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.
Sun, 04/21/2024 - 01:16
Intersting post and site. Good that Google listed so i was able to get here. This site will go no in my bookmarks from now. 物理補習
»
Sat, 04/20/2024 - 21:20
Los códigos promocionales 1xbet son una buena manera de disfrutar de todas las posibilidades de los juegos de casino y apuestas deportivas, pues le ofrecen a los usuarios acceso directo a la acción sin que tengan que poner en riesgo todo su dinero.
»
Sat, 04/20/2024 - 17:50
Listed here you can actually learn it's essential, they supplies the online market place website page backlink with the a big bonus ınternet site: Hotel in Dharamshala
»
Sat, 04/20/2024 - 16:26
I read that Post and got it fine and informative. weight gainer supplements in Pakistan
»
Sat, 04/20/2024 - 15:10
It is a fantastic post – immense clear and easy to understand. I am also holding out for the sharks too that made me laugh. daman games
»
Sat, 04/20/2024 - 14:40
현대의 토토사이트는 사용자들에게 다양한 혜택을 제공하고 있습니다. 이는 무료 자금, AI 게임 예측, 사기 검증, 안전한 놀이터 커뮤니티 등을 포함합니다. Toto Picker는 Toto 사이트 정보를 공유하고 사용자들에게 안전한 놀이터를 확보하기 위해 시작된 커뮤니티입니다. 요즘 같은 사기 업체가 만연한 시대에는, 사기 검증이 절대적으로 필요합니다. 저희는 수백만 개의 정보를 수집하고 딥 러닝 AI 게임 예측을 통해 미래의 게임 결과를 예측합니다. 우리는 AI 예측 결과에 기반하여 베팅을 하고, 결과의 정확성을 투명하게 공개합니다. 이는 사기 사이트 검증, 인공 지능 매치 예측, 무료 자금 커뮤니티 등을 포함하는 토토사이트입니다.
»
Sat, 04/20/2024 - 14:31
I am jovial you take pride in what you write. It makes you stand way out from many other writers that can not push high-quality content like you. Illuminati join
»
Sat, 04/20/2024 - 13:16
A great content material as well as great layout. Your website deserves all of the positive feedback it’s been getting. I will be back soon for further quality contents. 209.97.173.107
»
Sat, 04/20/2024 - 12:34
I think this is an informative post and it is very beneficial and knowledgeable. Therefore, I would like to thank you for the endeavors that you have made in writing this article. All the content is absolutely well-researched. Thanks... pronail reviews
»
Sat, 04/20/2024 - 12:33
https://kjopelovligforerkort.com/
https://koblovligtkorekort.com/
https://koplagligtkorkort.com/
https://www.vozackadozvola.com/
https://koupitlegalniridicskyprukaz.com/
»
Sat, 04/20/2024 - 12:28
I'm glad I found this web site, I couldn't find any knowledge on this matter prior to.Also operate a site and if you are ever interested in doing some visitor writing for me if possible feel free to let me know, im always look for people to check out my web site. SaaS Law Firm
»
Sat, 04/20/2024 - 10:48
I really loved reading your blog. It was very well authored and easy to understand. Unlike other blogs I have read which are really not that good.Thanks alot! ORIENTAL BLUE TONIC Review
»
Sat, 04/20/2024 - 10:30
When i got onto your blog site though putting attention simply just a little bit submits. Pleasant strategy for future, I will be bookmarking at a time get ones finish springs up... Peach and Lily Glass Skin Mist
»
Sat, 04/20/2024 - 08:52
A store specialized in selling professional controllers and accessories for PlayStation devices. سكف رفلكس
»
Sat, 04/20/2024 - 07:45
Today, I was just browsing along and came upon your blog. Just wanted to say good blog and this article helped me a lot, due to which I have found exactly I was looking. kerassentials
»
Sat, 04/20/2024 - 06:38
I would like to say that this blog really convinced me to do it! Thanks, very good post. Tent Rentals
»
Sat, 04/20/2024 - 05:17
Your blog provided us with valuable information to work with. Each & every tips of your post are awesome. Thanks a lot for sharing. Keep blogging.. ae888.black
»
Fri, 04/19/2024 - 16:43
Positive site, where did u come up with the information on this posting?I have read a few of the articles on your website now, and I really like your style. Thanks a million and please keep up the effective work. 209.97.173.107
»
Fri, 04/19/2024 - 14:51
Nice blog and absolutely outstanding. You can do something much better but i still say this perfect.Keep trying for the best. slot88
»
Fri, 04/19/2024 - 14:19
For the finest tissue boxes in Pakistan, look no further than Home Entics. Our tissue box collection combines functionality with style, offering a range of designs to suit any taste or decor theme. From luxurious leather tissue boxes to intricately crafted wooden ones, we have the perfect tissue box to complement your home. With Home Entics, you can elevate the look of your space while keeping your tissues neatly organized and easily accessible.
