Month: October 2017

When you buy a condominium, what are you actually getting? In a typical condominium arrangements, each tenant owns his/her individual unit outright and owns the common areas as a tenant in common together with the other tenants. Since you have ownership rather than mere leasehold rights, you can sell your unit and build up equity in it.

A tenant in common is a fractional owner of the common property, meaning, for example, that if the property is sold he is entitled to a certain percentage of the proceeds. A tenant in common can also generally sell his interest in the property without the permission of the other tenants in common (some restrictions may apply). Finally, a tenancy in common is undivided – all tenants in common have an equal right to possess the entire property. This means that if I am a tenant in common with a 1% fractional interest in the lobby, I cannot tape off an area equal to 1% of the total area of the lobby and claim it as my exclusive property, and neither can anyone else. But if the building is sold, I am entitled to 1% of the net proceeds of the sale of the lobby.

What do you own outright when you buy a condominium? Usually, all you own outright is whatever is inside the four walls. You do not own the plumbing (except as a tenant in common).

Furthermore, in many condominium arrangements, the common areas are owned not by the unit owners as tenants in common, but by a homeowners’ association to which the condominium owners belong. This association is usually a corporation in which the unit owners are shareholder (giving the homeowners’ association an independent legal identity), and the unit areas lease the right to use the common areas.

If the condominium has a parking area, condominium owners might have what is known as an easement, which is a type of property right allowing certain uses such as walking and driving through it, and parking your car there. In an easement, someone else owns the property and you just have the right to use it.

DISCLAIMER: The foregoing is intended for reference only and not as legal advice.

We all know from my first posts that one of many benefits of owning and living in a condominium may be the cozy dwelling along with the fact that every unit proprietor does not should do home performs which might be often seasoned in a single-family property device residing such as restoring the roof, cleaning the garden along with the aspect stroll with the residence, cleaning the pool, and plenty of others. So, who does this house performs if not you?

Living in a condominium differs from that residing in an apartment. Residing during this sort of true estate property, you obtain to benefit from the typical areas it offers. Examples are the swimming pool, health club, gathers space and also a tennis court. In contrast to should you get other true estate house this sort of as apartment which can be a single-family unit, you’ll discover that it really is costly to have your own personal locations just like the formerly talked about.

To maintain the cozy residing, every single unit operator pays monthly. This monthly charge can be a payment for your routine maintenance and utility expenses that happen to be decrease than people expenses compensated for other real estate homes.

As said during the prior paragraph, a unit proprietor pays a monthly fee which money is utilized to the servicing with the typical locations, and to pay out every person inside the constructing which was hired for upkeep and protection work opportunities. They had been employed with the administration from the creating, or perhaps the head from the affiliation of condominium proprietors. Generally, this association takes care with the total within upkeep in the constructing and its floor. Condominium properties have distinct affiliation terms so it is essential for anyone who’s considering buying a condominium to get a clear concept of precisely what will or will not be coated ahead of producing a purchase.

Mostly people who’re dwelling in condominiums are classified as the kinds who don’t like common servicing associated with home ownership. It really is possibly because of their active way of life they don’t possess the time for you to do home upkeep performs. The good news is, they got other individuals to do operates for them, additionally, as being a unit member, you might be not the only real a single to pay for to the utility and servicing charges, it really is every single unit owner’s responsibility to pay for for your servicing from the typical places and almost everything in the building that worries each one of them like the security personnel who supplies defense and security from any achievable damage that could originate from the beyond the creating.

Cebu City is also known as the heart of Philippines. The city is home to a whole host of condominiums that vary in size as well as according to the range of facilities available in them. In fact, it is safe to say that finding a top notch private condominium for rent in Cebu City is not at all a difficult task. You can either head to the location yourself or use the web to find a decked-up condominium for rent in Cebu. Whatever way you may choose to find a comfortable condo, you must ensure that certain points are taken care of in an end-to-end manner.
For one, you should take care of the location aspect. Location is probably the most crucial point when deciding to stay in a particular condominium for rent in Cebu City. Ultimately, the location will make your stay in the city absolutely delightful. For example, you wouldnt want to get hassled by all the commotion of a market so it is best to avoid apartments near markets. That is why you should clearly state your needs to the real estate provider in advance. Another factor that you should take care of is whether the condominium is old or new. Based on your requirements as well as the kind of facilities available, you can either stay in an old or a new condo. Be it new or old, a condominium for rent in Cebu usually consists of state of the art amenities.
Then, the facility available in the condo is another aspect that should help you buy the best condo. Whether it is a swimming pool, gyms, shops, parks, or any other key facility, you can discuss the fee etc. with the real estate provider. All of the aforementioned points should be discussed well in advance before opting for a specific condominium for rent in Cebu City. Moreover, you must also look at the security and safety aspect before deciding to opt for a specific condo. Nowadays, there are condos that are equipped with the latest security systems. Not just this, the condos are manned by well-trained security guards that take care of you 24 hours a day. So if you are looking to select a condominium for rent in Cebu, it is best to keep in mind all the points just stated. So what are you waiting for? Get in touch with a reliable real estate provider or use the internet today.

