Answers to your Frequently Asked Questions
What is a Condominium Corporation?
It is a non-stock, non-profit corporation registered with the Securities and Exchange Commission (SEC) and Housing and Land Use Regulatory Board (HLURB) and it is managed by a Board of Directors through the Property Management Office (PMO). Its purpose is to maintain all common areas and govern the entire estate/ project in accordance with the Master Deed with Declaration of Restrictions, Articles of Incorporations and By-Laws. The individual owners of the condominium units are the stockholders of this corporation.
What is DPMC?
DMCI Homes Property Management Corporation or DPMC is a subsidiary of DMCI Homes. It is mandated to manage and operate the projects of DMCI Homes as well as provide professional services and support to its clients. DPMC shall be responsible for the general management and upkeep of these projects.
What is PMO?
Property Management Office or PMO is the entity through which the Condominium Corporation exercises its prerogatives. The Property Management Office provides services to the residents such as:
- Building & Landscape maintenance
- Coordination with Utility service providers for the residents (water, telephone, electricity, cable TV, etc.)
- Janitorial services for the cleanliness of the common areas.
- Assistance with regard to minor repairs & maintenance.
Share to theÂ COMMUNITY
Why do I have to pay for Association Dues?
The Association Dues are an assessment of the communityâ€™s regular operational expenses based on the operating budget and projected expenditures for the year. It is collected monthly and comprises your share of condominium expenses including but not limited to the following:
- Operational expenses of the Condominium Corporation
- Utility expenses for the common areas such as water and electricity
- Garbage collection fees
- Minor repair and maintenance of common areas, facilities, amenities and machineries
- Office expenses of the Property Management Office
- Permits and license fees paid to the government such as sanitary permits and fire safety inspection certificate, among others.
- Salaries and wages of employees of the Condominium Corporation (Property Manager, Property Management Staff, Security Personnel, Maintenance Staff, etc.)
- Pest control services in common areas
Non-payment of association dues may result to account delinquency. Once this happens, the Condominium Corporation shall have the right to cut-off or deny basic utilities as well as use of amenities and common areas for the defaulting unit and/or homeowner.
Payment of association dues automatically starts from the day your unit has been accepted or deemed accepted.
If you fail to inspect and accept the unit within thirty (30) days from the date of notice that the unit is ready for turnover, it shall be deemed that you have automatically accepted the unit.
What is Real Estate Property Tax (RPT)?
Real Estate Property Tax is a tax applied to local real estate based on the fair market value of the property. It is paid to the local government where the property is situated.
What is the difference of RPT on Unit and RPT on Common Areas?
Real Estate Property Tax (RPT) on unit is paid by the unit owner based on its floor area and the developer advances payment of RPT in behalf of its clients and buyers. DMCI Homes shall release the title to the buyer once the RPT along with the other requirements are settled. From then on, the buyer shall pay the RPT on unit directly to the land tax division of the local government.
Payment of RPT on your unit starts from the day your unit has been accepted or deemed accepted.
DMCI Homesâ€™ Credit and Collection Department sends a statement of account on your unitâ€™s RPT, fifteen (15) days after payment was made by DMCI Homes to the local government.
How to compute for my RPT on unit?
Assessed Value X Municipal rate on RPT = Basic Tax
On the other hand, Real Estate Property Tax (RPT) on common areas is an RPT applied to common areas and being shared by all unit owners in the condominium. The Condominium Corporation through PMO advances its payment to the local government and bills the residents quarterly as special assessment based on this computation:
Amount of Taxes due on the PropertyÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Cost per sqm = Â Amount of Taxes due on the Property /Â Total Saleable Area of the Project
Amount due per Unit = Cost per sqm X Total Area of the Unit* (Unit, Balcony, Drying Cages, Parking Slot)
Are there any other fees that I have to pay?
Yes. In case there are expenses that association dues could not fund, Condominium Corporation can collect additional fees in the form of Special Assessments.
