>>Property management
      Common Area Management

As property managers, Residence Park Property be responsible for managing all aspects of the common area. A summary of which is provided below.

• 24 hour on site security

• Maintenance and irrigation of all common area gardening.

• Cleaning of all the common areas i.e. stairways, paths, Management  office.

• Cleaning of the common area swimming pool including chemicals.

• Management Office, Estate Manager, Technician and all associated ancillary costs.

• Insurance of the common area which shall include the structure of each building.

• Electricity and water supply to the common area up to the point of connection to a dwelling.

• Refuse collection.

• Pest control of common area.

• Accounting including annual auditing.

Upon the inauguration of  Bangtao Tropical Residence Owners Committee, who will act as the owners representatives, Residence Park Property  will report directly to the Owners Committee on a monthly basis providing monthly financial statements covering all relevant expenses together with regular reporting on various issues concerning the management of the common area.

Residence Park Property will work with the Owners Committee to ensure Bangtao Tropical Residence is managed transparently and effectively, ensuring that the investment made by each Owner is protected and enhanced.

a)  Common Area Management Fee

Each Owner shall pay in advance, an equal contribution towards the common area expenses as listed above.(40 Baht/sq.m./month)

b)  Sinking Fund

Each Owner will pay an initial amount into a common area sinking fund which will be used for any unforeseen  eventualities together with periodic repairs outside the operating budget e.g. repainting of the external walls of the apartment blocks, pool pump replacement, etc.

The initial amount to be paid is based on the units each owner occupies. Such that for Studio and One Bedroom units THB 40,000, Deluxe A units THB 80,000, Penthouse Deluxe A units THB 84,000, Deluxe Extra A and Penthouse Deluxe Extra A units THB 90,000, Deluxe Pool A units THB 94,000, Deluxe Pool Extra A THB 103,200 and all the occupants of unit building B and C will pay THB 124,000 respectively.

c)  Utilities and Owners Fund

Each Owner will be responsible for the cost of any utilities in respect to their own private property i.e. electricity, water, telephone, etc. and will be invoiced monthly for the same.

As transferring monies on a monthly basis can be both tedious and costly, owners will be able to set up an owner fund in which they can pay a lump sum and from which we will deduct all necessary expenses each month, providing statements and informing owners as and when the fund needs to be topped up.