Quit rent increase will be minimal, Penang CM assures high-rise owners

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The chief minister says the parcel quit rent system implemented this year is fair. FMTNews Penang

The parcel quit rent system for Penang’s apartments and stratified units was implemented early this year.

Chow said strata title owners will not have to worry about having to pay much more under the new parcel quit rent system, which came into effect only this year. He said balconies and car parks will be given 50% off, while common areas such as swimming pools or other utilities will not be charged. He said the state has collected RM1.5 million so far under the new system and will not charge a RM50 late payment penalty for those settling their dues by May 31 next year.Since Jan 1, Penang had migrated from the old quit rent system to the parcel quit rent system for stratified properties.

 

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