CAM Fee massive 43% increase for zero extra benefit

[john donson]

I was stupid enough to buy an older condo

 

previous owner and agent informed me of 35 baht / square meter a few weeks ago

 

now apparently, not even 2 months later, juristic office announce an increase of 43%

 

mind, they additionally added an 2000 baht extra fee from august till november for maintenance, agreed by owners before I bought

 

wait, I thought CAM fees were to maintain the building, etc...

 

parking for 1 car, not included, if you come here late, you cannot even park your car, everything is double parked both sides

 

fitness is 50 baht per time, previous owner pretended it was included, and where is it not, right ?

 

cherry on top of my s.hitcake... previous owner did not pay their last cam fees, but magically the juristic office still delivered them a paper that apparently land office needed to clear any outstanding debt...

 

ahhhhhhhhhhhhhhhhhhhhh... if only I would have rented... but I thought, long term, it might have made sense financially... 

 

rant over...

 

 

 

 

[Celsius]

Just like a bargirl you're stuck with her forever.

 

Massive Positive - at least you didn't built a house in Isaan.

[scubascuba3]

You should have checked the minutes for the last AGM and annual accounts, also checked with the office about outstanding debt and yes old condos will be increasing their common fees eventually or just have supplementary fees every year (both discussed at the AGM).

 

The other thing about older condos is there will be a high number of refurbs going on meaning noise 

Edited 7 hours ago by scubascuba3

[OneMoreFarang]

25 minutes ago, john donson said:

I was stupid enough to buy an older condo

 

The first part is correct. But don't blame the condo.

You didn't inform yourself.

[MangoKorat]

36 minutes ago, Celsius said:

Massive Positive - at least you didn't built a house in Isaan.

And why's that?

 

I bought a house in Isaan - great location - 2.5 hours from Bangkok and no Thai wife.

 

Had it 10 years this month, no monthly fees, on site car parking, maintenance I do when necessary, no committees, normal electricity and water fees + its doubled in value, not that I have any intention of selling it.

 

Do it right, you're absolutely fine - buy one with your Thai wife on 'family land' in the village, then yes, I tend to agree. Just renenber, we are not all 'lovesick puppies' building that 'rural idyll, dream house' in Nakhion Nowhere with our 'teerak'.

[OneMoreFarang]

2 hours ago, scubascuba3 said:

old condos will be increasing their common fees eventually

And that make sense so that they have money to do necessary repairs and renovations.

Old building which are in need of repair are a much bigger problem.

[newnative]

       Buying a condo--anywhere--is usually a big investment--at least it is for me.  As others have said, you should have done better checking of this project before you purchased.  That would include checking the AGM meeting minutes, checking the financials, checking the swimming pool and gym, checking the general condition of the project, making trips to the project both in the daytime and at night, and interviewing some residents, if possible.  Doing these things should have alerted you, at the minimum, to the impending rise in condo fees, the parking problem, and the fee to use the gym.

      I certainly would not pay the delinquent fees the previous owner owed and I would let the Juristic know that they made an error in producing the debt-free letter when the condo was not debt-free.  Show your closing paperwork indicating the date when you took possession of the condo and let it be known that you will only be paying condo fees from that date forward.  Don't be afraid to make a stink--either with the juristic, with the condo board, or, if necessary, at the next AGM.  Or, all of them, if necessary.  

      The rise in condo fees is not necessarily a bad thing.  Many older projects have condo fees that are way too low to properly maintain the project.  Either fees are raised or the project slides downhill. 

     At the last older condo project I owned at, the condo fee was too low to maintain the project in the style the residents were accustomed to.  Rather than raise the condo fee, which I think was 40 baht/sqm, there was a special assessment each year I owned there to cover the shortfall.  The shortfall special assessment added to the regular condo fee translated to a total condo fee of around 60 baht/sqm., depending on that year's special assessment amount.   I was happy to pay the special assessment because the condo was a big investment for me and I wanted to protect my investment.   

[JeffersLos]

A total BS and troll story. 

 

4 hours ago, john donson said:

previous owner did not pay their last cam fees, but magically the juristic office still delivered them a paper that apparently land office needed to clear any outstanding debt...

 

Which you would still have copies of, and would get them removed from office, if it was actually true. 🙄

[Liverpool Lou]

4 hours ago, MangoKorat said:

I bought a house in Isaan - great location - 2.5 hours from Bangkok and no Thai wife.

 

Which route did you choose to be able to buy a house in your own name?  

[Celsius]

50 minutes ago, Liverpool Lou said:

Which route did you choose to be able to buy a house in your own name?  

 

which is also 2.5 hours from Bangkok.....in Isaan