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, 04/17/2024 - 06:39
The the next occasion werent too busy in search of attention 슬롯커뮤니티
»
Tue, 04/16/2024 - 23:31
Elevate your business with our innovative commercial building designs, Make your offices, school, clinic and apartment designs for long-term success.
commercial building design
commercial building design ideas
office building design
school building design
commercial small office building design
dental clinic building design
modern small office building design
»
Tue, 04/16/2024 - 21:31
kantor bola
Kantorbola adalah situs slot gacor terbaik di indonesia , kunjungi situs RTP kantor bola untuk mendapatkan informasi akurat slot dengan rtp diatas 95% . Kunjungi juga link alternatif kami di kantorbola77 dan kantorbola99 .
»
Tue, 04/16/2024 - 20:34
Bloom and Blossom: A Premier Florist Crafting Exquisite Floral Arrangements in the UAE florist in uae
»
Tue, 04/16/2024 - 14:53
Home Fix LLC is the trusted name for laundry machine repair in Dubai. With our expert technicians and prompt service, we ensure that your laundry machine is back in working order quickly and efficiently. Whether it's a simple fix or a more complex issue, you can rely on Home Fix LLC to provide reliable solutions that keep your laundry routine running smoothly.Visit us
»
Tue, 04/16/2024 - 13:39
When you use a genuine service, you will be able to provide instructions, share materials and choose the formatting style. 157.230.241.45
»
Tue, 04/16/2024 - 10:30
카지노사이트
온라인 카지노 커뮤니티 온카허브 입니다. 온카허브는 카지노 먹튀 사이트들과 안전한 카지노 사이트 정보를 공유하고 있습니다. 카지노 먹튀검증 전문팀을 자체적으로 운영함으로써 철저한 검증을 진행하고 있습니다
https://oncahub24.io/
»
Tue, 04/16/2024 - 10:25
"Celebrate your shape with our women's underwear, designed to flatter and support in all the right places."sportswear uae
»
Tue, 04/16/2024 - 10:25
"Celebrate your shape with our women's underwear, designed to flatter and support in all the right places."lingerie uae
»
Tue, 04/16/2024 - 10:25
"Celebrate your shape with our women's underwear, designed to flatter and support in all the right places."beachwear uae
»
Tue, 04/16/2024 - 09:56
This is a great article thanks for sharing this informative information. I will visit your blog regularly for some latest post. I will visit your blog regularly for Some latest post. ae888.haus
»
Tue, 04/16/2024 - 08:53
I know your expertise on this. I must say we should have an online discussion on this. Writing only comments will close the discussion straight away! And will restrict the benefits from this information. Java Burn
»
Tue, 04/16/2024 - 06:24
I would like to thank you for the efforts you have made in writing this article. I am hoping the same best work from you in the future as well. In fact your creative writing abilities has inspired me to start my own Blog Engine blog now. Really the blogging is spreading its wings rapidly. Your write up is a fine example of it 카지노사이트
»
Tue, 04/16/2024 - 06:05
I’m happy to find so many useful info here in the post, thanks for sharing. I’ll bookmark your blog and take the feeds also!cci 34 primers
»
Tue, 04/16/2024 - 03:16
Nature Target Offers Tablets, Softgels, Capsules, And Powder Forms Of Supplements.
이제 프라그마틱 슬롯 도 소개합니다.
I am now not certain where you are getting your information, however good topic.
»
Mon, 04/15/2024 - 21:35
kantorbola
Kantorbola adalah situs slot gacor terbaik di indonesia , kunjungi situs RTP kantor bola untuk mendapatkan informasi akurat slot dengan rtp diatas 95% . Kunjungi juga link alternatif kami di kantorbola77 dan kantorbola99 .
»
Mon, 04/15/2024 - 20:11
The professional landscape is ever-evolving, and staying updated is not just a luxury but a necessity. Bizop! ensures that its users are always in the loop with the latest trends, news, and opportunities. To ensure you don't miss out on these pivotal updates, make it a habit to visit our website regularly.
