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, 06/14/2023 - 12:00
I like your post. It is good to see you verbalize from the heart and clarity on this important subject can be easily observed... INDIAN VISA FOR VANUATU CITIZENS
»
Wed, 06/14/2023 - 11:58
Wow, excellent post. I'd like to draft like this too - taking time and real hard work to make a great article. This post has encouraged me to write some posts that I am going to write soon. mgo303
»
Wed, 06/14/2023 - 08:54
Right humans speeches must seat as well as memorialize around the groom and bride. Beginer sound system around rowdy locations should always not forget currently the glowing leadership of a speaking, which is one’s boat. best man speeches brother PRODENTIM REVIEWS
»
Wed, 06/14/2023 - 02:36
fusion chocolate bar
fusion shroom bar
fusion mushroom bar
fusion bar
fusion fusion mushroom bars
fusion magic mushroom chocolate bar
fusion premium magic mushroom chocolate bar
fusion chocolate mushroom bar
fusion chocolate bar mushroom
fusion premium mushroom chocolate bar
fusion magic mushroom bar
fusion mushroom chocolate bar
fusion mushroom bar
fusion mushroom bar review
fusion magic mushroom candy bar
buy fusion mushroom bar
fusion chocolate mushroom bar for sale
»
Wed, 06/14/2023 - 02:16
Wow, What a Excellent post. I really found this to much informatics. It is what i was searching for.I would like to suggest you that please keep sharing such type of info.Thanks 토토사이트
»
Wed, 06/14/2023 - 01:02
You’ve got some interesting points in this article. I would have never considered any of these if I didn’t come across this. Thanks!. ak88bets.com
»
Tue, 06/13/2023 - 17:07
This is my first time visit to your blog and I am very interested in the articles that you serve. Provide enough knowledge for me. Thank you for sharing useful and don't forget, keep sharing useful info: logistics
»
Tue, 06/13/2023 - 16:09
comprarelapatentediguidaregistrata
acheterunpermisdesconduire
comprarlicenciadeconducironline
comprarlicenciadesconducir
kupiti vozačku dozvolu
geregistreerdrijbewijs
legitimefahrerlizenz
comprarelapatentediguidaregistrataonline
»
Tue, 06/13/2023 - 15:57
Ones weblogs additionally just about every more level is amusing additionally serviceable The item appoints everyone hit seek retreat encore. I most certainly will promptly grasp ones feed to stay knowledgeable associated with almost any messages. Watch Fox News Live
»
Tue, 06/13/2023 - 15:40
">
"Hmm!! This blog is really cool, I’m so lucky that I have reached here and got this awesome information.
" 먹튀검증
»
Tue, 06/13/2023 - 10:35
pleasure reading your post.Its full of information I am looking for and I
love to post a comment that "The content of your post is awesome"
Great work.
»
Tue, 06/13/2023 - 07:05
This blog is the best ever! I truly thank you for your content.
UFABET
UFA365
»
Tue, 06/13/2023 - 06:49
Joining all of these makes everything efficient both for the marketers and of course the consumers. No more need for excessive paid advertising. Marketers will only respond to the clients that really need their services or products.
»
Tue, 06/13/2023 - 06:34
I invite you to the page where you can read with interesting information on similar topics
»
Tue, 06/13/2023 - 06:16
Phenomenal blog. I delighted in researching your articles. This is to an extraordinary degree an amazing examined for me. I have bookmarked it and I am suspecting inspecting new articles. Continue doing shocking
»
Tue, 06/13/2023 - 03:50
Hello I am so delighted I located your blog, I really located you by mistake, while I was watching on google for something else, Anyways I am here now and could just like to say thank for a tremendous post and a all round entertaining website. Please do keep up the great work. vay tien online
»
Tue, 06/13/2023 - 01:16
Hair Loss from alopecia and physical stress on the body can cause additional stress. In Africa, Chebe has been known to facilitate in assisting in hair growth and length retention. Chebe Products were formulated with a blend of other herbs to assist in the regrowth of hair. Creating all-natural and effective hair care growth products. We aim to showcase the raw power of natural and organic ingredients. Known to nourish, hydrate and most importantly strengthen the hair, so as a result there is less hair breakage thereby length retention and protection of new growth.
coco black curling custard
»
Mon, 06/12/2023 - 19:22
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!. INDIAN VISA FOR TONGAN CITIZENS
»
Mon, 06/12/2023 - 14:21
We are truly thankful for your blog entry. It's really fun to read. I enjoyed it a lot. Buy Afghani Hawaiian Strain Thanks for sharing this wonderful information.
»
Mon, 06/12/2023 - 14:01
I have obtained the equivalent same interest it's the web page realize the whole thing completely along with well, i will truly understand what you believe which. slot deposit dana
»
Mon, 06/12/2023 - 13:41
Joining all of these makes everything efficient both for the marketers and of course the consumers. No more need for excessive paid advertising. Marketers will only respond to the clients that really need their services or products.
»
Mon, 06/12/2023 - 13:11
usually, the best sounding ringtones are coming from paid ringtone donwload site
»
Mon, 06/12/2023 - 12:49
I've been looking for info on this topic for a while. I'm happy this one is so great. Keep up the excellent work
»
Mon, 06/12/2023 - 21:17
https://www.legitimefahrerlizenzonline.com/
https://www.acheterunpermisdesconduire.com/
https://xn--kupitivozakudozvolu-4kc.com/
https://geregistreerdrijbewijs-b.com/
https://comprarlicenciadeconducironline.com/
https://comprarlicenciadesconducir.com/
https://comprarelapatentediguidaregistrata.com/
https://www.comprarelapatentediguidaregistrataonline.com/
»
Mon, 06/12/2023 - 12:29
"This can be in addition a great article i genuinely liked looking at. It's not at all every day i contain the probability to view a thing.
