Property Management Companies are set up mainly to provide a forum for all owners to be represented equally and to hold title to the common areas of the development be it apartment block or housing estate.
On this topic, here is an article that has recently appeared in 'Accounting Matters'...
"Property Owner Management Companies are companies set up to hold title to common areas of apartments and housing estates. The company pays for maintenance etc. and bills this to the residents as an annual service charge. It is usual for the title to the land to vest with the developer until they have finished the development and then transfer once the development is complete. It has now become common for builders to delay transfer of the common land sometimes in the hope of further developing the land or sometimes just by oversight. This does not preclude the Property Owner Management Companies charging residents their annual service charge although it is likely that an auditor will put in an emphases of matter paragraph in their audit report drawing attention to the non transfer. Not owning the grass does not mean that you can't mow it and you certainly have an insurable interest in maintaining the property you may not technically own.
However, it is very common for the property transfer agreements to state that the builder is responsible for maintenance until the common area is transferred. For some reason this seems to have been ignored in most developments. An auditor would be minded to check the transfer agreements as there may be no basis for charging the annual service charge where the builder has held on to title to the common area and this standard clause is in the transfer agreement."
While the author of this article may note that "there may be no basis for charging the annual service charge" the reality is that if the owners do not pay service charges to maintain the common areas the chances are the the builders will not pay it and this will lead to a long dispute all the while the development is deteriorating and the value of the properties within are affected negatively.
Delicious
Digg
Facebook
StumbleUpon
Wed, 10/11/2023 - 10:20
I like this blog its a master peace ! Glad I detected this on google . Best Kolkata Durga Puja Pandals
»
Wed, 10/11/2023 - 09:59
Whether you're a foodie, culture enthusiast, or nature lover, the Best time to visit Hong Kong is undoubtedly in the fall, so start planning your trip today.
»
Wed, 10/11/2023 - 09:50
Great info! I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have 먹튀검증
»
Wed, 10/11/2023 - 09:49
It's essential not to wax or pluck the hair in the treatment area before your laser session. Shaving the area the day before your appointment is usually recommended to ensure the laser targets the hair follicles effectively. laser hair removal near me
»
Wed, 10/11/2023 - 09:35
Want more online visibility? Focus on 구글 상위노출.
»
Wed, 10/11/2023 - 08:31
Protect your skin when going outdoors by applying sunscreen to the treated areas. Laser-treated skin can be more sensitive to UV radiation, so take extra precautions to prevent burns or skin damage. waxing hair removal service
»
Wed, 10/11/2023 - 08:30
Get your hands on our timeless Western outerwear at The Yellowstone jackets for men women with Free Shipping Worldwide Easy Returns
»
Wed, 10/11/2023 - 08:17
"Hello, I enjoy reading all of your article. I wanted to write a little comment to support you.
" 드라마 다시보기
»
Wed, 10/11/2023 - 07:37
It's full of amazing data. I was impressed Your presentation has been well investigated and well written to convey your position on this to all readers. 메이저사이트
»
Wed, 10/11/2023 - 07:31
Thank you for some other informative blog. Where else could I get that type of information written in such an ideal means? I have a mission that I’m just now working on, and I have been at the look out for such information. car recovery near me
»
Wed, 10/11/2023 - 07:14
Very useful info. Hope to see more posts soon!. car towing service dubai
»
Wed, 10/11/2023 - 06:38
I discovered your blog site site on the search engines and check several of your early posts. Always maintain up the very good operate. I recently additional increase Rss to my MSN News Reader. Looking for toward reading much more on your part later on!… Best Dandiya Night Decoration Ideas
»
Wed, 10/11/2023 - 06:34
During your first session, consider opting for a lower laser setting. This cautious approach allows your skin to adapt to the treatment, reducing the risk of burns and adverse reactions. organique hair
»
Wed, 10/11/2023 - 05:09
real driving license and registered on our website without taking any exam or taking the practical test. all we need is your details and it would be logged into the system within the next eight days. The driver's license must go through the same registration procedure as those issued at driving schools,
Comprar carta de conducao online
rijbewijs kopen
»
Wed, 10/11/2023 - 05:03
The Best time to visit sri lanka is during the dry season, from December to April, when the weather is ideal for exploring the country's diverse landscapes and cultural attractions.
