Vinny17

I did a quick search on condo fees, but did not come up with any recent examples. I realize that fees can vary a great deal depending on the size and type of property, and amenities - but am looking for some examples of fees paid or what to expect. For example, could it be a percentage of the value of the unit, or could it be a multiple of the square footage / metres? I know a high rise with elevators, underground parking and a pool may be more expensive than a simple row townhouse complex, but I am trying to get an idea of how much to expect to pay. Paying condo fees rather than living in a freehold or fee-simple (not sure if those terms are used in PT) is one option in my retirement home search.

The second part of my search is related to how transparent and above board condo management companies are in the Algarve. Here condo fees are typically shown in real estate sales ads. Fees must be paid or the condo owner can get turfed and have their unit sold to collect fees. Just wondering how it all works.

Thank you

liveaboard

Bee suits on, lads!
Someone's kicked over a hornets nest!

EMR

As someone we know of found out , non payment of condo fees almost cost them a sale.
The buyers lawyer would not proceed until all debts had Benn cleared..
Many developments no longer use the term condo fees but call it an administration charge, thus avoiding any need to consult owners .

AliceCaroline

I wish they did put the condo fees on the real estate ads here but they don't. We had to ask estate agents to find out the fees for each property we viewed. They seemed to have the attitude that it wasn't an important consideration, but it is as the fees vary a lot.
Our management company are very good. They have a very good website where you can log in and fault things, you can even see which apartments have paid and which not.

Vinny17

Thanks to all for the responses. It sounds like I will need to do as mentioned above - ask each agent. Just a further question - when purchasing a condo, do you get to see the books on things like contingency fees on common areas, and how up to date owners are on their payments? I appreciate everyone's help on this.

nigel.b

I have a flat in Tavira Garden development (gardens, 2 pools etc). A 1-bed is about E800 a year (a bit more if your block has a lift). There is an AGM which is taken seriously. My guess is a 1- or 2-bed flat in a block with no added facilities should be around E300 a year.

EMR

We had a two bed in Albufeira and the " admin charge was 1800euros, " other developments we know of it can run into thousands.
There is no set standard .

tootlewagon

Vinny17

Tootlewagon, EMR, Nigel - this is great info, thank you! The fees sound reasonable compared to here, - I guess part of it is you don't pay for snow clearing

Sunseeker1st

We have a 2 bedroom link deyached at Rocha Brava, Alfanzinha, Carvoeiro, and fees are around 2,200 Euros but the complex has beautiful gardens, two swimming pools (one heated), tennis courts, gym, restaurant, cafe, shop, 24 hour Reception and a free bus service to town.

AliceCaroline

The fees vary massively.
We have a decent sized 2 bed, 2 bath apartment and pay €552 a year, but our communal area is quite small apart from a large swimming pool.
The pool and it's garden area are lovely and the cleaners & gardeners come once a week but that's all there is. No lifts or tennis courts ect.

Vinny17

Thanks again to all for the examples.