Category Archives: Condominium

Your Preferred Condominium

Looking for some condominiums in the Philippines? Condominiums has become a very popular type of housing in the Philippines, particularly with people wanting to start their lives away from their parents. This is because, unlike the usual house, condominiums are far cheaper (depending on the condominium), making it easier for a lot of people to start with their own lives. However, before looking into buying a condo unit, its important to know what your preferences are.

Location preferences
Location is one of the most important aspects of would-be buyers of condo units. The best their about condominiums are its accessibility either to relaxation or to work. Most condominiums in the Philippines are located in the heart of a big city, such as the many makati condo found in the city. These types of condominiums may serve a lot of purpose particularly with tenants that works nearby. This way, people could easily avoid rush hour. Other than these condos, such as makati condo, other condominiums are found in the outskirts of a city.

Other than its accessibility to work, some condominiums are built outside of big cities, particularly in provincial areas. Compared to condominiums found in big cities, such as that in makati condo, these types of condominiums may offer relaxation and peace. These kinds of condominiums are more popular with people wanting to start their own family or people that wanted to move away from the busy districts of a big city. Either way, these kinds of condominiums are the best place to start a family.

However, there are several things that a would-be buyer should turn their attentions to before buying a condo unit. Other than their preferences, its also best to consider the many details concerning condominiums. One in particular is with its monthly fees.

Monthly fees
Every condominium around the world, including in the Philippines, has their own fees. Other than taxes and bills, tenants would also have to pay a monthly fee. These fees are usually used for the maintenance of the whole condominium as well as for its security. So its best to look for a condominium that would not only fit your preferences with its location, but also with its fees.

Restrictions
Other than its location and fees, you should also consider the many rules and regulations in a condominium. This is very important, particularly when you wanted to start your own family. Although some condominiums may allow children into their units, there are several condominiums that doesn’t allow children inside their condominium as well as the number of tenants per unit. So before buying a condominium, you should get this straight before everything else. For more information visit to our site at http://www.atayala.com

Increased Demand In Architecture Services Due To Housing Recovery

Architecture services have becoming increasingly popular in the past few years due to increased demand for housing in the United States. As the housing recovery and overall economic recovery continue to paint a more upbeat picture, more architecture services are being contracted. Architecture services allow for home building, home redesign, and more. Typically, if architecture is becoming increasingly in demand, that economy is usually on a upward swing.

Most architects offer both residential and commercial architecture design, as well as structural engineering services. For residential services, architects will work to come up with a design that meets all your needs, while working to meet your construction budget. Residential services typically include preliminary design, construction document preparation, interior design, landscaping design, energy efficiency calculations, and construction administration.

Other areas architects specialize in include custom residences, renovations, additions, new construction jobs, historic preservations, multi-family units, apartment complexes, condominiums, and even property development. Architects can generally even create three dimensional renderings to help show you your plans, elevations, sections using exclusive and modern design software. This allows for increased efficiency, easy planning, and helps to reduce costs and miscommunications. Commercial services typically include pre-design feasibility studies, building evaluations, programming, surveys, preliminary design, three dimensional modeling, and more. Construction administration and architecture designs are also available. Most architects are adept at construction documentation, code analysis, energy code compliance, and design development, among others. Construction administration services include: assisting in bidding and negotiations, permitting, project management, site preservations, and more.

3 Dimensional Renderings: Architects experience their environment in 3D while plans, elevations and sections are printed in 2D on flat paper sometimes creating difficulties interpreting designs. Many will even craft your project in 3D within the computer on the latest CAD and 3D software to provide you with a model that may be easily understood. This improves design efficiency, reduces project costs and results in highly effective communication.

Be sure to look for an architect that responds to your needs with thoughtful, individual designs to create inspired architecture that is both artful and intelligent. Architects must believe their design solutions will elevate the spirits of the user, but also balance value and economy while expressing the client’s ideals. Look for Nationally Accredited (NCARB) Architects as they tend to offer a higher level quality of service and design.

