For many customers, buying a property can be a time of tension, after all, it involves large investments. That is why the broker who manages to capture this feeling and transmit confidence and authority on the subject is much more likely to close good deals. Learn how to evaluate the condo fee.
Mastering the characteristics that define a property allows the broker to make consultative sales, either when selecting the options most compatible with the buyer’s desire, or when explaining what needs to be considered when choosing.
The condominium fee, for example, does not always receive due attention, and understanding how it works can be a great differentiator for the realtor’s service. If you want to stay on top of the subject, check out our tips.
Understand the calculation of the condominium fee
The condominium fee can be calculated by apportioning expenses or fixed fee. In the first, the total of the previous month’s costs is divided by the total of apartments, even if one of them is empty.
Elements that are charged individually, such as water and gas, for example, are not included in the bill, as well as extra fees for improvements to the building.
In the case of the fixed rate, the monthly expenses broken down are provisioned for 12 months with an index that can correct inflation. Construction and improvement costs may or may not be included in this calculation, as well as an amount to compose an emergency cash fund.
Assess the financial health of the condominium
This emergency cash fund, in fact, is a guarantee that the financial health of the condominium is good and that there is an efficient management, be it the elected liquidator or an outsourced administrator who has been hired.
Acquiring a property without assessing this issue can offer unexpected problems and expenses in the short term and leave the buyer dissatisfied with the service of the broker, who did not pay attention to this fact when offering the apartment as an option.
Consider the items that are paid with the charge
It is also necessary to consider what the items that make up the collection are. Condominiums with 24-hour concierge, elevators and a large maintenance team will have higher monthly costs. Cleaning materials, office items, preventive and emergency maintenance, as well as contracted professionals are also included in the calculation.
Another point is that smaller buildings and condominiums have a harder time setting up a comfortable financial reserve, but their costs are usually lower.
Look for options that prioritize cost reduction
It is also possible to identify real estate options that aim to reduce fixed costs, such as buildings that reuse rainwater, capture solar energy, among others.
In addition to reducing costs and decreasing the condominium fee, condominium administrations and economic solutions value the property, making the resale price much better than conventional ones.
A condominium fee may not always be a reason for a property to stop being sold. If it is being well applied for the management of the property structure and even promoting improvements, it can be an important tool to ensure the valuation of the property.
Understanding this relationship and explaining it to those interested in buying property is not always easy. So, to stay on top of good arguments and sales strategies in the real estate market, like and follow our Facebook page.