What is a condominium, the condominium facilities? The homeowners

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2018-03-19 03:11:26

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Our time-continuous age of globalization. And because not surprising the fact that in many countries there is a process of bringing people together in various organizations and communities. Today many of us still do not know what a condominium, for our country this concept is still associated with something distant and little known. However, the condominiums are already widespread in many States.

General description

So, what is a condominium? Under this concept hides a not given structure or building and form of ownership of a particular apartment complex. Parallel to this, each apartment belongs exclusively to its owner, and such areas as stairwells, halls, technical floors, yards and grounds, are jointly owned by all residents. This concept can apply not only to one residential house, and the whole complex of buildings.what is a condominium

History

Initially, about what a condominium was out, residents of the UK. Such a system of ownership and management of real estate exist in Australia, but there it is called Strata Title. Very active use of condominiums in Canada and the United States. If to speak about Russia, it is absolutely identical to the analogue of the considered term can be considered a homeowners Association (HOA). Also condominiums are widely distributed in the United Arab Emirates, India, South Africa, Singapore, Thailand.

Features

This form of ownership is characterized by the fact that it lacks the concept of the lease. This also eliminates the chance to own a property for a limited period of time. All of the condos their property – real estate.

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Absolutely all property which is part of the condominium is owned by the apartment owners. As for solutions to the questions on the content, for example, the local area or other common property, such nuances landlords decide at General meetings, which are held on a regular basis, at the agreed time. These meetings can also address issues about how will the management of the apartment house or complex of houses.homeowners

The Establishment of a condominium in the Russian Federation

The Association of tenants is created as follows:

  • A Preliminary stage. So-called active group (owners of the house or apartments) collects various documents, shall prepare the draft Charter of the Association, communicates with the other owners of residential area, selects the on Board.
  • Meeting. that will be a meeting of all homeowners to notify in advance. Not less than two weeks before the scheduled date. In this meeting issued the Charter of the condominium and held a vote to choose the Board.
  • Check. registration of newly formed enterprises to public authorities shall be made without charge and held for months. In the same period when all the required documentation will be issued and received, the chair will initiate the account opening, which subsequently, all the residents will make the payment payments.Chairman TSZH

The advantages of the condo

The advantages of such enterprises is as follows:

  • High degree of liability of each owner for the content in the proper form of their homes. And all because this condominium provides several owners of the house, which together contain the total area. In this regard, every owner is starting to get serious about how to your personal and joint property.
  • Those funds, which lists the condominium as payment for utilities, are not subject to any taxes since the Association is a non-profitable organization.
  • In cases where condominium living of the poor citizens, they have the legal right to file a statement with the purpose of obtaining the subsidy from the state for the payment of utilities.
  • Apartment Owners have the right to decide all issues that affect the condominium facilities. Also people dispose of funds that should be used to address business needs.
  • Residents of a condominium are in control of the money spent on conducting, for example, major building renovation or repair of a roof.
  • Homeowners have the right to dispose of their existing flats and to make various deals with them. In addition, the General Assembly, it is possible to solve the issue of the use of the common areas of the condominium, so allowing the receipt of income in favor of the merger.
  • The Solution to various problems in the judicial procedure proceeds much more efficiently in the condominium than in the person of one man.
  • The Owners of apartments that have substantial debts for municipal services, according to the decision of the General meeting can make a contribution in favour of the condominium to repay the debt.

The absolute advantage of such an Association can be considered an investment in his property. Most people in the Western world use the option to save the accumulated funds by investing them in the condo because it is convenient, and most importantly-reliable. These investments are fully protected from inflation or other risks. Special attention is drawn to those objects whose price is increasing over time. Fully justified and proven fact is that the condition of the residential space (apartments) has very little effect on the final cost. In this case, the main role is played by the location and the cost of maintenance of the condominium common area of the apartment, age of the residential complex or home.apartment building management

Negatives

The Main drawback of the condominium can be considered registration in the state bodies. This is an extremely difficult task, which requires a lot of investment of time and effort. In cases where such joint ownership of property is recorded for the first time, a technical passport of this Association is made at the expense of budget funds.