»
Wed, 10/11/2023 - 01:41
But wanna comment that you have a very nice internet site , I love the style and design it really stands out. collagen tablets
»
Tue, 10/10/2023 - 12:30
Very informative post! There is a lot of information here that can help any business get started with a successful social networking campaign.
»
Tue, 10/10/2023 - 11:21
Get your hands on our timeless Western outerwear at The Yellowstone jackets for men women with Free Shipping Worldwide Easy Returns rips jacket
»
Tue, 10/10/2023 - 09:42
What is an outstanding post! “I’ll be back” (to read more of your content). Thanks for the nudge! 광명마사지
»
Tue, 10/10/2023 - 06:38
I should assert barely that its astounding! The blog is informational also always fabricate amazing entitys. Seo Service Cananda
»
Tue, 10/10/2023 - 06:30
"all the time i used to read smaller articles or reviews that as well clear their motive, and
that is also happening with this post which I
am reading now." 누누티비 시즌2
»
Tue, 10/10/2023 - 05:13
Sun exposure can increase the risk of burns during laser hair removal. Make sure to inform your technician about any recent sun exposure, and they may recommend rescheduling your appointment to prevent complications. Water wave crochet hair Commercial
»
Wed, 11/01/2023 - 02:02
Are you searching to buy driving license online, buy real drivers license online and buy real ID online? Your search has made you land on the right page. We are one of the top registered drivers license providers.
https://comprarepatentediguida.com/
https://xn--kupitivozakudozvola-4kc.com
https://cumparapermisdeconduceree.com
https://comprarcarnetdeconducirb.com/
risicovrije serviceden voor iedereen die problemen ondervindt of het theoretische deel van de rijexamens niet kunt halen.
bij ons en zonder examens weet je zeker dat je een echt,
https://cumparapermisdeconduceree.com/
Are you searching to buy driving license online, buy real drivers license online and buy real ID online? Your search has made you land on the right page. We are one of the top registered drivers license providers. comprar carnet de conducir en españa
https://xn--kupitivozakudozvola-4kc.com
echt rijbewijs online te kopen en een echt identiteitsbewijs online te kopen? Je zoekopdracht heeft ervoor gezorgd dat je op de juiste pagina bent beland. Wij zijn een van de best geregistreerde aanbieders van rijbewijzen. We staan ??bekend om ons harde werk en tevreden klanten.
https://comprarcarnetdeconducirb.com/
»
Tue, 10/10/2023 - 04:05
You are actually a perfect website administrator. The website stacking speed is astonishing. Feeling like you're making any obvious traps. Moreover, its essence is a perfect artwork. You have already completed a wonderful action regarding this matter메이저놀이터
»
Tue, 10/10/2023 - 11:00
I like review sites which grasp the cost of conveying the fantastic helpful asset for nothing out of pocket. I genuinely revered perusing your posting. Much obliged to you! juice bar la
»
Tue, 10/10/2023 - 03:32
Coincidentally, seeing your post made me feel happy. I am truly honored to see it and have fallen in love with your words. Words have power and can shock people to get some ideas. I like your post and hope you can take it to the next level. 토토사이트
»
Mon, 10/09/2023 - 22:45
line te kopen en een echt identiteitsbewijs online te kopen? Je zoekopdracht heeft ervoor gezorgd dat je op de juiste pagina bent beland. Wij zijn een van de best geregistreerde aanbieders van rijbewijzen. We staan ??bekend om ons harde werk en tevreden klanten.
https://comprarcarnetdeconducirb.com/
»
Mon, 10/09/2023 - 17:01
Very informative and great complex body part of articles , now that’s user pleasant (:. International Movers France | International Moving Company France | Overseas Moving Companies France
»
Mon, 10/09/2023 - 16:02
Watch popular Tamil series and TV shows in HD on TamilDhool. Explore Tamil Dhool to enjoy the latest programs in high quality from channels like Vijay TV, Sun TV, and Zee Tamil on Tamil Dhool❤️
https://tamildhooll.co/
»
Mon, 10/09/2023 - 15:29
This content is simply exciting and creative. I have been deciding on a institutional move and this has helped me with one aspect.
»
Mon, 10/09/2023 - 13:15
Thanks for the blog loaded with so many information. Stopping by your blog helped me to get what I was looking for.
