Understanding Maintenance Fees and CAM Fees: What You Need to Know
Maintenance fees and Common Area Maintenance (CAM) fees are an essential aspect of property ownership. In this blog post, we will provide a concise overview of these fees, including their frequency of payment, coverage, and calculation methods.
Maintenance Fees: What, When, and How?
Maintenance fees are a necessary contribution that property owners make to cover the upkeep of shared amenities and common areas within a development. These fees can be paid either monthly or semi-annually, with some opting to pay in advance. Common areas typically include pools, gyms, gardens, and other communal spaces that enhance the overall living experience.
Determining the cost of maintenance fees can vary depending on factors such as the size of the property and the range of amenities available. The fees are often calculated based on a rate per square meter, which generally falls within the range of 40 to 70 THB/sq.m.
Understanding the Sinking Fund
Apart from maintenance fees, it is crucial to grasp the concept of a sinking fund. A sinking fund is a reserve set aside for significant repairs and unexpected expenses that may arise in newer properties. This fund is typically established during the initial purchase of the property and may require periodic replenishment based on collective decisions made by the property owners.
The sinking fund is managed transparently by the project's department, ensuring that the accumulated funds are utilized for their intended purpose, promoting the overall well-being and longevity of the property.
Take Advantage of Our Limited-Time Sale!
Are you considering purchasing a property and want to learn more about maintenance fees and sinking funds? Don't miss out on our exclusive sale! Contact us now for personalized assistance and expert guidance throughout your property buying journey.