Another negative quality of a condominium is the maintenance of housing. Due to the fact that the load on the repair and maintenance of communications systems falls on the shoulders of owners of apartments, and pay for all of these operations are also carried out of their pocket. Territory enterprises are subject to land tax.

Reserve Fund

Understanding what a condominium is to point out the presence in this Association special reserve Fund for unplanned expenses, covering the effects of various force majeure (e.g., fire or sewage failure). This practice takes place in many developed countries. This condominium cost of the repairs are covered by total savings, and the required work is performed only checked contractors. This competent management of the apartment building and led to the popularity of condominiums in Europe and America.

A distinct advantage

Accommodation in a condominium is much cheaper than in some private house. The difference in price between these two properties can reach hundreds of thousands of dollars. In addition, the tax on private house more than a condominium.

Russian reality

In the Russian Federation, the condominium act was approved on 15 June 1996. This paper argues that the condominium – the combination of both residential and non-residential premises, land and communications of a residential apartment building or several single family houses type. However, from 1 March 2005, the concept of condominium in the Russian legislation ceased to exist. Modern Housing code provides for the analogue of the described unions – the homeowners Association that should be considered in more detail.two landlord

Formation of partnership

Creates a partnership based on the decision of the meeting of the apartment owners, which is conducted on the basis of articles 45-18 LCD Russia. The partnership is considered created when it is the majority vote of the votes of all apartment owners. It is important to note that not all property owners in an apartment building become members of the HOA automatically. For this you need to write an application for membership in the Association. In addition, at any time a member of the Association has the right to withdraw from the non-profit organization, a person who is not a member of the HOA, could also in the right time to join the organization. Also selects the Chairman of the HOA.

Vote

The Legislation does not prescribe exactly how it should conduct the counting of votes at a meeting of the HOA.

Counting

  • Number of votes is in direct proportion of the total area of the premises. Simply put, the larger the area, owned by a man – the more votes it has at the General meeting.
  • One member of the HOA shall have one vote. Even if the owner owns several premises, he still would not have any advantages. If there are two owner...

Article in other languages:

AR: https://tostpost.com/ar/finance/1565-what-is-a-condominium-the-condominium-facilities-the-homeowners.html

BE: https://tostpost.com/be/f-nansy/2711-shto-takoe-kandam-n-yuma-ab-ekty-kandam-n-yuma-tavarystva-lasn-ka-zhyl.html

DE: https://tostpost.com/de/finanzen/2709-was-ist-eine-eigentumswohnung-objekte-eigentumswohnung-die-wohnungseig.html

ES: https://tostpost.com/es/finanzas/2714-qu-es-un-condominio-los-objetos-de-un-condominio-el-consorcio-de-propi.html

HI: https://tostpost.com/hi/finance/1565-condominium-homeowners.html

JA: https://tostpost.com/ja/finance/1564-what-is-a-condominium-the-condominium-facilities-the-homeowners.html

KK: https://tostpost.com/kk/arzhy/2712-kondominium-degen-m-z-ne-kondominium-ob-ekt-ler-t-r-yn-y-mensh-k-ieler.html

PL: https://tostpost.com/pl/finanse/2715-co-to-jest-kondominium-obiekty-kondominium-stowarzyszenie-w-a-cicieli-.html

PT: https://tostpost.com/pt/finan-as/2712-o-que-o-condom-nio-objetos-de-um-condom-nio-a-sociedade-de-propriet-ri.html

TR: https://tostpost.com/tr/maliye/2717-nedir-kat-m-lkiyeti-nesneleri-kat-m-lkiyeti-mi-ortakl-k-sahiplerinin-k.html

UK: https://tostpost.com/uk/f-nansi/2714-scho-take-kondom-n-um-ob-kti-kondom-n-umu-tovaristvo-vlasnik-v-zhitla.html

ZH: https://tostpost.com/zh/finance/1690-what-is-a-condominium-the-condominium-facilities-the-homeowners.html






Alin Trodden - author of the article, editor
"Hi, I'm Alin Trodden. I write texts, read books, and look for impressions. And I'm not bad at telling you about it. I am always happy to participate in interesting projects."

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