The Condominium will be managed by an on-call (as opposed to an on-site) Property Manager. The Manager will hire an on-site domestic rendering 16 hours of service and a night watchman rendering 8 hours of service. The Manager will also take care of collections, bookkeeping and the maintenance of records, regularly visiting the building and auditing the domestic and the guard to maintain compliance. The Manager will be accessible to the residents via cellphone. The domestic and the guard will likewise be equipped with, and accessible via, cellphones. To ensure a continued acceptable level of alertness and service, both domestic and guard will be rotated or replaced regularly. In addition to the night guard, the association will likewise contribute to the maintenance of a full-time barangay watchman (Tanod) in the vicinity. The regular overhead of the condominium will be supported through the collection of association dues, i.e. via regular assessments. These are expenses that are regularly incurred irrespective of the occupancy level of the condominium. They are assessed against all units irrespective of the actual occupancy of the unit. The details of the expenses that these dues are to support, are found in the table below. In addition to regular assessments, there will be unit-to-unit special assessments that are based on the occupancy of the unit. These expenses are mainly due to the operation of equipment and machinery in the service of the actual building occupants. The actual monthly total will vary depending on occupancy requirements and will be allocated over and assessed against, the individual units that are actually occupied, based on their proportion of water consumption. An estimate of the contribution of each unit, assuming full building occupancy and equal water consumption amongst the units, is also found in the table below. All expenses will have to be promptly paid. It is estimated that at least 80% of regular and special assessments will correspondingly be promptly collected. Late payments, with the corresponding penalties, will not be relied upon to support regular expenses and, when collected, will be accrued into a Capital Fund to support major repairs or maintenance (such as painting) or improvements to the Condominium. The table below likewise shows the capital outlays that will be done at the initial setup of the Condominium Corporation. |
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