»
Fri, 04/19/2024 - 06:30
I read a article under the same title some time ago, but this articles quality is much, much better. How you do this.. rosa amazonica é confiavel
»
Fri, 04/19/2024 - 03:53
Wow, this is fascinating reading. I am glad I found this and got to read it. Great job on this content. I liked it a lot. Thanks for the great and unique info. slot online
»
Thu, 04/18/2024 - 20:37
Thank you so much for sharing your insights. Your perspective was enlightening and added significant value to our discussion. Truly appreciated!
vozačka dozvola
Führerschein
Führerschein
rijbewijs
carteira de motorista
carteira de motorista
carteira de motorista
»
Thu, 04/18/2024 - 19:42
Acquire the key benefits of basically leading-edge toxins -- you'll observe your ex-girlfriend ideal for: 123movies website
»
Thu, 04/18/2024 - 17:37
"It's very effortless to find out anyy topic onn net as compared to books, ass I found this post
at this web page." situs slot
»
Thu, 04/18/2024 - 17:02
i really like this article please keep it up. 링크사이트
»
Thu, 04/18/2024 - 16:59
A debt of gratitude is in order for the decent blog. It was exceptionally helpful for me. I m glad I discovered this blog. Much obliged to you for imparting to us,I too dependably gain some new useful knowledge from your post 먹튀검증
»
Thu, 04/18/2024 - 15:59
Nice to read your article! I am looking forward to sharing your adventures and experiences. SLIM GOTA FUNCIONA
»
Thu, 04/18/2024 - 14:14
Glad to chat your blog, I seem to be forward to more reliable articles and I think we all wish to thank so many good articles, blog to share with us 스포츠무료중계
»
Thu, 04/18/2024 - 13:35
We are the right place for you if you are looking for a reliable Domestic helper to reduce your never-ending house chores and save a lot of time. It is important to choose your domestic helper carefully.liv pure
»
Thu, 04/18/2024 - 13:08
I offer you competence, courtesy and passion. I have been supporting companies like yours for years to find together effective solutions that will make your business grow. eg, ngo consultancy
»
Thu, 04/18/2024 - 12:55
This specific is generally clearly basic and in addition exceptional truth alongside without a doubt reasonable and besides in fact valuable My business is 토토커뮤니티
»
Thu, 04/18/2024 - 12:33
New web site is looking good. Thanks for the great effort 스포츠중계
»
Thu, 04/18/2024 - 12:02
7No 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. Yoga Postnatal à Dubai
»
Thu, 04/18/2024 - 11:40
Amazing experience after visiting this site which is really full of information and someone have information for 메이저사이트
»
Thu, 04/18/2024 - 11:26
This is a great inspiring article.I am pretty much pleased with your good work.You put really very helpful information. Keep it up. Keep blogging. Looking to reading your next post. ae888.black
»
Thu, 04/18/2024 - 11:08
i am for the first time here. I found this board and I in finding It truly helpful & it helped me out a lot. I hope to present something back and help others such as you helped me 토토사이트추천
»
Thu, 04/18/2024 - 10:57
I read a article under the same title some time ago, but this articles quality is much, much better. How you do this.. java burn
»
Thu, 04/18/2024 - 10:28
It is my first visit to your blog, and I am very impressed with the articles that you serve. Give adequate knowledge for me. Thank you for sharing useful material. I will be back for the more great post. lift detox black funciona
»
Thu, 04/18/2024 - 10:11
Thanks for the blog loaded with so many information. Stopping by your blog helped me to get what I was looking for. 9 pots of gold
»
Thu, 04/18/2024 - 09:47
KrogerFeedback may include questions related to COVID-19 safety measures and protocols.krogarfeedbackx100.com
»
Thu, 04/18/2024 - 08:58
Great knowledge, do anyone mind merely reference back to it 카지노사이트
»
Thu, 04/18/2024 - 08:54
New web site is looking good. Thanks for the great effort 바카라사이트
»
Thu, 04/18/2024 - 07:33
I’ve been surfing online more than 5 hours today, yet I never found any interesting article like yours without a doubt. It’s pretty worth enough for me. Thanks... quietum plus review
»
Thu, 04/18/2024 - 07:17
Online slot gambling is an entertainment slot machine game that uses real money online to bet with online bookies on online sites. slot gacor
»
Thu, 04/18/2024 - 02:06
https://sellierammo.com/product/sellier-bellot-380-acp-auto-380-auto-9mm...
https://sellierammo.com/product/sellier-bellot-12-gauge-2-3-4-ammo-4-buc...
https://sellierammo.com/product-category/shotguns/
https://sellierammo.com/product/sellier-bellot-380-acp-auto-380-auto-9mm...
https://sellierammo.com/product/sellier-bellot-12-gauge-2-3-4-ammo-4-buc...
