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When you buy a Condo, aside you responsible to pay taxes and fees to the government, you must pay the maintenance cost and sinking fund to the juristic person.
Maintenance cost is for routine maintenance in the Condo, and is stated as a rate per square meter per month. Maintenance is typi-cally prepaid once annually in most buildings.
Sinking fund is a one-time payment made when one purchases a new Condo in Pattaya directly from the developer. The purpose of the fund is to provide a reserve for the building in the event that a major repair or replacement to the infrastructure or common area of the building is required in the future.
The Condominium Act stipulates that the maintenance fees must be in accordance to the ratio of space that you own. As such, it should be expressed as an amount per square metre. This amount is also registered under the Rules and By-law of the condominium at the relvent Land Office.
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