What are Special Assessments and their coverage?
Special assessment fees are collected to cover additional expenses that Condominium Corporation deems important for the improvement and protection of the community. These include but are not limited to:
- Insurance Expenses: Expenses covering the insurance of the buildings, amenities and common areas of the project in case of risks and natural calamities such as fire, flood and earthquake.Â The insurance coverage initiated by the Condominium Corporation through the Property Management Office (PMO) covers the structure (building) and the facilities and equipment included therein.
For buyers who have their units financed via bank loan, or owners who use their units as collateral for credit, financing or mortgage purposes, an endorsement letter or certification from the insurer of the property may be requested through the PMO.
Unit owners/residents are responsible for insuring their personal belongingsâ€”that is, furniture, fixtures, equipment appliances, personal effects and everything inside the unit.
Computation of insurance cost per household:
Cost per sqm =Â Amount of Total Insurance Expense of the Property /Â Total Saleable Area of the Building
Amount due per Unit = Cost per sqm X Total Area of the Unit * (Unit, Balcony, Drying Cages, Parking Slot)
- Major repair and Maintenance: Major repair and maintenance covering the buildings, amenities and common areas of the project such as repainting of buildings, major repairs on structures and projectâ€™s equipment like elevators and others.
- Purchasing of new equipment: If the Condominium Corporation deems it is necessary to purchase new equipment for the community like additional CCTVs etc., this will be treated as a special assessment.
- Special Services: Special services like termite treatment and the like may also be billed as a special assessment.Â Note that these special services are not part of the association dues as these services depend on necessity. E.g. termite treatment for the entire property, which may be done every 2 years, is a special service. On the other hand, pest control on all common areas conducted monthly by your PMO is a regular service and is therefore included in your association dues.
Special assessments may be collected monthly, quarterly, or annually depending on the project and the nature of expenses. RPT and property insurance is being paid yearly, but could be billed to unit owners on different payment terms to provide flexibility to unit owners.
Does DMCI Homes provide warranty to my unit?
Yes. Your unit is backed by two (2) years warranty on workmanship from the day your unit has been accepted or deemed accepted. This covers minor repairs like wall and floor cracks. However, repair of items (lockset, faucet, etc.) affected by normal wear and tear, misuse or termite infestation are excluded in the warranty. Upgrades, improvements and other personal modifications to your unit may only be allowed after the official acceptance, approval of design/drawing and payment of construction bond. Please take note that certain warranties may be voided by alterations.
To whom shall I report if my unit needs repair?
If the unit has already been turned over, requests for repairs must be coursed through the PMO. If the concern is minor, this can be fixed by the PMO. In case it was assessed to be a major concern, the PMO shall escalate the report to Head Officeâ€™s Design and Construction group. Duration of repairs depend on the kind of damage of the unit.
Living in my Community
Since I have already bought my unit, can I add improvements to it?
You may design your unit based on your preference and style. However, since your unit is connected with other units, major alterations must be approved by DMCI Homes (e.g. walls, ceilings, toilet and bath) as these may affect other units.
Moreover, conduct inside your unit and the community is bounded by House Rules set by DMCI Homes through PMO, to protect the lives and properties of the entire community.
Where can I find these house rules?
During turnover, a turnover kit is given to unit owners and this includes a Residentâ€™s Manual. This manual contains the basic house rules in your community. However, these rules may be amended by the PMO and/or Board of Directors of the project when deemed necessary, and shall be conveyed to all residents through a memorandum.
Can we organize our own community events?
Yes. Residents are encouraged to conduct their own events such as Christmas and Halloween Parties in coordination with the PMO.
Some community events are also initiated by DMCI Homes.
Can we form our own Homeowners Organization?
All community organizations must be accredited by the Condominium Corporation through the PMO. DMCI Homes encourages its residents to form its own Community Council with the PMO, to serve as a recommending body to Condominium Corporationâ€™s Board of Directors.