Management fees in new apartment and condominium developments: They should not be profit-driven
Against the backdrop of a strongly growing property market, management fees are always one of the top concerns for customers before deciding where to settle. In practice, the collection of management fees is a practical activity to maintain upkeep, protect the environment and create quality living spaces for the community. However, to build a sustainable urban area, the management approach at Phú Mỹ Hưng has always maintained that fee collection should not be driven by commercial objectives.
The “cost-recovery” philosophy for residents’ benefit
One of the reasons many customers decide to buy a home in Phú Mỹ Hưng is the transparency and dedication of the developer in after-sales service. The Phu My Hung Development Corporation does not regard management fees as a source of profit. Instead, fees are carefully calculated on a “cost-recovery” basis in order to serve residents in the best possible way.
In the initial phase, when fewer than 50% of residents have moved in, the developer will manage, collect and disburse fees on behalf of residents to ensure that quality of living is not interrupted. This is Phú Mỹ Hưng’s commitment to accompanying customers from their first days after receiving their homes.
The convenience of the “all-inclusive” fee model
Many customers often hesitate when comparing apartment management fees at Phú Mỹ Hưng with those elsewhere, as they mistakenly think this fee covers only a few basic services such as cleaning or rubbish collection. In reality, however, the management fee here is charged as a package covering a wide range of premium services.
Instead of having to pay separately for each service such as monthly parking, lift charges, swimming pool admission and the gym, or spending time travelling to pay bills, residents here need only make a single payment. This model not only offers convenience but also helps residents save compared with adding up the separate costs. Specifically, the management fee is used for items such as:
- Ensuring 24/7 area security.
- Maintaining the landscape and caring for lush greenery.
- Public cleaning and waste collection.
- Lighting and maintenance of public amenities.
This fee is calculated fairly based on owned floor area and the actual level of amenities in each building.
Residents’ right to control their living space
The difference that helps Phú Mỹ Hưng win over even the most demanding customers is the mechanism that lets residents take charge of the management budget themselves. When more than 50% of residents have moved into a neighbourhood, a Self-Management Board (BTQ) is established through democratic election.
At that point, the developer hands over the entire management fee to the BTQ so that residents can decide for themselves on all expenditure serving the neighbourhood. The BTQ comprises 5 members, of whom 3 are elected by the residents themselves to act as head and decide on finances. The Phú Mỹ Hưng representative plays only a supporting and advisory role, listening to residents’ wishes without interfering in income and expenditure.
This is the modern, civilised management model applied in developed countries around the world, replacing the old way of living of “paying wherever you use”, which caused much inconvenience and lacked stability.
Choosing to buy a home in Phú Mỹ Hưng is not only about owning a valuable property, but also about investing in a model living environment where residents’ interests come first through a transparent and not-for-profit management model
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PHU MY HUNG REAL ESTATE SALES CENTRE
Hotline: 0938 448 427
Website: phumyhungcenter.com
Address: 801 Nguyen Van Linh, Tan My Ward, Ho Chi Minh City