Many architects tend to specialize in housing, restaurants, retail, banking, offices, hospitality and historic preservation sites. Additional services could potentially include structural design and analysis, shear wall designs, insurance claims, framing plans, code compliance reports and more. Be sure your architect will be able to integrate your structural requirements into the process effectively and efficiently, in order to ensure for a beautiful and safe building upon completion.

Condominium & HOA Management – Association Management

How a condo is managed can quickly determine its success or failure. While many small condominiums can be self-managed, it is almost a necessity for medium to large-sized condos to hire an outside HOA management company to handle the responsibilities. Cost and time are the two most influential factors all associations will consider when deciding upon the style of HOA management, whether it be through HOA property management or self-management.

The number of units in the condominium will be the main determinant of the cost for what style of management will be implemented. Generally speaking, the majority of professional property management companies will not manage a building with fewer than twenty units because it is simply not cost-effective for them. It is also not cost-effective for a small building because they generally have limited operating budgets.

A positive aspect of HOA management companies is their solid relationships with vendors and legal firms in the event an issue with HOA laws arises. These relationships mean that vendors and law firms will make every effort to provide great service. The vendors know they will be paid on time by a stable management firm, and this will translate to repeat business. A self-managed condo association typically does not have that kind of pull with service providers.

When condos choose self-management, however, things do tend to get accomplished just as well as when handled by professional homeowners association management. When the owners have a personal stake in the success of the association, things tend to function well. Self-management of a condo also creates a sense of community for the owners. It is quite possible for owners to work together effectively when operating procedures are established and duties are delegated in a fair and consistent manner. Subsequently, a strong sense of accomplishment will be felt among the members when the tasks are accomplished through a concerted team effort.

Self-management should only be entertained when there are owners available who have not only plenty of time available to them, but also the broad range of knowledge required to address a variety of condo management issues all the way from finances to maintenance issues. The cost of correcting errors made due to poor management skills can quickly exceed the cost of simply allowing a professional to perform the job.

Of course, HOA property management companies can also be quite expensive, and a company may not always choose the most cost effective methods of getting something done. The vast majority of homeowners association management companies are conscientious about adhering to high standards of quality, but they will generally not be as particular about decision-making as the owners will be since they have no personal vested interest in the property. Furthermore, outside HOA property management may not be as receptive to concerns or observant of problems when they arise, and they may very well ignore certain issues that an owner would catch.

Condominium Insurance Are You Really Insured

Condominium Insurance
Are You Really Insured?

Are you properly insured against fire, theft or water damage to your condominium or townhouse? If a disaster strikes, who is going to repair the damage? Will your condos insurance cover damage inside the condo or is that up to you?

You may need to get what is known as an HO-6 policy. This type of insurance protects you – the owner of the condo or townhouse and makes sure that your home gets returned to its proper condition following a disaster.

When most people first buy a condo or townhouse they call their insurance agent, explain they are purchasing a condominium unit and that they need to provide proof of insurance to their lender. The agent then supplies proof of insurance for the mortgagee in the form of a Certificate of Insurance or some other Proof of Insurance and the transaction is complete. Usually that proof of insurance relates to the condominium association master policy, not to your personal condo unit.

In most cases, however, there is large gap in coverage for the interior of your condo. Most condo association master policies just cover the exteriors and common areas. If you, the condo owner suffer a loss, you most likely will be underinsured or not insured at all unless you had an HO-6 policy.

In order to fully determine the adequacy of your coverage, you and/or insurance agent need to review the condominium master policy and the condominium governing documents (CC&Rs). It is possible your condominium has walls-in coverage on their Master Policy (now required by Fannie Mae). However, this may be a false sense of confidence in the coverage as walls-in coverage would likely be limited to replacing the interior fixtures with what was originally installed.