Condominiums had become one of the most popular and in-demand types of housings in the Philippines today. Part of the reason why is because these types of housings can offer the kinds of benefits that many more Filipinos are looking for today, either the accessibility to business and commercial districts, or an environment suitable for a growing Filipino family.

Two Different Types However, there are two different types of condominiums in the market today that offers two different benefits for different Filipinos. One type of condominium offers the luxury and advantage of living within walking distance from workplaces and entertainment places, while the other caters to the needs of many modern Filipino families in terms of providing a family-oriented environment. These are the condominium and condominium complex.

A Condo for Executives Condominiums were first established in the Philippines as a type of housing that caters to the needs of executives and wealthy Filipinos working in business and commercial districts. This is the reason why most of these types of modern housings are found in business and commercial districts, such as in Makati City.

According to Philippine real estate experts, its location allowed its residents to live within mass transit distance or walking distance from their workplaces as well as other popular entertainment places in the market. However, what made these types of modern housings even more popular in the market is because of its collection of amenities.

Many Filipinos and Philippine real estate experts had said that condominiums are the only types of housings in business and commercial districts that can offer their own gyms, indoor swimming pools, as well as sports complexes for their residents, which made these types of housings even more popular in the market.

However, there are several disadvantages of these types of condominiums, and this is also because of its location. Because of its location, as well as it’s lack of a suitable facilities, condominiums became unsuitable for a growing Filipino family. This is the reason why condominium complexes were founded in the Philippine market.

A Condo for Filipino Families Condominium complexes, according to Philippine real estate experts, became popular for modern Filipino families because of its family-oriented environment, in which most of these types of condominiums are found around the outskirts of Metro Manila or even in the provinces, such as in Tagatay.

Because of its serene and peaceful environment, as well as its wide open spaces, condominium complexes became a popular type of housing for wealthy Filipino families, particularly for those that only started to live out their lives as a family.

In addition to that, condominium complexes can also offer amenities that suit the needs of a growing child, such as recreational parks and playgrounds, other than swimming pools, gyms, and spots complexes.

The disadvantage, of these types of condominiums, however, is also because of its location. Because of its location, which is found far from the city, many of its residents found it harder to get back to their workplaces.

Condominiums are known as some of the most popular and in-demand types of modern housing in the Philippines today. The reason for its popularity is because of its many benefits which can accommodate today’s growing demands for modern family-homes.

Popularity of Condominiums as Modern Family-Homes Condominiums were first established as modern types of housing found in business and commercial districts where it became a popular home for many Filipinos who usually spend more time in their workplaces rather than in their homes.

Today, however, condominiums have become even more popular because of the rising demands for modern family-homes in the market. Although the types of condominiums found in the city are inappropriate as family-homes, due to its lack of suitable environment for growing children, there are a number of different types of condo Philippines which are found around the outskirts of Metro Manila. These types of condominiums are known as condominium complexes.

Suitable Location for Growing Children The one apparent difference between condominiums and condominium complexes is that the latter is mostly found outside major cities, such as in the outskirts of Metro Manila. Although its location lack the accessibility that condominiums have been known for, condominium complexes does offer the proper environment suitable for growing children.

Because of the seclusion of the location that condominium complexes chose, these types of condominiums can offer cleaner surroundings and more breathable air as well as adequate space for running and playing.

In addition to the seclusion that these types of condominiums can offer, condominium complexes became even more popular as a modern home is because of the added privacy and security that it can offer to its residents.

According to many Philippine real estate experts, this is because condominium complexes are commonly found in exclusive communities similar to that of exclusive subdivisions and housing communities. But instead of houses, condominium complexes are commonly comprised of mid-rising and high-rising buildings.

Suitable Amenities for Growing Families Another important benefit that made condominium complexes popular as modern types of housing is because of the amenities that it can offer to its residents. Similar to condominiums in the city, condominium complexes can also offer recreational and resort facilities such as swimming pools, gyms, and recreational parks, but with the addition of several other facilities which aim to accommodate the needs of growing children, such as recreational parks and playgrounds.

As for maintainability and security, condominium complexes are also known for its capabilities to provide cleaner and safer environment for growing children.