»
Mon, 04/15/2024 - 19:55
Its sizeable, having said that its vital to help you hair to your web-site it again weblink: computer recycling
»
Mon, 04/15/2024 - 18:40
Im obliged for the article.Thanks Again. Fantastic. florist in uae
»
Mon, 04/15/2024 - 14:47
wow this saintly however ,I love your enter plus nice pics might be part personss negative love being defrent mind total poeple , Web 2.0 Backlinks
»
Mon, 04/15/2024 - 13:53
No doubt this is an excellent post I got a lot of knowledge after reading good luck. Theme of blog is excellent there is almost everything to read, Brilliant post. Signature electronique
»
Mon, 04/15/2024 - 13:46
Excellent post. I was always checking this blog, and I’m impressed! Extremely useful info specially the last part, I care for such information a lot. I was exploring this particular info for a long time. Thanks to this blog my exploration has ended. 146.190.103.93
»
Mon, 04/15/2024 - 13:34
For a bit of it happens to be critical, because of this look into the website page: PBNs backlinks
»
Mon, 04/15/2024 - 12:01
Awesome and interesting article. Great things you've always shared with us. Thanks. Just continue composing this kind of post. sourabh chandrakar wife
»
Mon, 04/15/2024 - 11:36
Nice blog and absolutely outstanding. You can do something much better but i still say this perfect.Keep trying for the best. superman68
»
Mon, 04/15/2024 - 09:57
I wanted to thank you for this excellent read!! I definitely loved every little bit of it. I have you bookmarked your site to check out the new stuff you post. ae888.vision
»
Mon, 04/15/2024 - 09:43
I am lucky that I determined this blog, exactly the proper facts that I come to be seeking out!
»
Mon, 04/15/2024 - 07:51
That is really attention-grabbing, You’re a very professional blogger.
I’ve joined your feed and sit up for in quest of more of your wonderful post.
Additionally, I have shared your site in my social networks
شيخ روحاني
جلب الحبيب
»
Mon, 04/15/2024 - 07:38
i read a lot of stuff and i found that the way of writing to clearifing that exactly want to say was very good so i am impressed and ilike to come again in future.. 토토
»
Mon, 04/15/2024 - 07:02
"I just couldn't leave your website before telling you that I truly enjoyed the top quality info you present to your visitors? Will be back again frequently to check up on new posts.
" 카지노사이트
»
Mon, 04/15/2024 - 07:00
이 목표에 도달했을 때의 사실을 생각해보십시오. 토토사이트
»
Mon, 04/15/2024 - 06:29
카지노커뮤니티
온라인 카지노 커뮤니티 온카허브 입니다. 온카허브는 카지노 먹튀 사이트들과 안전한 카지노 사이트 정보를 공유하고 있습니다. 카지노 먹튀검증 전문팀을 자체적으로 운영함으로써 철저한 검증을 진행하고 있습니다
https://oncahub24.io/
»
Mon, 04/15/2024 - 06:14
This is a wonderful article, Given so much info in it, These type of articles keeps the users interest in the website, and keep on sharing more ... good luck. 토토사이트
»
Mon, 04/15/2024 - 05:48
This blog is really great. The information here will surely be of some help to me. Thanks!. superman 68
»
Mon, 04/15/2024 - 04:50
I definitely enjoying every little bit of it. It is a great website and nice share. I want to thank you. Good job! You guys do a great blog, and have some great contents. Keep up the good work. 146.190.103.93
»
Sun, 04/14/2024 - 23:33
Find the largest selection of guns for sale. Shop shooting accessories including ammo, mags, holsters, and more
https://guntycoons.com/product/glock-switch
»
Sun, 04/14/2024 - 18:43
kantorbola
Kantorbola adalah situs slot gacor terbaik di indonesia , kunjungi situs RTP kantor bola untuk mendapatkan informasi akurat slot dengan rtp diatas 95% . Kunjungi juga link alternatif kami di kantorbola77 dan kantorbola99 .
»
Sun, 04/14/2024 - 18:25
Very nice article, I enjoyed reading your post, very nice share, I want to twit this to my followers. Thanks!.
