Condominium Association Rules9890766

Condominiums make for wonderful living options for homeowners who are reluctant to bear the high maintenance costs which are usually related to individual "houses". When you're buying a LIV @ MB you are actually buying a particular unit of the complex that is home to several other condos (or condominiums) and you are free to do anything within the four walls of your rooms. You also get to enjoy facilities like gyms, pools, lawns, gardens and roofs however you have to keep in mind that they (these facilities) are shared by all the residents of the same complex. There's a strict legal framework governing the usage of the shared area of the property plus you've got to pay a monthly fee for regular maintenance of these spaces.

A few rules and regulations which each potential condo buyer should be aware of

The monthly or semi-annual or annual fee which you will be paying for your shared property is determined by the sized the unit of you. The association or the collection fee being paid on your side 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 a key role in establishing the laws and by-laws which are recorded with all the local land office (details available with the unit division). Once you decide to buy a unit in the complex you will be clearly informed about the owners' and also the association's responsibilities in terms of maintenance and repair work. For instance, while homeowner's have the effect of their own patio space the association is responsible for the maintenance of the gym.

Condominium associations are legal entities and as such enjoy the right to impose fines on members who flout the kind of norms managing the condo management. When you start living in a condo you feel a member of a community. Just as a residential area is governed by a set of laws aimed at preserving societal harmony so is a condo. So, make certain you are buying a condominium, keeping these points at heart.

What can you do?

If you are willing to purchase a condo (like the botanique at bartley) in the near future then we indicate that you sit back with an attorney to study the laws and bylaws managing the particular piece of property you want to buy. It's unwise to get a condominium without understanding relevant regulations and rules.

One of the biggest factors influencing your decision to buy an apartment would be its location. You would definitely want a thing that is well associated with the popular method of transport and it is in proximity to varsities, hospitals and malls. For example a condominium near bartley mrt would be higher on your preference list as opposed to some remotely located housing association.

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