Condominiums are spaces that aim to generate comfort, convenience, security, leisure, and, above all, a good coexistence between all the residents of the apartments. However, for this to happen, it is necessary to put some measures and rules that help with the well-being of the condominium owners.
In this way, we put the main characteristics and necessary laws that condominiums need to have, and we also separate the differentials that all our projects have.
Firstly, it is essential to know that in all condominiums such as Ciela Charoen Nakhon (เซียล่า เจริญนคร which is the term in Thai), each apartment or property owner, when purchasing their space, is also guaranteeing the entire area for private use and a specific fraction for common areas. Take the opportunity to understand what the useful area of an apartment is. Now let’s talk about all the requirements a condominium must have and its rules and laws.
The Condominium Law addresses all matters relating to property rights, such as property registration, and related condominium expenses, among other administrative issues. This law refers to the general statute of each condominium, making the set of rules that involve the place, such as expenses, use of the building, and questions about insurance, fires, etc. In addition, it also addresses issues related to the General Assembly.
The main matters governing this standard are compliance with rules, expenses, the general meeting, sanctions, the fiscal council, default, election or hiring of a trustee, and administrative issues, among other options.
The person responsible for managing most of the bureaucratic situations within a condominium is called the manager and maybe a resident of the building – elected by vote – or be an outsourced contractor. Among its functions are: hiring administrators, requesting quotes, regularizing all expenses related to the condominium, collecting defaulters, hiring employees, performing emergency works, and holding meetings, among other more specific tasks.
In summary, the condominium fee is the amount that all residents need to pay monthly to cover expenses and improvements to shared spaces, such as electricity, water, payment of employees, maintenance, and safety equipment, among other activities. This fee is highly variable depending on the size, location, number of employees, common space options, and the standard of the condominium in general.