Property Management

Oceanic Management Co. Ltd., a long term industry leader, have been appointed as the property managers of Kata Ocean View Condominium. As managers, they have two main roles to fulfil; To manage all day to day operations of the estate with regard to the common area, ensuring first class property services are delivered to each owner; To manage rental apartments on behalf of those owners who would like to generate rental income from their apartment units.

Common Area Management

As property managers, Oceanic Management Co., Ltd. will be responsible for managing all aspects of the common area. A summary of these responsibilities are provided below.

• Management Office, Estate Manager, Technician and all associated ancillary costs
  
• Cleaning of common areas (stairways, garages, access road, roof and pool)
  
• Maintenance and irrigation of all common areas and gardens
•  Insurance of the common area which shall include the structure of each apartment block
  
• 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
• Empty and clean septic tank.

Oceanic Management Co. Ltd. will work with the Owners to ensure that Kata Ocean View Condominium is managed transparently and effectively, ensuring that the investment made by each Owner is protected and safeguarded.

Common Area Management Fee Formula

Each Owner will contribute 60THB per apartment square meter towards the common area expenses, payable quarterly in advance. The common area management fee will rise 3% each year, on average.

Sinking Fund

Each Owner will pay an initial amount of 60,000 THB per apartment into a common area sinking fund to be used for any unforeseen eventualities and periodical  repairs outside of the operating budget, e.g. repainting of the external walls of the apartment blocks, roof repairs, etc.

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 these services.