Condominium - setting up
#1
Condominium - setting up
Can anyone point me in the right direction for advice on setting up a condominium. We have a condo company but there is some confusion about opening a bank account to manage the finances. Whose responsibility is it and in whose name should the account be?
#3
Re: Condominium - setting up
I only have experience of similar thing in the UK. A limited company was set up with a bank account in the company name, any two directors to sign cheques. Hope this is of some help.
#4
BE Enthusiast
Joined: Sep 2007
Location: Woodbridge (x Tavira)
Posts: 817
Re: Condominium - setting up
The condo company should do all this for you, thats what you pay them for. Presumably you do pay them? The condo company I use just take the money from me each month, the first month was a bit more as they had to do extra admin. Each time you pay you should get a receipt.
Joao
Joao
#5
Re: Condominium - setting up
The condo company should do all this for you, thats what you pay them for. Presumably you do pay them? The condo company I use just take the money from me each month, the first month was a bit more as they had to do extra admin. Each time you pay you should get a receipt.
Joao
Joao
#6
BE Enthusiast
Joined: Sep 2007
Location: Woodbridge (x Tavira)
Posts: 817
Re: Condominium - setting up
The only think you should sign is the agreement you have with the condo company regarding the price and what they will do in the way of cleaning and extras in the apartment general areas
Joao
Joao
#7
Re: Condominium - setting up
I only pay my condo Maintenenace for the comunal areas to the condo.
I hire my own private property manager for all else.
She costs very little and does a better job.
I hire my own private property manager for all else.
She costs very little and does a better job.