Foreigners and Thai people alike enjoy living in condos in Thailand due to their benefits and amenities, such as on-site beauty salons, swimming pools, and gyms. However, running a condominium in Thailand takes a lot of work and skill, so a Juristic Person is vital to the property’s management.
A Juristic Person is a non-human legal entity that serves as a management company with specific duties and rights recognised by Thai law. Many condos in Thailand apply the Juristic Person title to property management companies that work with the property’s Management Committee to make decisions about the condominium’s operation.
There is much that goes into being a Juristic Person or legal entity for a condo, which you can learn about below.
What Are the Duties of a Juristic Person?
A Juristic Person is responsible for overseeing the condo’s common assets or the communal spaces shared by the property’s residents and guests. The legal entity or company will also control the budget and plan expenses.
The purpose of a Juristic Person is to create a harmonious living environment while preserving the state of the common assets for long-term use. The entity may also plan events to please residents and provide everyone with essential information about the property.
How the Legal Entity Funds Its Management Efforts
Another responsibility of the Juristic Person is to implement and collect common area fees or maintenance fees from the condo’s residents. Those monies fund all the work that goes into the property to make it a worthwhile living area. Common area fees can fall under annual, quarterly, or monthly payments, and each unit’s square metres will determine the amounts its residents will pay.
How a Juristic Person Manages Condos
Proper condo management requires the Juristic Person to perform many duties, which often include:
● Building Management: Managing the building properly ensures that the common areas constantly stay in excellent condition to create a lovely ambience for condo co-owners and residents.
● Building Systems Maintenance: The building’s core systems like the lift, lighting, tap water, and wastewater treatment systems ensure that the property is fully functional to keep residents comfortable and safe.
● Surrounds Maintenance: Trees, roads, footpaths, fences, and outdoor lighting are some of the surrounds that make the condo’s exterior look enticing. The Juristic Person is responsible for overseeing the surrounds maintenance.
● Fire Safety and Emergency Management: Fires due to accidents, natural disasters, negligence, and electrical problems can have devastating effects on people’s lives and assets. A Juristic Person can prevent catastrophes by properly maintaining spaces and scheduling routine inspections to eliminate hazards.
● Waste Management: Organising the waste-handling process for a condo requires coordination with recycling businesses and local authorities, which the Juristic Person will handle.
The Living Management Philosophy
The duties and obligations of a Juristic Person for Thai condominiums are vast and varied. However, successfully managing a property usually includes the living management approach. It’s a philosophy that management teams can achieve happiness for residents in any community by being attentive and providing customised care.
Every condo will have a different variety of co-owners, residents, and building needs. A Juristic Person that can mobilise its skills and experience to meet all living, regulatory, and building maintenance needs will create a thriving environment