BadaBing Posted July 26, 2006 Report Share Posted July 26, 2006 ok , i'm a condo owner in the states , here we have what is referred to as a H.O.A. or , Home Owners Association , more or less a group of owners who run the everyday business of upkeep of the grounds. Gardeners , pool , lights , etc, etc. We all pay each month an agreed amount to maintain the complex. In Bangkok , same-same , property management or every fish for them selves ? Bada Bing Link to comment Share on other sites More sharing options...
ThaiHome Posted July 26, 2006 Report Share Posted July 26, 2006 Yes, referred to here as the omnipresent juristic person. At closing we paid 2 years of fees in advance. This includes common area maintenance as well. We also pay our share of common area utilities each month. There does not appear to be a vehicle for the â??co-ownersâ? to actually take over; it remains in control of the juristic person (forever I guess). TH Link to comment Share on other sites More sharing options...
Pom Michael Posted July 27, 2006 Report Share Posted July 27, 2006 ThaiHome, The "Juristic Person" is the co-owners, that is the legal term for the Condo Association. In practice however, the condo developer normally sets up the entire Condo Association and at least in the beginning the "Juristic Person" is basically just the developer or his appointed directors as they will be the first "co-owners". The real problem arises when the development is complete, but not fully sold/leased/rented out. Any unsold units, the developer should pay the maintence fees. Also, any unfinished units the co-owner still should pay - but in practice many do not and the Condo Association has no recourse except to deny utilities to the unit until they pay (doesn't matter if the unit is not being lived in). So, in the beginning there is suppose to be a "sinking fund" of maintenance money to keep up the property, but again that isn't always available to the Condo Association. Then add in the whole 51% Thai minimum requirement and it can become a major headache if the Condo Association is too weak or too strong. Have seem some real crazy places with out of control Condo Associations (not only in Thailand)! Link to comment Share on other sites More sharing options...
ThaiHome Posted July 27, 2006 Report Share Posted July 27, 2006 You are correct, I should not have used the juristic person to describe the developer. In my case, the juristic person (under the control of the developer) has hired a management company (local office of large MNC) to run it. The building was 100% sold out before construction was complete, actually before all concrete was poured. So far so good, but there is always the risk of what happens some years down the road...same as any condo anywhere in the world. TH Link to comment Share on other sites More sharing options...
Guest HonoluluJimmy Posted July 27, 2006 Report Share Posted July 27, 2006 How is the standard of 51% watched. You buy in and then there a some sales that render less than 51% Thai owned? If your sale makes the building in violation is the sale prohibited and is the standard established building by building, by the entire project, or by the developers total holdings? How does the Farang get fucked in the deal? Link to comment Share on other sites More sharing options...
shygye Posted July 27, 2006 Report Share Posted July 27, 2006 TIT, If a Thai wants your condo, then he can use the 51% rule to force the sale. I believe there are also regulations that only Thais can own the condos on the first 3 floors on high-rise buildings. Get a good real estate lawyer to be sure you comply with ALL regulations. Link to comment Share on other sites More sharing options...
ThaiHome Posted July 28, 2006 Report Share Posted July 28, 2006 How is the standard of 51% watched. You buy in and then there a some sales that render less than 51% Thai owned? If your sale makes the building in violation is the sale prohibited and is the standard established building by building, by the entire project, or by the developers total holdings? How does the Farang get fucked in the deal? Not an issue for me. Condo is in wife's name. And before everyone has a go about that, we have been together for over 6 years and lived in 4 countries and I completley trust her as she trusts me. I have no worries. TH Link to comment Share on other sites More sharing options...
BadaBing Posted July 28, 2006 Author Report Share Posted July 28, 2006 It sounds as though you pay by the unit size ? For consumption ? I / we pay by unit , the only utility paid by the HOA is water , gas / electric I pay. Bada Bing Link to comment Share on other sites More sharing options...
ThaiHome Posted July 31, 2006 Report Share Posted July 31, 2006 The management fee is by the sq meter. We pay our own elec/water as there are seperate meters for each unit. I was refering to elec/water for the common areas which is again split by size or your unit. This is a brand new building so we haven't evne seen the first monthly bill yet. TH Link to comment Share on other sites More sharing options...
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