Key areas buyers should focus on before purchasing condominium property

11 November 2021 12:31 am Views - 473

 

What needs to be considered before thinking of living in a condominium housing unit? 

• Your willingness to live in a condominium property
• Your willingness to live and share common elements and common amenities among all unit owners which is significantly different from living in a separate house
• Identifying and checking who your neighbours are
• How you see the surrounding areas from your housing unit.
• Being 100 percent aware of facilities available to you 

(As you can only enjoy what is indicated in the condominium plan and not what is mentioned in the media, brochures and leaflets selling housing units.Therefore you should pay strict attention to the condominium plan)
 

• Pay attention to infrastructure facilities in the area surrounding the condominium property. (Eg: hospitals/ bus halts/ schools/ supermarkets/ shopping complexes. etc) 
• It should be noted that it is your right to request the condominium plan from the relevant developer before purchasing a housing unit. You can enjoy only the common elements and common amenities indicated in the condominium plan 

What are the things to be checked regarding a condominium property proposed to be constructed? 

• Reference of previous condominium properties constructed by the developer and their quality should be looked into. You can also make inquiries in this connection from the Condominium Management Authority (CMA). 
• It should be checked whether the preliminary clearance certificate issued by the CMA has been obtained by the developer.  

What are the things to be checked when purchasing a semi-condominium property? 

• It should be checked whether the semi-condominium plan has been registered.
• It should be examined whether the certificateof conformity (COC) has been obtained from the relevant institutions. (UDA or Local authorities)
• It should be checked whether the developer has obtained the semi-condominium certificate issued by the CMA. 
• Before obtaining the deed with regard to the housing unit selected by you, it is advisable to check whether the extent of square meters of the housing unit and common elements are correctly, indicated in the deed authority to sales & purchaser agreement.

Once the Condominium Property is constructed by the developer whatare the facts need to be checked before making the full payment as per the sales agreement prior to purchaser the unit/obtaining deeds? 

• It should first be checked whether the certificate of conformity (COC) issued by the Urban Development Authority or the relevant local government authority has been obtained. It enables you to obtain a copy of the condominium plan from the developer and gain full understanding about the condominium property and the housing unit to be purchased by you and all details regarding common elements and common amenities available in the property. You have to keep in mind that you will only receive elements and amenities in the approvedCondominium Plan.
• It should also be checked whether the developer has obtained the condominium certificate issued by the CMA for common elements and common amenities.  Thereby you can be fully aware of all details pertaining to the condominium property and condominium unit. The condominium building has been constructed as per that condominium plan and the building plan. You can also seek assistance from the Condominium Management Authority in this regard. 
• Before obtaining the deed pertaining to the housing unit of your choice, it should be checked whether the housing unit and the parking lot have the square meters indicated as per the sales agreement or Condominium Plan. 
• It should also be inspected the categorization of the parking lot facility. (i.e. common/ Accessory (Assigned))
• Inquiries should be made about the contribution payable for common elements and common amenities by a unit owner. (In terms of the regulations made under the provisions of the Apartment Ownership Act No.11 of 1973 as amended by subsequent amendment acts and published in the Extraordinary Gazette dated 05th July 2017, the unit owner is bound to pay management fees proportionate to the relevant share value)

What are the matters needed to be checked before repurchasing a condominium property from the original owner of the unit?

• It should be checked whether the developer has constructed the condominium property as per the sales and purchase agreement has followed the due procedures and all documents/approvals should be inspected and copies thereof should be obtained. 
• It should be ascertained whether the management corporation of the condominium property has been established. 
• The amount required to be paid as the monthly maintenance fee for the housing unit should be checked. Further, if there are any monthly maintenance fees and subscription fees unpaid by the previous owner, an agreement should be reached with the him/her regarding the matter.  
• It should be checked whether the unit expected to be purchased requires any repairs.
• It should be examined whether the management corporation maintains a sinking fund in respect of the condominium property for emergency purposes. 

 

What are problems that could arise in a condominium property? 
1.Unit owners being unable to obtain deeds due to the on-registration of the condominium plan with Condominium Management Authority.
2.The management corporation of the condominium property not being registered with the CMA.
3.Issues pertaining to the construction.

I.The land on which the condominium building is located has no dispute. 
II.Not meeting proper construction standards as a result of using substandard raw materials. (Eg: water leakages, cracks in walls / floor tiles) 

III.Not complying with the sales agreement entered into between the developer and the buyer
IV.There being shortcomings in common amenities and common elements though they are duly indicated in the condominium plan by the developer.

V.Lifts and firefighting equipment not being properly installed. 
4.Internal and external water leakages in a condominium property.
5.Unauthorized structures in violation of the condominium plan.
6.Non-payment of monthly maintenance fee to the management corporation by the unit owners.
7.Irregularities of the officials of the management corporation 
8.Problems pertaining to parking areas.
I. If a parking slot has been allotted to your condominium unit, check the slot number relevant thereto and whether it is cleaned.

II.If parking slots are not assigned to individual units, the parking area is deemed to be common and vehicles can be parked on the first come first served basis. Problems may arise if the number of parking slots is less than the number of housing units.

III.The vehicle being larger than the parking slot and haphazardly parked vehicles. 
IV.Adequate number of vehicles cannot be parked in parking areas indicated in the condominium property. 
V.Bicycles or other goods being left in parking areas.
VI.Vehicles have to be taken out when manholes are repaired or when the parking area is cleaned.
VII.The parking lot being used by children as a play area.

9.Problems pertaining to disposal of garbage.

10.Problems that arise in using common elements and common amenities.
1. All unit owners have the right to use common elements and common amenities in a condominium property. The areas outside the walls of the unit such as the corridor, staircase, rooftop, ground floor, parking areas are considered as common elements. Personal belongings of unit owners should not be kept in such places. Common amenities include the gymnasium, swimming pool, lifts, etc. All unit owners are entitled to use common elements and common amenities and disputes may arise among residents if any one attempts use them as private property. 

11.Problems associated with the boundaries of the condominium property. 
Even though an ordinary house has four boundaries, a condominium housing unit has six boundaries, i.e. the four directions and upper and lower boundaries.

12. As set forth in 6(d) of Section 2 of the 2nd schedule of the Apartment Ownership Act No. 45 of 1982, rearing pets in a condominium property is totally banned as it may pose health problems and safety issues to others and loud noises made by some pets may be disturbing to residents. 
Paying due attention to the matters outlined above in respect of the Condominium housing units to be purchased by you or if you are living in a unit at the momentwill minimize any inconvenience and problems that you may encounter in future.