Common Fees for Condo in Cha-am

[appleman_thai]

Hi

I'm trying to establish the average annual fees for condos in Hua Hin or Cha-am area.

Our committee intend to increase the fees, but I think they are already high.... would just like an idea of how much per square metre other people are paying.

In Bangkok I was paying 254 baht per square metre per year (i.e. 33600 *132 sqm),

In Cha-am, I am paying 294 baht per square metre per year (73600 * 250 sqm)

How does that compare to others?

Thanks

[KittenKong]

In Pattaya I have seen rates from 10B/sqm/month to 80B/sqm/month. So I dont think there is any hard and fast rule.

Generally older buildings are cheaper, often because they have never been able to get a quorum together to vote an increase. Such places often end up dipping into the sinking fund to compensate so you have to average out all the charges to really know what you are paying.

The type of facilities provided (pool, gym, tennis, sauna, free wifi etc) is also going to have a big impact on the fee as will the total number of units in the building.

So your 25B/sqm/month sounds reasonable.

[appleman_thai]

Cheers - thanks for info.

We have 3 pools (in real bad need of some decent maintenance and repair) and really beautiful gardens that are maintained immaculately......

So I'm guessing I should be happy.... but its always tough being happy when people want more money from you :-(

THanks!

[Delight]

Read the accounts that were presented 7 days prior to the last AGM of this condo.You may need some advise on how to read them-unless of course you are an accountant.

If you spend the time you should then get a feel for both the strengths and the limitations relating to this condo.

Suspect that you will feel better about money issues at the end of this exercise.

[smutcakes]

In all honesty there will not be much difference between Common Fees anywhere in Thailand, perhaps aside from Chiang Mai and some 'out of the way places'

The big ticket items are normally security, cleaning, insurance, electric, management staff cost, and fees- it does not matter where you are these are a fairly constant throughout. You have a difference between international and local service providers, but these days there is not even much differential between these.

The two rates you provided are very much on the low side, especially the Bangkok one. It is rare in Bangkok now to find a new Condominium charging anything below 40 baht per sq m per month and some go up to 120 baht per sq m. Condominiums with larger sellable space often can get away with slightly lower fees due to economies of scale- whereas many of the new condo's in Pattaya will be completely unmanageable due to huge unit numbers, but relatively small total sellable space the common fee is paid on. You will end up with a very high maintenance and difficult building to manage, but a very low budget to employ competent persons to do it. Plus i expect any 'building manager' would prefer to pick up the same salary in a steady 100 unit condo, than a 800 unit mishmash.

[PattayaPhom]

25 Baht sqm is OK....this is becoming a regular occurance now. Condo managements are increasing maintenance fees and levying charges on items such as debt free letters. With minimum wage and the effects on inflation all condo owners will start to see these costs increase regualary over the next few years.

[appleman_thai]

Thanks for replies.

It was 25 baht per SQM per month.... but they are proposing to increase this to 38 baht!

Seems like a hefty increase to me i.e. 52%!!!!

[smutcakes]

A quick example of how 25 baht sqm is not enough these days.

Condo- 10,000 sqm (about average in Pattaya) * 25 baht = 250K per month

Basic essentials (and this is probably bare minimum with little or no emphasis on improved service)

Security – 3 Pax – 51K per month

Cleaning- 3 Pax – 48K per month (3 persons on a 10K sqm condo is not really sufficient)

Management staffing- 2 Pax – 40K per month (this would not give you 7 day coverage every week and not a particularly high quality persons, and you would probably need to outsource to a company to do the accounts, plus M&E maintenance companies)

Electric- 20-25K min depending on occupancy, lift usage, ac in common area

Water supply- 15K per month

Landscape & garden- 20K per month

Telephone & Internet- 3K per month

Insurance- 10K per month

Lift maintenance contract 5K per month

Management fee = probably 20K per month minimum (this type of management company you would get little or no support from them)

That alone brings you to around 235K, and there are many other small minor expenses that are incurred on a near daily basis. (garbage collection, bank charges, travel for staff, minor breakdowns on equipment). In addition in every building you have periodic breakdown of main equipment, more so when you have no preventative maintenance, which makes breakdowns and reliance on external providers even more expensive (lifts, pumps, etc etc)

At 25 baht sq m it is simply not enough these days. Perhaps if your condo has little or no desire to improve or do anything other than make it basically livable then you can probably get away with cutting this and that (leaving common lights off etc), but any condo who want to keep the condo in good condition and maintain value of their investment really need to have more cash available than that.

[appleman_thai]

Thanks for detailed reply.

It's really helpful when you provide all that information....... much appreciated.

Makes me feel a lot better about the increase in fees.

My worry is that money is going missing via back pockets.......

For sure, everything is getting more expensive here.... the REAL inflation rate must be close to 10% at the moment....

My condo is really beautiful and well maintained...... it's actually pretty impressive what they have achieved with the limited budget.....

But 51% increase to 38 baht per sqm - seems quite a lot.

I dont mind paying that, as long as I am sure the money is being well spent and not wasted.

[ace]

You need to review the accounts, which need to be posted in the common area each month including all income and expenditure.

I pay 30b m2 in one place and 10b m2 in another new development which i am sure will increase.