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Things To Know About The Condo

Best Tips For Buying A Condo In 2021 | Bankrate

Despite all the expansion of this sector, many people do not understand the concept of condominiums like the condo in Charan area (คอน โด ย่าน รั which is the term in Thai) or how they work. This article aims to answer those questions by presenting everything you need to know about these places.

What Is A Condominium About?

In practice, a condominium can be defined as a space divided by several owners who also share common areas. Each owner has their private unit, according to the specifications made at the time of purchase. Concerning common areas, unit owners have the same rights and duties.

What Is A Joint Owner?

As it is known, the condominium consists of the resident of the space, whether he is the owner or just a tenant. Each of them has rights and duties within the condominiums, whether related to private or common areas. In addition, they have the mission of deciding the actions to be taken in the project during meetings.

Who Are The Condominium Managers?

The primary manager of a condominium is the manager. The person who exercises this function acts as a representative of the unit owners, is elected at the assembly, has the mission of managing the projects satisfactorily, and can be a resident or a professional liquidator.

In addition, if it is of common interest, it is possible to hire the services of a condominium administrator. This will act as a support to the liquidator, carrying out a series of activities.

What Is A Condominium Fee?

In short, the condominium fee consists of the amount that residents must pay each month, defined in the form of an apportionment, which is used to cover the expenses and improvements to the condominium. Among them are electricity, water, payment of employees, maintenance, safety equipment, reserve fund, and other actions aimed at the owners’ well-being. Make sure your condo is paired already with one of the best electricity companies in Dallas, so your power bill will be more affordable.

Derrick James
the authorDerrick James
Derrick Williams: Derrick, a political analyst turned blogger, covers national and global politics with clarity and depth. His thoughtful, unbiased reporting makes his blog a highly trusted resource.