So, if you have a 30 year-old condo that was upgraded recently with granite counters, custom cabinets, marble flooring, dual-paned windows, etc., then you would only be paid to replace the original fixtures formica counters, green shag carpet, low-grade cabinets and single-paned windows. However, an HO-6 policy with replacement cost coverage would assure you that you have coverage for what you had at the time of loss. Just as important, the HO-6, in Coverage, A will probably insure the condominium association master policy deductible if it is assessed to the unit owner.

Even worse would be to discover your condominium association only had a bare walls policy. This means that you have absolutely no coverage for anything inside your unit. If you suffer a loss, you would essentially be without coverage unless you also had an HO-6 policy.

Cebu Homes Affordable Packages Condominium For Rent In Cebu City

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.

Difference Of Condominiums And Townhouses From Houses

The number of house and lot for sale Philippines today have significantly increased due to large demand in the market. Although there are other types of housing in the Philippines other than the typical house, such as condominiums, and townhouses, many of today’s Filipinos are still opting to buy a house and lot of their own. So what is the difference of buying a condominium or a townhouse from buying a typical house and lot?

Owning a multi-unit dwelling
Condominiums and townhouses are considered in the industry as type of multi-unit dwelling, in which a unit is individually occupied. The difference between condominiums and townhouses is that condominiums involves owning a unit (one or maybe more, depending on the residents) in a floor while townhouses involves owning one floor in a building or a compound.

Although these types of houses are similar to a typical house in terms of ownership, in which condominiums and townhouses are individually owned rather than rented or leased compared such as the case for apartments, there are several differences between these two types of residential real estate.

Buying a house and lot for sale Philippines leads to the ownership of the house as well as the land it sits on. This type of ownership is mostly known as owner occupancy. Owner occupancy gives occupants the right to modify the building and land as they please. This, however, maybe subject to government, homeowner association, and deed restrictions. It also protects them from eviction, and creates a right to occupation which can be inherited.

Owning a condominium, on the other hand, can also be a form of owner occupancy. However, professionals have stated that condominiums are more likely to be a type of commonhold or strata title. This means an apartment or house is assigned to an individual, but common areas such as hallways, heating system, elevators, exterior areas, are are controlled by the homeowners’ association. This means that condominium owners doesn’t have the right to modify their condo units as they please or the land it sits on. This is also the case for townhouses.

Disadvantages of owing a house
Buying a house and lot for sale Philippines do have its advantages, there are also several disadvantages to owning a house. One is that most houses and the land they sit on are expensive, and the combination of monthly mortgage, insurance, and property tax payments is greater than monthly rental costs.
For more information visit to our site at http://www.atayala.com

Popular Amenities of Living in a Condominium Unit

What made condominiums popular? According to many experts, condominiums had gained a lot of popularity in the Philippines because of its many benefits, such as its accessibility to business and commercial districts. But other than those benefits, condominiums are also known for its other advantages, such as:

Amenities of Condominiums Other than the fact that these types of modern Philippines properties for sale can offer Filipinos the opportunity to live in home where they can easily and conveniently access their workplaces, condominiums are also known for collection of amenities that made it unique from other types of modern housings in the country.

Maintainability and Security Condominiums are not the only types of housing in the Philippines which are found in the middle of a popular business and commercial district, such as in Makati City. Apartment buildings as well as a number of townhouses are also found in different business and commercial districts which can offer a more affordable home where Filipinos can easily access their workplaces.

However, the reason why condominiums had gained a lot of popularity is because of its unique benefits, including its own maintenance and security personnel.

Although many apartment buildings are known to offer these, condominiums were the only types of such housings in the past that constantly offered these benefits, which is why condominiums quickly rose up in the market.

Because of its maintainability and security, condominiums can ensure their residents that their living spaces will be maintained properly, while their safety is assured within the confines of their condominium units.

Facilities In addition to its maintainability and its security, another major reason why condominiums had gained a lot of popularity in the Philippines is because of its unique collection of facilities in which condominiums are the only types of modern housings in business and commercial districts that can offer facilities, such as swimming pools, gyms, and sports complexes.

