CONDOMINIUM CORPORATION

Condominium Corporation is a non-stock non-profit Corporation registered with the Securities and Exchange Commission and managed by a Board of Directors through the Property Management Office. Its purpose is to maintain all common areas and to govern the entire estate/project in accordance with the Master Deed with Declaration of Restrictions, Articles of Incorporations and By- Laws. The individual owners of the condominium units are the stockholders of this corporation. 

DMCI HOMES PROPERTY MANAGEMENT CORPORATION (DPMC)

DMCI Homes Property Management Corporation or DPMC is a subsidiary of DMCI Homes. It is mandated to manage and operate the projects of DMCI Homes, as well as to provide the professional services and support to its clients. DPMC shall be responsible for the general management of these projects. 

PROPERTY MANAGEMENT OFFICE

Property Management Office is the entity through which the Condominium Corporation exercises its prerogatives to DMCI Homes projects. 

PROPERTY MANAGEMENT OFFICE RESPONSIBILITIES AND SERVICES

DMCI Homes Property Management Corporation (DPMC), through its Property Management Office (PMO) shall be responsible for the general management of the projects by providing the following services:

ASSOCIATION DUES

Association Dues are assessment of the community’s regular operational expenses based on the operating budget and projected expenditures for the year. This is collected monthly and comprises the unit owner’s share of condominium expenses including, but not limited to, the following:

  1. Operational expenses of the Condominium Corporation 
  2. Garbage collection fees
  3. Minor repair and maintenance of common area facilities, amenities and machineries
  4. Office expenses of the Property Management Office
  5. Permits and license fees paid to the government such as sanitary permits, fire safety inspection certificate, Real Property Tax for common areas, among others
  6. Salaries and professional fees of employees of the Condominium Corporation and Service Providers (Property Manager, Property Management Staff, Security Personnel, housekeeping, etc.) 
  7. Pest control services in common areas

Also part of the Association Dues but billed separately are utility expenses for the common areas such as water and electricity.

The Property Management Office (PMO) is largely funded by the Association Dues paid by the condominium residents.

Payment of Association Dues will automatically start from the day your unit (including service area and parking area) has been accepted or deemed accepted. Corresponding penalties and interests will be imposed on late payments. 

REAL ESTATE PROPERTY TAX ON UNIT

Real Estate Property Tax (RPT) on unit, parking slot, house and lot is paid by the unit owner based on its floor/lot area. The developer advances payment of RPT in behalf of its clients and buyers. DMCI Homes shall release the title to the buyer once the RPT on unit along with other requirements are settled. The buyer shall then pay the RPT of the unit/parking slot/house and lot directly to the local government.

Payment of RPT on your unit/parking slot/house and lot starts from the day your unit has been accepted or deemed accepted. DMCI Homes’ Credit and Collection Department sends a statement of account for your unit’s unpaid RPT. Advance RPT billings will also be sent three (3) months before actual payment of DMCI Homes. You will be given a grace period to settle the billing.

Basis for computation of real estate property tax: 

BASIC TAX = ASSESSED VALUE X MUNICIPAL RATE ON RPT

Please note that RPT of unit is different from RPT of common areas. Refer to Special Assessment Fees for more details.

SPECIAL ASSESSMENT FEES

Special assessment fees are collected to cover additional expenses that are not part of Association Dues’ expenditures or those costs that Condominium Corporation deems important for the improvement of the community such as the following:

  1. Insurance Expenses on Common Areas
    1. Expenses covering the insurance of the buildings, amenities and common areas of the project in case of risks and natural calamities such as fire, flood and earthquake.
    2. The insurance coverage initiated by the Condominium Corporation through the Property Management Office (PMO) covers the structure (building), the facilities and the equipment included therein.
    3. For buyers who have their units financed via a bank loan, or owners who use their units as collateral for credit, financing or mortgage purposes, an endorsement letter or certification from the insurer of the property may be requested through the Property Management Office (PMO).
    4. Unit owners/residents are responsible for insuring their personal belongings – that is, furniture, fixtures, equipment, appliances, personal effects and everything inside the unit.
  2. Real Estate Property Tax on Common Areas
    • Real Estate Property Tax on Common Areas is tax applied to local real estate based on the fair market value of the property. This Real Estate Property Tax on Common Areas is shared by all unit owners in the condominium.
    • Real Estate Property Tax on Common Areas is billed annually.
  3. Major Repair and Maintenance
    • Major repair and maintenance covering the buildings, amenities and common areas of the project such as repainting of buildings, major repairs on structures and project’s equipment like elevators and others.
  4. Purchasing of new equipment
    • If the Condominium Corporation deems it is necessary to purchase new equipment for the community like additional CCTVs etc., this will be treated as a special assessment.
  5. Special Services
    • Special services like termite treatment that Condominium Corporation finds necessary to maintain the entire property may also be billed as special assessment.
    • Basis for computation of special assessment fees on common areas per unit: 
COST PER SQM =  TOTAL EXPENSES OF THE PROPERTY / TOTAL PROJECT SALEABLE AREA (SQM)
AMOUNT DUE PER UNIT =  COST PER SQM  X  TOTAL AREA OF UNIT*
* unit includes balcony, service area, and parking

LEASING OF UNITS

DMCI Homes Leasing Services (DHLS) is the official property leasing, investment and management unit of DMCI Homes. It offers management services and residential properties for rent or for lease.

To enrol your unit at DMCI Homes Leasing Services, you can call our Leasing Department. You will be asked to fill-out and sign a Lessor Information Sheet and Authority to Lease, which can be obtained from Leasing Services Department office or unit owners can download the said documents at leasing.dmcihomes.com.

After submitting the required documents, Leasing Department will conduct an inspection and inventory checking of your unit. An Acceptance Certificate will be given to you after you surrender a duplicate of your complete unit keys.

Your unit will now be included in the leasing database and will be leased out based on our standard Leasing process.