Condo Maintenance fee?

[jipi]

Typically, condo assocation dues are costs allocated to individual unit owners taking into account the ff:

1. Maintenance of the common areas (i.e. cleaning and repair of the grounds, corridors, water features, landscaping, mechanical, electrical and plumbing facilities, elevators, amenities, landscaping and replacement of consumables like bulbs).

2. Security services

3. Utilities used in the common areas i.e. electricity

4. General and administrative expenses i.e. salaries of condo corp. employees and costs of operations (normally this is fixed)

Certain special assessments are made for expenses such as:

1. Real property tax on the common areas

2. Comprehensive all-risk insurance for the building and common areas

3. Extraordinary expenses for major repairs or repainting of the building or any part of the common areas

It really depends on the kind of lifestyle and quality of service which unit owners expect of the condo corp. Rockwell and other hi-end condos provide hotel-like service in that almost any problem or concern regarding an individual's unit is taken care of by the condo corp. including cleaning of the unit.

Do you have any idea how much yung real property tax? annually siya d ba?

How much kaya yung comprenesive all risk insurance for the building and common area? d ba divided rin siya based sa sq meter ng unit?

thanks

[Altis6453]

Do you have any idea how much yung real property tax? annually siya d ba?

How much kaya yung comprenesive all risk insurance for the building and common area? d ba divided rin siya based sa sq meter ng unit?

thanks

The real property tax assessment depends on where the condo is situated and the assessed value of the land and building made by the LGU. You can check the condo corp's copy of the Tax Declaration of the lot and the building, otherwise go to the local assessor's office. Divide that amount by the total saleable area and you get the amount of RPT per square meter. Yep, it's annual.

Regarding C.A.R. insurance, the insurable amount takes into account how new (or old) the condo project is, the amount of risk exposure to fire and other possible incidents resulting in damage to property. The starting point of the amount insured would be the total project cost declared by the Developer. The insurer will then assess a premium which, in turn, will be divided by total saleable area to get the allocated amounts due from each unit owner. Depending on the policy obtained by your condo corp., the renewal of the insurance is also yearly. Sometimes, the condo corp. can save by getting a longer period of coverage and having the allocated premium payments by the unit owners spread over a period of anywhere from 12-18 months.

[_Qwerty_]

annual RPT
Mandaluyong area = boils down to about 50 to 60 pesos per sqm (example for a 40 sqm condo = Php 2,000 to Php2,400 yearly)

Taguig (BGC) = around 150 to 170 pesos per sqm

Do you have any idea how much yung real property tax? annually siya d ba?