Non-Dues Income: Rental of Common Areas (Roof, Billboard, Exterior)
The way to reduce fees or strengthen the apartment vault is not only in saving; sometimes it is necessary to evaluate the available potential. Options such as installing a base station on the roof of an apartment building, advertising on the outside or renting an empty janitor's apartment are a serious income gate. So, how are these processes carried out legally?
Attention: Lease contracts concluded only by decision of the board of directors or by a plurality of votes can be canceled with the objection of a single owner.
Roof: Can be rented for base stations (Legal processes and health regulations are sensitive).
Empty Janitor's Apartment: If the building attendant is not employed, this apartment can be rented.
Garden or Parking: Can be evaluated for events or outdoor use at certain times.
Taxation: These incomes are actually the personal income of the floor owners. If the amount of rent obtained exceeds the legal annual limit, the owners of the floors may be required to report this on their income tax returns.
The administrator cannot sign contracts on his own, unless he is authorized by the general assembly.
Process: A decision is made at the general meeting, the manager is authorized to sign a contract, and the income received is credited to the bank account of the apartment.
Solution: By opening the “Additional Income” category through Biyos, you can report rent payments independently of dues, transparently informing the resident about how this additional income is reflected in his dues.
Using common areas efficiently is a professional management vision. But if you say “let our peace not escape,” you must necessarily go on the road with the consent of all the owners. A properly planned rental can make your apartment cover large expenses, such as elevator renovations or painting on its own.
1. Unanimity or Plurality of Votes?
This is where managers make the most mistakes. According to the Law on Condominium, the unanimity of the owners of the floors is necessary for the rental or use of common areas other than their intended purpose (billboard, base station, etc.).Attention: Lease contracts concluded only by decision of the board of directors or by a plurality of votes can be canceled with the objection of a single owner.
2. Which areas can be rented?
Exterior: Advertising is a huge source of income, especially in buildings on busy streets.Roof: Can be rented for base stations (Legal processes and health regulations are sensitive).
Empty Janitor's Apartment: If the building attendant is not employed, this apartment can be rented.
Garden or Parking: Can be evaluated for events or outdoor use at certain times.
3. Who is the Income Earned?
Rental income from common areas is used directly for the purpose of “meeting common expenses”.Taxation: These incomes are actually the personal income of the floor owners. If the amount of rent obtained exceeds the legal annual limit, the owners of the floors may be required to report this on their income tax returns.
4. What is the role of the manager in hiring?
The administrator cannot sign contracts on his own, unless he is authorized by the general assembly. Process: A decision is made at the general meeting, the manager is authorized to sign a contract, and the income received is credited to the bank account of the apartment.
5. Supplemental Revenue Tracking with Biyos
The pursuit of such additional income can be confused with the payment of contributions.Solution: By opening the “Additional Income” category through Biyos, you can report rent payments independently of dues, transparently informing the resident about how this additional income is reflected in his dues.
Using common areas efficiently is a professional management vision. But if you say “let our peace not escape,” you must necessarily go on the road with the consent of all the owners. A properly planned rental can make your apartment cover large expenses, such as elevator renovations or painting on its own.
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General
- Apartment Meeting Call Example
- Procedures for a Condominium Title Deed
- Rules to be followed in the apartment
- Apartment Noise Regulation
- What Are The Notebooks That Apartments And Sites Have To Keep?
- Tenant Early Eviction Notice Example
- Sample Petitions and Documents Related to the Apartment
- I became an apartment manager for the first time. What should I pay attention to?
- What to Know About the Building Attendant
- Building Attendant (Doorman) Employment Contract and Duties