Central Bank nearly broke !

[on the brink]

The building administrator has started legal proceedings to collect unpaid expenses. Until the matter is resolved, the rest of the owners will have to make up what the morose owners don't pay.

I just learned that this is the way "consorcios" work. Tough luck....!

 

[sts7049]

ah, argentina. the land of lack of personal responsibility, and instead putting the burden on others.

 

[on the brink]

I think @on the brink is speculating the extra expenses are for this reason? Does it specifically state it one the expenses that this extra cost is because someone else is not paying?

That's what the administrator told me - there's not enough money on the till, and the expense-paying owners must replenish it. Happening all over the place, apparently.

 

[Rich One]

A new developrment on Wealth Tax proposed by the Congress ?
Angry farmers and soy bean producers, have decided to close their accounts with Banco Credicop , that is partilaly owned ? by Diputado Carlos Heller . As an act of vengeance against Heller who is the creator and promoter in Congress of the New "one time "Wealth Tax".

Impuesto a la riqueza: la "venganza" que impulsan productores contra Carlos Heller

Impuesto a la riqueza: la "venganza" que impulsan productores contra Carlos Heller

www.lanacion.com.ar

 

[Rich One]

That's what the administrator told me - there's not enough money on the till, and the expense-paying owners must replenish it. Happening all over the place, apparently.

That is how it works the consorcio has to continue paying fixed expenses and salaries , etc..

 

[antipodean]

A new developrment on Wealth Tax proposed by the Congress ?
Angry farmers and soy bean producers, have decided to close their accounts with Banco Credicop , that is partilaly owned ? by Diputado Carlos Heller . As an act of vengeance against Heller who is the creator and promoter in Congress of the New "one time "Wealth Tax".

Impuesto a la riqueza: la "venganza" que impulsan productores contra Carlos Heller

Impuesto a la riqueza: la "venganza" que impulsan productores contra Carlos Heller

www.lanacion.com.ar

I didn’t see if it was confirmed that it would indeed apply to those with assets in Argentina as proposed - even if they are non-residents or foreigners. A dangerous precedent regarding residency based tax rules and for foreign investors etc if it does go through.

 

[garryl]

Can you please explain how the non paying tenant affects the rate of the paying tenants???

Example:

There are 10 units in a building, each unit has a rent amount of $1K per month = $10K revenue per month for the complex.

One tenant stops paying, are the other 9 tenants paying their $1K per month plus $111.11 extra to make up for the non paying tenant?

If my example is correct, how can this be? