Common Fee = Investment for Quality of Life in a Community
14 Dec 2021
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Some of us may have unanswered questions about what the common fee is, where it is used and whether we can do without paying it.
The beginning of each year is a time where a condominium owner or an owner of a detached house or town home within a housing estate managed by a juristic person team needs to makes preparations to settle the common fee (at some communities this fee may be paid in smaller amounts over shorter intervals, as opposed to annually).
Plus Property, in its capacity as a residential projects management business, would like to share information about the common fee as it is among the topics most often queried by co-owners.
Buildings and structures experience ever-ongoing decline that necessitates oversight and management. Condominiums and gated communities are the residences of large numbers of people who are co-owners at each of the community. There is need for a juristic person management team at such community, to administer affairs and maintain orderliness.
Its presence keeps a residential project attractive, well-maintained and liveable while ensuring that utilities and systems remain functional.
Funds are required for the aforementioned work; the common fee is the source of funds used for this purpose and gets distributed towards various tasks. The common fee could be viewed as money invested by co-owners towards receiving good quality of life within a residential project.
Where is the common fee used?
Behind any residential project that is physically attractive and which offers delightful greenery, liveability, safety and peace of mind, is a team of people who work to make sure that the lights stay on, the lifts are serviceable and the water and power feeds are uninterrupted.
These personnel maintain, inspect, repair and manage items and systems in need of their service to keep everything in good condition. The common fee is distributed towards these affairs as appropriate:
Juristic person team
Cost goes towards upkeep for the personnel who provide residents with assistance and facilitate their convenience. They handle paperwork, manage residency rules, mediate and coordinate on issues that arise within the community, and handle parcels.
They also hold activities that respond to the lifestyles of the residents and which are meant to promote positive exchanges within the community and its overall living appeal.
Housekeeping and gardening
Cost goes towards hiring housekeepers and gardeners; the former keep the residential development clean and hygienic and the latter maintain the beauty of the shades and gardens.
Security
Cost goes toward hiring security companies and guards to look after security at the residential project. Selecting a well-known company highly regarded for its professionalism helps reinforce residents’ peace of mind and ensures that standards are met in delivering security for the lives and assets of residents.
Building systems engineering
Cost is present due to the need for maintenance of the various systems within a building. Said maintenance is done by engineers and mechanics who are proficient in their work. Building systems are kept running optimally and residents are able to continue using said systems in safety. Expenses are involved in system maintenance, replacement, improvement and repairs.
Significant damage in a system would incur massive expenses. This can be avoided if a residential project is overseen by competent engineers and mechanics. Preventive maintenance is employed to avoid any incident, and maintenance schedules are followed in accordance to the usage intensity of machines and systems. The risk of large repairs is thus reduced.
Physical repairs and renovation
Cost exist because, as mentioned earlier, buildings and structures experience ever-ongoing decline. Fees for aesthetic improvement and physical repair will be incurred as a project ages. Examples are tiles replacement and repainting in the common area, garden hedge renovation and rope access external repairs.
These costs enable the juristic person administration team to oversee all elements of a residential project efficiently, provided that an adequate budget is made available for all the fees. For the residents, the end result is a liveable and attractive property development whose physical state remains consistent with that of day one.
The common fee is both crucial and worthwhile, as it produces quality of life gains at a residential development.
Some co-owners might not have been using the common area much, while some may wonder whether the common fee had been necessary during the bouts of COVID-19 outbreaks when common areas at many residential developments were not in service.
In fact, there are maintenance and repair expenses even when common spaces are not in service (such as for maintenance inspections or a major cleaning for the swimming pool).
Upkeep for the common area is not limited only to the fitness room and recreation room. The utilities and other systems used by project residents and the delivery of security all incur costs.
The common fee is, demonstrably, not an unwarranted expense. Rather, it is a necessary investment that produces good quality of life through a project‘s physical appeal, amenities, security and the availability of helping hands that assist residents in their daily lives. One is able to live harmoniously inside such a residential development, where property values will naturally increase.
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Plus Property is a full-service professional real estate agency that provides comprehensive assistance in reselling/letting properties and the purchasing of second-hand condominium units. With more than 20 years of experience, PLUS’s team of quality professionals manages residential and commercial properties and also manages projects’ sales and marketing, heeding to all types of demand.
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