Condominium Association Rules1207943

Condominiums make for wonderful living choices for homeowners who are reluctant to bear the high maintenance costs that are usually associated with individual "houses". When you are buying a LIV @ MB you might be actually buying a particular unit of a complex which can be home to several other condos (or condominiums) and you're simply free to do anything whatsoever within the four walls of one's rooms. There is also to enjoy facilities like gyms, pools, lawns, gardens and roofs but you have to remember that they (these facilities) are shared by every one of the residents of the complex. There's a strict legal framework governing the usage of the shared area of the property and you've got to pay a regular monthly fee for regular maintenance of these spaces.

A couple of rules and regulations which each and every potential condo buyer should become aware of

The monthly or semi-annual or annual fee which you will be paying for your shared property is decided by the size the unit of you. The association or the collection fee being paid by you is used for the upkeep of

-Pool maintenance -Lawn services -Trash removal services -Club house maintenance -Exterior repairs -Maintenance of roads The condominium association plays an integral role in establishing the laws and by-laws which are recorded with the local land office (details available with the unit division). As soon as you decide to buy one in the complex you will end up clearly made aware of the owners' and also the association's responsibilities when it comes to maintenance and repair work. For example, while homeowner's are responsible for their own patio space the association accounts for the maintenance with the gym.

Condominium associations are legal entities and as such enjoy the to impose fines on members who flout the relevant norms managing the condo management. Once you start surviving in a condo you then become a member of a community. Just as a residential district is governed by a set of laws directed at preserving societal harmony so is a condo. So, make sure that you are buying a condominium, keeping these points in your mind.

What can you do?

If you're willing to buy a condo (like the botanique at bartley) anytime soon then we indicate that you sit back with an attorney to review the laws and bylaws managing the particular bit of property you want to buy. It is unwise to get a condominium without understanding relevant regulations and rules.

One of the biggest factors influencing your decision to buy a flat would be its location. You'd definitely want something which is well associated with the popular way of transport and is also in proximity to varsities, hospitals and malls. For instance a condominium near bartley mrt would certainly be higher in your preference list rather than some remotely located housing association.

Keep the location in your mind while investing in a condo. Keep the rules and regulations at heart too! Best of luck with your search!