Law Society Building Agreement 2001

If you own a self-contained home, it`s up to you to decide whether to maintain it or not. This usually does not lead to a problem as if there is a hole in the roof, they are the only one to get wet. Similarly, you can choose whether or not to insure the house. In the case of a dwelling or similar development where you only own part of a building that has been converted, it does not work. If the roof is not repaired, not only the apartment just below, but also the one on the lower floors (sooner or later) will feel the effects. For this reason, it has been recognized that it is in everyone`s interest to adopt regulations that ensure and undertake the basic substance of the building and that all owners pay the price. Thus, in residential areas, the responsibility for the maintenance of the roof, exterior walls, structural parts of the building, as well as elevators, parking lots, corridors, halls, gardens – in short, the parts of the development other than the housing themselves – is placed in a “management company”. The members of the management company are all homeowners and will adopt and approve a budget, collect a service fee and use the funds received for the insurance and maintenance of the building for the benefit of the owners. Many management companies (especially in the case of major development) employ a “management agent”, a professional company that provides (for a fee) house management services to take care of the day-to-day operation and organize meetings of the management company, etc. Initially, the management companies limited themselves to residential areas, then this installation was taken over for a whole series of neighborhoods, sometimes the planning authority insisted that it do so.

In the case of houses, the owners will usually maintain and insure their own homes and the management company will maintain outdoor landscaped spaces, roads, pedestrian paths, street lighting, etc. After a period of little or no activity, developers are increasingly interested in the construction and sale of new houses and apartments. Attractions when buying a newly built residence are (or at least should be): - Designed and built to current standards, so it will be more energy efficient and less expensive;  – With the exception of furnishing and decoration, renovation and repair expenses should not be significant; - The buyer can benefit from the “purchase assistance” incentives; - The buyer may (to some extent) be able to choose surfaces (and, in some cases, “extras”) to adjust the property; - In the event of a problem with the work done, the buyer can contact the developer or use an insurance system (such as Homebond or Premier Guarantee) to process it. 2 (c): If what is built is in a minor way in consultation with the plans, the agreement will not be cancelled. When the sales contract and the construction contract are combined or intertwined, it usually means that the closing date of the country/airspace element is triggered or linked to the completion of the construction work and that, therefore, the closing date is not a fixed date on which the parties have agreed. . . .