Because of the advantages of leaving in a gated environment many are failing victim of heavy charges in facility management, developmental levy and so on.
Before you buy a property in a gated community especially privately owned estates, ensure you get a contract documents from the company that clearly stipulates all the charges especially:
1. Developmental Levy and
2. Estate/Facility management cost.
I have realised in the cause of doing my job that many of these private estates will not disclose these charges to you until after you have bought into their estates and develop your property.
These charges varies and can be between 700,000 to 1,500,000 yearly or even more. And when you default or can't pay on time, you are harassed by the management.
Many home owners are leaving like tenants in their own houses due to heavy charges they pay monthly and yearly as Facility Management cost and the rest.
There are several cases like this in court today as a result of these lapses. So ask questions and get written agreement from the estate owner.
Furthermore, If these charges are a concern to you and you want to leave in a gated environment because of the advantages especially security factor, you can consider Community Development Association estates (CDA) to avoid the above concerns. With CDA, you provide and maintain your own sewage system, water system and have full control on your electricity charges.
Many CDAs are gated communities with good security arrangements. CDAs provide the opportunity to structure your yearly expenditure on facility management based on your income. Because in CDAs, you manage your own facilities excluding security that is joint. When facilities like roads and drainages are to be constructed or maintained, the CDAs Levy members and members are landlords like you.
Note: you must make sure you buy properties with individual C of O or Governor' Consent. Also, ensure you do your search through a competent lawyer like the one we have in the house (omoonile lawyer) before you buy one.
For questions and many more, contact McDEN Building Construction via these links:
Tel/WhatsApp: 08091887673, 07056821490
Email: [email protected]
We are into: Real Estate, Building Construction and Management. Architectural Design, 3D and Building Estimates (BOQ).
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