Residential Village dues and Condo dues

Discussion in 'Buying & Selling Real Estate' started by Corzhens, Jul 26, 2015.

  1. Corzhens

    Corzhens Senior Investor

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    Our village is a medium-scale one with the dues pegged at 300 pesos (less than $10). For a condo in the same level, the cheapest condo dues is 3,000 pesos monthly. Comparing the 2, it is clear that a house and lot in a village is much better in terms of monthly dues. Besides, the house has more freedom than a condo which has many restrictions. The only advantage of the condo is the tight security although it is not guaranteed though, there are incidents of break-ins in condos.
     
  2. L_B

    L_B Well-Known Member

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    Would the condo dues also include maintenance or upkeep of the property? I know here that when you pay the dues it includes your mowing, snow removal, etc. In a private house you wouldn't have that.
     
  3. Penny

    Penny Well-Known Member

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    My thoughts were similar. In the US there are property taxes. These are paid to the government and are directly tied to the value of the property. No matter what kind of property it is, if it's resale value is higher, you pay more.

    As I am in a condo I also pay a monthly fee to the condo association and for that I get all costs for maintaining the building and the grounds paid for. As my association is competent and solvent, the amount I pay is reasonable.

    When I bought the place I always looked very carefully at the Association finances and what they charge. Some of them are in terrible shape and charge extra "special assessments" to get repairs done as they are essentially broke.
     
  4. missbishi

    missbishi Well-Known Member

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    It#s always worth checking if there are any service charges before signing the lease on a new apartment. Be clear what the charges are meant to cover and what you can expect in return. Here in the UK, such charges are rare for more "mainstream" accomodation but are very common for aprtments in more affluent or private areas.
     
  5. Corzhens

    Corzhens Senior Investor

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    My nephew who works in Hongkong has 3 condo units in different locations (that he had wanted me to manage). The maintenance and upkeep inside is the responsibility of the unit ownere. The company only handles repairs and maintenance outside the unit. So that includes the aisles and corridors and the exterior of the building as well. The lawn, swimming pool and other amenities are maintained by the company.
     

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