Because of these facilities, condominiums quickly became even more popular among many modern Filipinos who seek to live in a unique home where they can easily take advantage of its different benefits. Since then, condominiums had strived to become one of the most popular and in-demand types of housings in the Philippine market. Condominiums for Families There are also a number of condominiums which are found in the outskirts of Metro Manila. These types of condo in Philippines are known as condominium complexes, and part of what made these types of housings popular as a family-home is because of its family-oriented environment, as well as its facilities which can accommodate the needs of growing children, such as recreational parks and playgrounds.

Possible Snags When Purchasing Panama City Condos

If you’re seriously thinking of purchasing Panama city condos, you should know where you could make a mistake so that you will realize what problems to anticipate and how to recover from these setbacks. Furthermore, these difficulties could be converted into opportunities to know better and have a positive experience buying a property in Panama. The market industry for Panama city condos does not just involve residents but additionally other ethnicities that are enthusiastic about moving or visiting the country. Business men, retirees and other people who have loads of disposable money are all out waiting around to have their own hands on the very best properties in Panama City.

Finding out how to turn an obstacle around could help you save lots of money by steering clear of bad brushes with the regulation and stuff like that. Whenever possible, learn about what exactly you are getting into so you will not violate something for making a purchase. Additionally, there might be distinctions with getting new Panama city condos and buying foreclosed kinds you need to make a note of. For example, a private firm or agent should inspect a foreclosed home particularly when you’ll be obtaining a loan to buy the unit and you can be paying for an additional premium if you decided to secure a home loan.

Another obstacle to buying your own condo units is not having crucial docs converted in Spanish. In Panama, all of docs must be reduced publicly must be translated in Spanish and authenticated within the appropriate federal government office. If not, your own condo unit purchase can be delayed the same way as you have wrong or misspelled information on your own docs. This is exactly why proper care should be taken to make sure that you have complete documents.

Another hitch is if the condominium unit that you are buying doesn’t have a clean title. More often than not, the reason why someone can’t sell a unit is really because it is a kind of security for an active loan. Ensure that the seller has resolved his accountability and that the title or the unit is free from encumbrances. Moreover, before purchasing a unit, question regarding capital gains taxes and also other charges which you may have to pay for. These incidental costs should be totally resolved before the title can be transferred to your name.

A few sellers will get you to sign a contract just before seeing a real unit for sale, always question and read through the papers given out to you just before putting your signature on. Additionally, condo units don’t have much variety just like regular bungalow homes do. You will definitely need to beautify your unit to help make it look unlike the other units within the building. Another possible problem with purchasing a condominium unit is with regards to having pets. Most Panama city condos do not allow house animals within units therefore you might have to put your much loved pets for adoption if you’d like to be in a condo. Nevertheless, do not give up trying to find the ideal condominium because they’re excellent investments. But again, remaining in condos is not for everybody so you might want to rethink before making a reservation.

Realities Of Smoke And Soot Damage In Minneapolis

Following a fire incident, some of the most common problems that homeowners face are smoke and soot damages. This problem also arises in areas where people constantly smoke indoors. The smell of smoke and the soot in surfaces can both be difficult to remove, which is why many homeowners choose to get professional clean up service.

Smoke Damage Removal

Many cleanup contractors offering such services use fogging machines like an ozone generator to totally remove the smell of smoke, which can affect not only the areas involved in the fire but also nearby areas since the smoke can be blown by the wind in any direction.

While fogging devices mentioned above work effectively in eliminating smoke damage, they pose some health concerns. Therefore, health experts strongly advise that homes and any other building that will be subjected to an ozone generator should be completely vacated and household members should only be allowed inside when the ozone has dissipated completely.

Besides smoke damage from a fire incident, a house can also suffer from cigarette smoke. It is very tough to get rid of the smell of cigarette smoke. This is why many owners of apartments and condominiums prohibit smoking indoors because it just leaves a terrible smell in the house.