https://sellierammo.com/product/sellier-bellot-9mm-luger-ammo-115-grain-...
https://sellierammo.com/product/sellier-bellot-12-gauge-2-3-4-ammo-4-buc...
https://sigsauercore.com/product/1911-stainless-super-target-full-size/
https://sigsauercore.com/product/sp2022-2340-2009-15rd-9mm-magazine/
https://sigsauercore.com/product/sig-mcx-virtus-sbr/
https://sigsauercore.com/product/p365-micro-compact-15rd-9mm-magazine-co...
https://sigsauercore.com/
https://sigsauercore.com/product-category/magazines/
https://sigsauercore.com/product/p229-nitron-compact/
https://sigsauercore.com/product/1911-compact-7rd-45acp-magazine/
https://sigsauercore.com/product/p220-legion-carry-sao/
https://sigsauercore.com/product/p320-m17/
https://sigsauercore.com/product-category/magazines/page/5/
https://sigsauercore.com/product/p229-1-10rd-9mm-magazine/
https://sigsauercore.com/product/1911-stand/
https://sigsauercore.com/product/1911-fastback-nightmare-carry/
https://sigsauercore.com/product/p250-p320-compact-9rd-45acp-magazine/
https://sigsauercore.com/product/p320-rxp-full-size/
https://sigsauercore.com/product/m17-airgun-magazine/
https://sigsauercore.com/product/sigm400-tread/
https://sigsauercore.com/product-category/pistols/
https://sigsauercore.com/product/p226-17rd-9mm-magazine-with-padded-floo...
https://sigsauercore.com/product/1911-emperor-scorpion-full-size/
https://sigsauercore.com/product/p229-12rd-40-auto-357sig-magazine/
https://sigsauercore.com/contact/
https://sigsauercore.com/product/p225-a1-8rd-9mm-magazine/
https://sigsauercore.com/product/p320-xfull/
https://sigsauercore.com/product/sigm400-tread-pistol/
https://sigsauercore.com/product-category/rifles/
https://sigsauercore.com/product/p250-p320-compact-10rd-9mm-magazine/
https://sigsauercore.com/product/1911-spartan-ii-full-size/
https://sigsauercore.com/product/sig-mcx-virtus-pistol/
https://sigsauercore.com/product/p320-x-five-full-size-21rd-9mm-magazine...
https://sigsauercore.com/product/p320-rxp-xfull-size/
https://sigsauercore.com/product/p238-rainbow-micro-compact/
https://sigsauercore.com/product/p938-7rd-9mm-extended-magazine/
https://sigsauercore.com/product/p226-nitron-full-size/
https://sigsauercore.com/product/p938-spartan-ii-micro-compact/
https://sigsauercore.com/product/sig-mpx-pcc/
https://sigsauercore.com/product/p250-p320-full-10rd-9mm-magazine/
https://sigsauercore.com/product/sigm400-tread-coil/
https://sigsauercore.com/product/1911-stx-full-size/
https://sigsauercore.com/product/p938-22-target-micro-compact/
https://sigsauercore.com/product/p226-12rd-357sig-40-auto-magazine/
https://sigsauercore.com/product/sig-mcx-virtus-patrol/
https://sigsauercore.com/product/p226-emperor-scorpion/
https://sigsauercore.com/product/p238-7rd-380acp-extended-magazine/
https://sigsauercore.com/product/p320-rxp-compact/
https://sigsauercore.com/product/p938-we-the-people/
https://sigsauercore.com/product/sig-mcx-rattler-pcb/
https://sigsauercore.com/product/716i-tread/
https://sigsauercore.com/product/p229-legion-rx-compact/
https://sigsauercore.com/product/p226-legion-rx-full-size/
https://sigsauercore.com/product/1911-fastback-emperor-scorpion-carry/
https://sigsauercore.com/product/1911-tacops-full-size/
https://sigsauercore.com/product/sig-mpx-copperhead/
https://sigsauercore.com/product/p238-desert-micro-compact/
https://sigsauercore.com/product/p365-sas/
https://sigsauercore.com/product/p320-rxp-xcompact/
»
Wed, 04/17/2024 - 18:33
Excellent blog! Thank you for the efforts you have put into writing this post. Acupuncture Cost Malaysia I hope the same best work from you in the future also. I thank you for this website. Thanks for sharing. Good website!
»
Wed, 04/17/2024 - 17:44
The benefits of mathematics tutoring extend far beyond improved grades. By providing students with the skills and confidence needed to tackle mathematical challenges independently, tutoring empowers them to become lifelong learners and critical thinkers. 數學補習老師
»
Wed, 04/17/2024 - 17:00
Dive into the world of Wordle and see if you have what it takes to guess the hidden word. Nyt wordle
»
Wed, 04/17/2024 - 16:59
Thanks so much for the blog article.Really thank you!
»
Post new comment