»
Mon, 10/09/2023 - 12:04
köpa körkort, ta körkort i polen, köpa körkort utomlands, köpa svenskt körkort ,ta körkort utomlands, fake körkort, köpa falskt körkort, köpa körkort rumänien, utländskt körkort, körkort online, körkort bild
körkort sverige ,svensk körkort ,köpa körkort i sverige ,falskt körkort ,köpa ett körkort, köp svenskt körkort ,kan man köpa körkort
fejk körkort köra med utländskt körkort i sverige
https://kopa-giltigtkorkort.com/
»
Mon, 10/09/2023 - 12:02
comprar carta de condução, comprar carta de condução ,comprar carta de condução verdadeira ,comprar carta de condução portugal ,comprar carta de conducao, comprar carta de condução preço, comprar carta de condução urgent ,comprar carta condução
comprar carta de condução online ,comprar carta de mota
como comprar a carta de condução.
https://cartadeconducaoonline.com/
»
Mon, 10/09/2023 - 11:04
Get insider information and read authentic gaming and betting reviews on 텐텐벳.
»
Mon, 10/09/2023 - 10:56
i can see that most mobile phones today are equipped with cameras and stuffs.. casino king
»
Mon, 10/09/2023 - 10:09
Efficiently written information. It will be profitable to anybody who utilizes it, counting me. Keep up the good work. For certain I will review out more posts day in and day out. 행당동출장마사지
»
Mon, 10/09/2023 - 10:04
In the realm of education, cartons play a vital role. Teachers and parents often use cartons for educational activities and projects. They are a cost-effective way to engage children in hands-on learning experiences קרטונים
»
Mon, 10/09/2023 - 09:27
Beaver claims that after my spouse and i moreover get similar to captivation, you could recognize your web site on this page: https://mavarypan.com/signaturecasino/
»
Mon, 10/09/2023 - 09:21
Thank you for the update, very nice site Toronto Seo
»
Mon, 10/09/2023 - 09:19
Fun football betting with live football broadcasts in HD quality, football news and slots can be played together without wasting time having to choose. Lots of slot games, easy to play, get real money, no more than three spins, you definitely get a prize here UFABET Number one in Thailand right now!
»
Mon, 10/09/2023 - 08:38
I disagree with some of the points mentioned in the article. Perhaps considering [alternative perspective] could provide a balanced view.
»
Mon, 10/09/2023 - 07:53
You should take part in a contest for starters of the highest quality blogs on the internet. I’m going to recommend this web site! Domain Information
»
Mon, 10/09/2023 - 07:08
Self-tanning products can alter the pigmentation of your skin, making it more sensitive to laser treatment. Avoid using these products in the weeks leading up to your appointment to reduce the risk of burns. visit our website
»
Mon, 10/09/2023 - 06:07
Interesting and amazing how your post is! It Is Useful and helpful for me That I like it very much, and I am looking forward to Hearing from your next. 探偵による浮気調査特設サイト
»
Mon, 10/09/2023 - 05:33
Judi bola merupakan link taruhan judi bola resmi di Indonesia. Bandar bola parlay terpercaya, dengan pasaran bola online terlengkap saat ini. https://nhtoolkit.fiu.edu/judi-bola/
»
Sun, 10/08/2023 - 19:21
PKV GAMES adalah situs pkv qq online dan pkv poker resmi dan terpercaya di Indonesia. Mainkan semua game qq pkv hanya dengan 1 id saja. pkv games
»
Sun, 10/08/2023 - 17:30
Grab the best deals on Money Heist Costumes like the Money Heist Merchandise, Hoodies, Mask, T-shirts, Jackets, from La Casa De Papel store money heist outfit
»
Sun, 10/08/2023 - 17:24
This internet site is my breathing in, very good style and perfect content material . 토토사이트 모음
»
Sun, 10/08/2023 - 09:36
Great post however , I was wanting to know if you could write a litte more on this subject? I’d be very thankful if you could elaborate a little bit further. Bless you! deep cleaning house
»
Sun, 10/08/2023 - 08:00
I am constantly surprised by the amount of information accessible on this subject. What you presented was well researched and well written to get your stand on this over to all your readers. Thanks a lot my dear. youtube downloader
»
Post new comment