The smell of smoke lingers in a room for hours and can actually stick to the room if people regularly smoke there. Even if you have a window open when you smoke indoors, the smoke can also easily be absorbed by clothes or any other fabric. This can be very unfortunate if the room is shared by smokers and non-smokers. Fortunately, smoking indoors is strictly not allowed in more than 200 apartments in Minnesota.

Soot Damage Removal

Even more challenging than smoke damage removal is removing soot. If you are dealing with major soot damage, the ideal solution is to hire a professional to do the soot removal. Soot removal methods if not done properly could only create further damage. For example, soot can further spread in the affected area. In some cases, the wall paint was scrubbed off along with the soot. Additionally, if the damaged area is extensive, hiring a professional will save you from serious manual work.

Usually, contractors offering fire damage repair and restoration services are the same people who could help you with soot damage removal. If you are a Minneapolis resident and you need immediate soot removal services, you dont have to go around town looking for the nearest contractor. Through the internet, you can locate a contractor that services your area. Dont forget to check the companys background to make sure youre working with someone reputable.

Both smoke and soot damage removal can be a difficult task. Getting rid of soot successfully does not mean you would be able to remove the smell of smoke completely. Depending on the scale of damage to be resolved, you can pull off these tasks with just a little commonsense and some simple tools. If you are not sure what to do, however, you can always ask for professional help.

Buying Off Plan Real Estate In Thailand Condominium Acquisition And Escrow

Off plan condominium purchase in Thailand means buying a condo in a planning stage or a condominium not yet fully constructed. The standard payment schedule found in an off-the-plan sale and purchase agreement of a condominium in Thailand is:

1. a reservation agreement with a reservation fee of 100,000 baht (approx 3300 USD)
2. a deposit of 10 to 20% of the purchase price on the execution of the condominium sale and purchase agreement
3. periodical installments during the construction of the condominium with a final installment of 1/12th to 1/20th of the purchase price upon transfer of ownership of the condominium.

Who to pay to?

Paying in escrow for a condo in Thailand means that payments are made to an Escrow Act licensed third party financial institution or bank that will hold the deposited monies till the conditions of the condominium sale and purchase agreement have been met, depending on the contract. The use of escrow services in Thailand for property purchases is not common!!

Generally developers in Thailand DO NOT offer escrow payment arrangements. Property developers in Thailand are under the Escrow Act or new Condominium Act and Condo Act regulations NOT required to offer escrow agreements to consumers. Property developers in Thailand are free to require deposits and installments in agreements without offering any protection for the purchaser payments. There is no legal protection structure in place for realty buyers. This part simply depends on the agreed and accepted contract terms and conditions between the seller and purchaser. If the buyer pays directly into the developer’s account this is an accepted risk he as the purchaser takes.

In 99% of the property development projects in Thailand the purchaser makes the payments directly to the developers bank account. Obviously payment made directly to the developer, as opposed to payments made in escrow, carries some serious financial risks for buyers in case of default by the developer. They risk loosing all. In addition, pre-paying the development, the buyer looses all leverage in case of delay or poor workmanship. At the time of completion the buyer has paid up to 95% of the purchase price and the developer is in a much stronger position and can simply refuse transfer of ownership to the buyer.

The developers company

The standard payment schedule by which the purchase price is paid directly to the developers bank account during the construction or even before the start of a condominium project carries risks of losing your payments in case of default or bankruptcy of the developer.

An important part of this arrangement is the developers company. Is it a large SET listed (Thailand stock exchange) real estate developer or a limited liability company with a low share capital and a poor track record? Limited liability for the developer means limited liability and in case of default there is for the buyers little chance of getting any of the payments back.

The Condominium Act supposed to protect the interests of the buyers of condos in Thailand but does not require the establishment of escrow arrangements in an off-plan condominium development.

Paying directly to the developer in Thailand is taking a risk.