探偵 北海道
»
Sun, 04/14/2024 - 18:02
Rent cars in agadir
»
Sun, 04/14/2024 - 15:02
I discovered your website site online and check many of your early posts. Keep on the top notch operate. I just now additional your Feed to my MSN News Reader. Looking for forward to reading much more from you finding out later on!… 카지노사이트
»
Sun, 04/14/2024 - 13:25
While the martingale strategy can be effective in theory, it's also highly risky, as it requires a large bankroll to withstand a series of losses, and there's no guarantee of success. sports betting systems
»
Sun, 04/14/2024 - 13:23
Nice to be visiting your blog again, it has been months for me. Well this article that i’ve been waited for so long. I need this article to complete my assignment in the college, and it has same topic with your article. Thanks, great share. ae888.vision
»
Sun, 04/14/2024 - 12:13
I randomly browse blogs on the internet, and that i discover your article to be very informational. I have already bookmark it on my browser, in order that I can read your blog publish once more later. Additionally, i am wondering whether or not or not your weblog is open for link exchange, as i actually need to trade links with you. I don’t normally do that, but I hope that we are going to have a mutual hyperlink exchange. Let me know and have an ideal day! mawar toto
»
Sun, 04/14/2024 - 11:47
Admiring the time and effort you put into your blog and detailed information you offer! 토토사이트
»
Sun, 04/14/2024 - 11:22
Thanks for such a great post I am totally impressed! Keep stuff like this coming 에볼루션카지노
»
Sun, 04/14/2024 - 10:42
I felt very happy while reading this site. This was really very informative site for me. I really liked it. This was really a cordial post. Thanks a lot!. 바카라사이트
»
Sun, 04/14/2024 - 10:41
"Really i appreciate the effort you made to share the knowledge. The topic here i found was really effective to the topic which i was researching for a long time
" 바카라사이트
»
Sun, 04/14/2024 - 10:31
This particular papers fabulous, and My spouse and i enjoy each of the perform that you have placed into this. I’m sure that you will be making a really useful place. I has been additionally pleased. Good perform! situs gacor thailand
»
Sun, 04/14/2024 - 09:40
"Thanks for such a great post and the review, I am totally impressed! Keep stuff like this coming
" industrial outdoor storage listings
»
Sun, 04/14/2024 - 09:32
An amazing content, will love to come back and read more. Keep up
https://cumpara-permisdeconducere.com/ " rel="dofollow"> permiso
https://xn--fhrerschein-kaufen-m6b.com/ " rel="dofollow"> kaufen 1
https://xn--riktigt-krkort-3pb.com/ " rel="dofollow"> kopa
https://kupic-prawojazdy.com/ " rel="dofollow">prawo
https://rijbewijs-kopenonline.com/ " rel="dofollow"> kopen
https://permisdeconduirereele.com/ " rel="dofollow"> permis 2
https://fuhrerscheinskaufen.com/ " rel="dofollow"> kaufen 3
https://kupic-prawojazdyonline.com/ " rel="dofollow"> prawo 3
https://kuplegalneprawojazdy.com " rel="dofollow"> prawo 4
https://kuplegalneprawojazdy.com/legalne-prawo-jazdy-do-kupienia/ " rel="dofollow"> prawo 11
https://kupic-prawojazdy.com/legalne-prawo-jazdy-do-kupienia/ " rel="dofollow"> prawo 12
https://kupic-prawojazdyonline.com/legalne-prawo-jazdy-do-kupienia-2/ " rel="dofollow"> prawo 13
Even more better
https://cumpara-permisdeconducere.com/
https://xn--fhrerschein-kaufen-m6b.com/
https://xn--riktigt-krkort-3pb.com/
https://kupic-prawojazdy.com/
https://rijbewijs-kopenonline.com/
https://permisdeconduirereele.com/
https://fuhrerscheinskaufen.com/
https://kupic-prawojazdyonline.com/
https://kuplegalneprawojazdy.com/
https://kupic-prawojazdy.com/legalne-prawo-jazdy-do-kupienia/
https://kuplegalneprawojazdy.com/legalne-prawo-jazdy-do-kupienia/
https://kupic-prawojazdyonline.com/legalne-prawo-jazdy-do-kupienia-2/
»
Post new comment