THE introduction of the parcel quit rent is a good solution to the previous levy on the Master Title for stratified properties. The quit rent levy on the Master Title was cumbersome as the joint management body (JMB) or management corporation (MC) would have to calculate the respective share of quit rent to be paid by each parcel owner in a development.
Not only is the quit rent collection from each parcel an arduous task, the JMB or MC would also have to ensure that every parcel has paid up before they have sufficient funds to pay the quit rent on the Master Title. These delays could potentially expose the JMB or MC to penalties and even forfeiture.