We would like to know about how the condominium is managed when it comes into operation?
Question:
Our company has just completed the construction of a condominium and sale of apartments. We would like to know about how the condominium is managed when it comes into operation?
Answer:
Pursuant to the Article 71 Law on Housing, for each condominium, a management board must be formed to act as representative of owners and users in protecting their rights and legitimate interests in the course of using the condominium.
Within twelve months after condominiums are put into use, investors shall have to organize meetings of condominium owners and users (hereinafter called the condominium meetings) to elect management boards. Investors shall have to prepare relevant contents for consideration and decision at the condominium meetings. In the pending period for establishment of the management board, investors shall have to perform the tasks of the management board.
Besides, Article 11 Decision 08/2008/QD – BXD dated May 28th 2008 of the Ministry of Construction on the management and use of condominiums regulates that: “The condominium meetings are the meetings of the owners and users of condominiums. The condominium owners and users can appoint the representative or authorize a person to act on their behalf in the meetings. The meetings can be held for each condominium or for a condominium group. In the meetings of each condominium, the number of owners and users must be more than 50% of the total attendance. In the meetings of the condominium group, each condominium must have a representative, the number of owners and users must be more than 10% of the total attendance”.
According to the above regulation, the attendance of condominium meetings must have: over 50% of the total number of owners and users in case of the condominium meetings for each condominium or over 10% of the total users and owners in case of the condominium meetings for the condominium group.
The above are steps which your company must follow to ensure the compliance of its management with the laws of Vietnam.
