“Why do we have to pay for common area expenses of the condo when we don’t stay there very often and don’t use it much?”
And what is the purpose of a juristic person? What can it help residents with?
These questions are often asked, especially for those who are new to buying a condo for the first time.
In fact, in every project, to comply with the building regulations (condo), a condominium juristic person must be hired and appointed to take care of and manage the common property, including facilitating various matters related to the care of the condo for residents.
The common area fees that we pay do not disappear anywhere. They are used to pay the juristic person’s salary and to spend on repairs, maintenance, and upkeep of the building and various equipment in the common areas of our condo, such as maintaining elevators, wastewater treatment systems, lighting around and inside the building, parking, or hiring housekeepers, gardeners, or security guards, etc.
In addition, having a good juristic person who is good at management will also help increase the value of our condo because they will help take care of the environment of our condo to look good and make it comfortable to live in, making it easier to resell in the future.
Many old projects, even though they are in good locations, are difficult to sell. Part of the reason is the inability of the juristic person to manage and take care of them. So! When buying a condo, you must consider the “juristic person” as part of your decision.
Come find these answers in today’s latest episode of the program “Common Household Matters”.
Every problem, every issue regarding housing, find the answer with the program “Common Home Matters for the New Generation of Salarymen”
