Puerto Vallarta, Mexico – Owning a condominium in Mexico comes with several responsibilities, the foremost being the obligation to pay maintenance fees, regardless of whether you reside on the property. Inmuebles24, a leading online real estate classifieds portal in Mexico, shares critical insights on this subject, emphasizing the importance of understanding and complying with the Condominium Property Law.
Condominium Property Law: An Overview
The Condominium Property Law in Mexico regulates the coexistence, security, and maintenance within housing complexes. According to Karla González Montoya, B2C Marketing Manager at Inmuebles24, “Being well-informed about these regulations and having the support of a real estate professional or allied company is essential to facilitate the process.”
Understanding some basic concepts of the Condominium Law is crucial for all property owners:
- Condominium Owner: A natural or legal person owning one or more private units under the condominium property regime.
- Condominium Administrator: An owner appointed as an administrator by the General Assembly.
- Professional Administrator: A natural or legal person with expertise in condominium administration, hired by the General Assembly.
- General Assembly: The maximum authority in decision-making within the condominium, comprising all condominium owners.
- Ordinary Fee: An amount agreed upon by the General Assembly to cover administration, maintenance, and common services expenses.
- Extraordinary Fee: An amount agreed upon for unforeseen or extraordinary expenses.
The Importance of Paying Dues
Ana Paula Sainz Fernández, a lawyer and legal advisor specializing in condominium matters, emphasizes that “the payment of fees is mandatory for the operation of the condominium, covering the maintenance of green areas, cleaning of pools, security, and other services.”
It is notable that 98.52% of Mexican condominiums lack formal administration. The establishment of maintenance quotas involves a structured process led by the General Assembly, which includes:
- Presentation of a breakdown of annual expenses.
- Proposal and approval of the maintenance fee by the General Assembly.
- Ensuring the approved fee is mandatory for all condominium owners, payable within the first 5 or 10 days of the month, as agreed, with penalties for late payments.
Consequences of Not Paying Fees
Failing to pay these fees has significant legal implications. “Not paying the fees makes you a delinquent condominium owner, which carries legal consequences. After six months of non-payment, the administrator is obligated to inform and hire a legal advisor to initiate the corresponding procedure, potentially culminating in the seizure of the private unit,” warns Sainz.
Compliance and Legal Variations
It is important to note that each federal entity in Mexico has its own legislation regarding condominium management and fee obligations. As a property owner, it is imperative to keep your payments up to date, regardless of whether the property is rented or on the market for sale. Seeking advice from experts in the real estate industry is strongly recommended to ensure compliance with all regulations and obligations.
In conclusion, paying condominium fees in Mexico is not just a matter of financial responsibility but a legal obligation that ensures the smooth operation and maintenance of the property. Staying informed and compliant with the Condominium Property Law, and seeking professional advice when needed, can help condominium owners avoid legal issues and contribute to a well-maintained and harmonious living environment.
Puerto Vallarta, Mexico - Owning a condominium in Mexico comes with several responsibilities, the foremost being the obligation to pay maintenance fees, regardless of whether you reside on the property. Inmuebles24, a leading online real estate classifieds portal in Mexico, shares critical insights on this subject, emphasizing the importance of understanding and complying with the Condominium Property Law.
