure the maintenance of the building and the common area. At Lake Avenue the required payment for the sinking fund is per square meter based on the size of the indoor area of the property.

Question 3

How much is the guaranteed rental return at Lake Avenue?

Accepted Answer

Lake Avenue offers a guaranteed rental return of (based on the purchase price of the property) for a duration of.

1 Bedroom Condo for rent at Lake Avenue

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