Apartment building maintenance fees
Upon purchasing an apartment, you are required to pay a maintenance fee as stipulated in Article 108 of the 2014 Housing Law. This fee is 2% of the apartment's value, is directly included in the purchase price, and is clearly specified in the sales contract.
Regulations for handing over the apartment building's maintenance fund: When an apartment building has a management board recognized by the State, the bank will transfer this account to the apartment building's management board.
It's advisable to thoroughly research all the fees involved in living in an apartment building before signing a purchase agreement (Illustrative image: Internet).
The bank will only disburse funds to the management board when the expenditure has all the required procedures as approved at the condominium owners' meeting... The bank may charge a service fee for managing the maintenance fund for condominiums.
Apartment service fees
The monthly apartment service fee is the cost your family needs to pay to the apartment management to cover expenses such as: cleaning and maintaining common areas, beautifying common areas; garbage collection, garden maintenance; planting, maintaining, caring for and replanting trees in the building's decorative areas. In addition, this fee also includes apartment management and security costs...
This fee will depend on the type of apartment you live in, such as a budget or luxury apartment, and also on the size of the apartment. The average monthly service fee in apartment buildings currently ranges from 5,000 VND to 20,000 VND/m2/month, depending on the type of apartment and the agreement between the developer and the buyer at the time of purchase.
Apartment management fees
This is the cost for all management and operation activities of an apartment building. This cost depends on the standard and quality of the apartment project, for example, luxury apartments, standard apartments, or affordable apartments. However, apartment management fees only range from 4,000 VND to 8,000 VND per square meter. The management fee is directly proportional to the selling price of the apartment you buy. For the same area, luxury apartments usually have much higher management fees than standard apartments.
Apartments come with various fees, so customers need to research them carefully before making a choice. (Illustrative image).
Each apartment project will have a different management fee, which must not exceed the state-regulated price ceiling. Exceptions require an initial agreement between the customer and the developer. However, in reality, there have been many disputes between customers and developers regarding this fee. Therefore, to avoid such disputes, apartment buyers should clearly inquire about the management fee before signing the contract.
Parking fees at apartment buildings
According to Clause 2, Article 106 of the 2014 Housing Law, the price of apartment building management and operation services does not include parking fees. Parking fees in apartment buildings are determined by the People's Committee of the province or centrally-governed city for each locality.
The average monthly parking fees would be as follows:
Monthly motorbike parking fees will range from approximately 10,000 VND to 150,000 VND per motorbike per month.
Parking fees for cars will range from 1,200,000 VND to 1,600,000 VND per car per month.
The total parking cost for a family of four with two motorbikes and one car would be around 2 million VND per month.
Electricity, water, and internet costs
This is the monthly living expense that you have to pay regardless of where you live, whether in a house or an apartment. This cost will depend on your family's usage according to government-regulated prices.
Internet and television costs in apartments range from 70,000 to 300,000 VND per month, depending on the service provider's policies and the family's usage needs.
According to surveys, the total cost of living in an apartment for a household ranges from approximately 1 million VND for affordable apartments to 3-4 million VND for high-end apartments. Of course, the cost varies depending on the apartment size, the number of vehicles, and the household's spending and usage habits.
Compiled by Pham Duy
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