First, it is advised to reassess the budget, more or less in the middle of the year, to find out if there are increases in expenses, such as excessive consumption of water or electricity, non-payment of fees per part some condominiums, or unexpected arrangements. Search for Syndicated loan (กู้ ร่วม ซื้อ บ้าน which is the term in Thai) to acquire a condo.

You should check all expenses carefully to find out where the budget slipped the most. If the cause is the water or electricity bill, identify the reason and take preventive measures. For example, in the case of an unknown water break, it starts the repair, in the case of waste on the part of the owners, such as washing cars in the garage, it talks to them and sensitizes them, appealing to the “wallet.”

If the problem is an unexpected expense, it calls an extraordinary meeting and tries to readjust the value of the condominium fees to balance the accounts. However, if you conclude that the outstanding fees are weighing more on the budget, immediately send a letter to the offender/responsor requesting their regularization.

It’s a good idea to alert your neighbors to the damage resulting from not fulfilling their duties. And remember that the greater the amount owed, the more difficult it will be for you to recover. If necessary, apply the penalties (if they are provided for in the condominium regulations and after the assembly has duly approved) before resorting to other means, such as judicial ones.

It must be made clear that effective financial management is essential for the proper functioning of the condominium and, ultimately, the enhancement of each person’s assets.

What Is The Best Option Then When Taking A Decision?

The decision will be up to the condominium administration. It depends on the nature of the tasks to be performed and their frequency, which will also be related to the characteristics of the space.