Owning a Condominium unit is popular nowadays. Considering the benefits of a “condo life”, a lot of people would truly opt to live in a condominium compared to buying their own house. Naturally, as an owner of a condominium unit, they possess all the rights of ownerships attributable to the unit, they are:
- Right to absolute ownership over the condominium unit;
- Right to paint, repaint, tile, wax, paper or otherwise refinish and decorate the inner surfaces of the walls, ceilings, floors, windows and doors bounding his own unit.
- Right to exclusive easement for the use of the space of his unit;
- Right to sell, lease, or mortgage the unit;
- Right to utilize the common areas of the condominium building, subject to restrictions, limitations or easements, as provided in the articles of incorporation (AOI) and by-laws of the condominium corporation, and such rules and regulations it may promulgate;
- Right to become a member of the condominium corporation;
- Right to participate and vote in the condominium corporation meetings and to elect members of the board; and
- Right to non-exclusive easement for ingress, egress and support through the common areas.
It must be noted, however, that rights come with obligations. Thus, Condominium owners are not exempt from upholding these responsibilities which are the following:
- Payment of Association Dues
This is one of the most important obligations of a condominium owner.Like taxes, association dues is the lifeblood of the condominium corporation. Being an owner of a condominium requires you to pay your monthly association dues. It supports the condominium building’s maintenance and repairs. Typically, the association dues go to the materials needed for the maintenance of the common areas, and salaries of the condominium corporation’s workers such as janitors, security guards, receptionists, and etc.
Late payments may delay the completion of maintenance work which can result in the deterioration of the unit and the building itself. Thus payment of association dues is a shared obligation to ALL unit owners towards the condominium corporation.
- Payment of Utilities
Just like owning a house, payment of utilities is a continuing responsibility of the condominium owner. Utilities pertain to the electricity and water bills that the unit owner consumed in his/her unit. As long as the unit owner continues to use electricity and water, he/she has the responsibility to pay the same. Otherwise, the condominium corporation may impose proper penalties as indicated in the master deed or house rules.
- Compliance with condominium rules and regulations
A condominium owner must follow the rules and regulations being imposed by the condominium corporation, which are for the benefit of condominium owners and maintenance of common areas. Unlike houses, condominium corporations usually have a set of house rules which condominium owners are required to follow – they may prohibit pets, or prohibit smoking, or impose rules for security purposes, etc. All these are obligations which the condominium owner should be aware of and must be followed.
Note, upon signing the deed of absolute sale, the buyer of the condominium becomes automatically a member of the condominium corporation thus he/she must comply with the rules and regulation of the building to carry out an orderly and peaceful condo life.
- Maintenance of the unit
While the condominium dues are for the upkeep of condominium building and its common areas, the maintenance of the condominium unit solely rests on the condominium owner. This usually refers to the cleanliness and repairs of the condominium unit that are required before it causes deterioration to the entire building.
- Pay your taxes!
Every property owned has an equivalent payable tax. The obligation of the condominium owner is not only limited to the condominium corporation, but also to the government. A condominium owner is mandated to pay his or her Real Property Tax (RPT) which may be 1% of the assessed value of the property.
- Respecting your condominium neighbors
As stated a condominium building is share by different condominium unit owners therefore it is important that owners respect their neighbors to avoid conflict within the condominium building, these would refer to usual condominium building etiquette such as not cooking odorous foods, noise reduction, or controlling your pet’s behavior, keeping your unit clean to avoid pests and etc.
Whether you own or rent a condominium, these responsibilities are essential to carry out peaceful day-to-day activities of condo life.
There are instances, however, that condo life might not be all that rosy. For example, you have issues with the condominium association as to how the condominium complex is being run, or with your neighbor, for example there is an on going leak that has not been resolved for months, or the noise of the neighbor has become unbearable, in these situations, there is a process to raise your issues before the condominium association so that your complaint can be resolved. For those difficult issues, it may be time to hire a lawyer to assist you in protecting your rights and interests.
Need further information and assistance on legal matters? Talk to our Legal team at Duran & Duran-Schulze Law to know more about the requirements and process. Call us today at (+632) 8478 5826 or send an email to info@duranschulze.com for more information.