During the years of the real estate boom, real estate developers struggled in a fierce environment where differentiating their housing developments from the competition was an infallible weapon to attract buyers. There were multiple options: luxury finishes, home automation installations or common areas that would increase the subjective value of the home, thereby facilitating its sale by having greater appeal.
So much so that urbanizations with common areas, both sports and recreational, were the most popular despite their higher sales price. In general terms, the use of common infrastructures in this type of development is always free, based on the self-management formula. With free use with the only requirement of being the owner and making a prior reservation.
Neighborhood communities tighten their belts.
However, with the arrival of the crisis, the maintenance of common areas in neighboring communities becomes a headache. The infrastructures that were previously attractive now raise the fee for property management and complicates the objective of keeping the accounts of the community of owners healthy .
Common facilities for the community such as the community pool, the gym, the paddle or tennis court considerably increase the receipt of the community of neighbors even in cases in which the facilities are not used. This fact raises a reflection among the owners who do not enjoy the common areas but support their maintenance every month.
The copay as a financing formula.
A solution to this new reality is the individualization of expenses. This way only users who actually use the common facilities bear the cost of maintenance based on quotas to be discussed in the community of owners.
Although it requires a prior agreement in the community of owners, imaginative solutions such as co-payment can resolve the conflict in specific cases. Examples such as elderly couples who do not use the swimming pool or the paddle tennis court; or neighbors who are owners but do not reside in the urbanization on a regular basis; could be solved with this formula.
If you want to know this or other imaginative and innovative solutions within the world of property management, contact us. Because at AF Gestfinc we work for your happiness.