"
»
Mon, 06/12/2023 - 12:29
"This can be in addition a great article i genuinely liked looking at. It's not at all every day i contain the probability to view a thing.
"
»
Mon, 06/12/2023 - 12:09
What your saying is fully true. I know that everybody have to say the exact same matter, but I just consider that you put it in a way that everyone can understand. I also love the photographs you set in the following
»
Mon, 06/12/2023 - 11:50
These things are very important, good think so - I think so too
»
Mon, 06/12/2023 - 11:31
Joining all of these makes everything efficient both for the marketers and of course the consumers. No more need for excessive paid advertising. Marketers will only respond to the clients that really need their services or products.
»
Mon, 06/12/2023 - 11:10
Very rapidly this site will be famous among all blogging and site-building users, due to it's good articles
»
Mon, 06/12/2023 - 10:44
I'm amazed, I must say. Seldom do I come across a blog that's both educative and engaging, and without a doubt, you've hit the nail on the head. The problem is something which too few people are speaking intelligently abou
»
Mon, 06/12/2023 - 10:41
Very informative post ! There is a lot of information here that can help any business get started with a successful social networking campaign ! ver novela
»
Mon, 06/12/2023 - 10:22
Challenges are opportunities for growth and learning. alcohol addiction treatment
»
Mon, 06/12/2023 - 10:03
You bear through a awesome vacancy. I sanity definitely quarry it moreover personally suggest to my buddys. I am self-possessed they determination be benefited from this scene.
»
Mon, 06/12/2023 - 09:13
this is really good website, coolest I have ever visit thank you so much, i will follow and stay tuned much appriciated
»
Mon, 06/12/2023 - 08:31
I ought to declare scarcely that its astonishing! The blog is instructive additionally dependably manufacture astonishing entities
»
Mon, 06/12/2023 - 07:57
UHAMKA memberikan kemudahan bagi calon mahasiswa baru/pindahan/konversi untuk mendapatkan informasi tentang UHAMKA atau melakukan registrasi online dimana saja dan kapan saja Kuliah Online
»
Mon, 06/12/2023 - 07:36
It’s super webpage, I was looking for something like this
»
Mon, 06/12/2023 - 07:21
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,
https://koopeenrijbewijscbr.com/
https://comprarepatente.com
https://patentediguidaespressa.com
https://compresuacarteirademotorista.com
https://koopeengeldigrijbewijs.com
»
Mon, 06/12/2023 - 06:13
Once i recommend to be able to the girl strictly first-rate together with trustworthy information, hence start to see the merchandise: IKARIA LEAN BELLY JUICE REVIEWS
»
Mon, 06/12/2023 - 06:08
How lucky I am to be in your interesting blog today, how good I read your posts, unique perspectives, rich content, you really are a very talented person. By: 메이저사이트
»
Sun, 06/11/2023 - 21:28
PTLIGA SITUS TARUHAN BOLA TERPERCAYA,DAFTAR SEKARANG JUGA DAN DI PTLIGA TERDAPAT BANYAK PERMAINAN TIDAK HANYA PASANG BOLA SAJA..
»
Sun, 06/11/2023 - 18:26
Great positioned up, adorable weblog with first rate informational content material fabric. This is a clearly thrilling and informative placed up. Biopure Keto Gummies
»
Sun, 06/11/2023 - 09:16
Your blog post was like a breath of fresh air! I loved how you provided practical tips and Design Services
insights that I can actually apply to my business. It's clear that you put a lot of thought and effort into creating this content, and I appreciate it. Keep up the great work!
»
Sun, 06/11/2023 - 03:10
This is my first time visit here. From the tons of comments on your articles,I guess I am not only one having all the enjoyment right here! Horoscope de demain
»
Sat, 06/10/2023 - 22:21
Achetez un permis de conduire réel et enregistré sur notre site Web sans passer d'examens ni passer le test pratique. tout ce dont nous avons besoin, ce sont vos données et elles seront enregistrées dans le système dans les huit prochains jours. Le permis de conduire doit subir la même procédure d'enregistrement que ceux délivrés dans les auto-écoles,
https://permisdeconduirefacile.com/
»
Sat, 06/10/2023 - 22:20
compre uma carteira de motorista registrada na imt sem fazer os exames ou o teste prático. aqui podemos levar no máximo oito dias para fornecer a você uma carteira de motorista legalmente registrada
https://comprarcartaonline.com/
»
Sat, 06/10/2023 - 22:19
rijbewijs kopen in nederland of belgie en binnen maximaal acht dagen bij je laten bezorgen
https://echtrijbewijskopen.com/
»
Sat, 06/10/2023 - 22:19
Achetez un permis de conduire réel et enregistré sur notre site Web sans passer d'examens ni passer le test pratique. tout ce dont nous avons besoin, ce sont vos données et elles seront enregistrées dans le système dans les huit prochains jours. Le permis de conduire doit subir la même procédure d'enregistrement que ceux délivrés dans les auto-écoles,
https://acheterpermis-conduire.com/
»
Sat, 06/10/2023 - 22:18
carteira de motorista real e registrada em nosso website sem fazer nenhum exame ou fazer o teste prático. tudo o que precisamos são seus dados e eles seriam registrados no sistema nos próximos oito dias. A carteira de habilitação deve passar pelo mesmo procedimento de registro que as emitidas nas autoescolas,
https://imt-cartadeconducao.com/
»
Post new comment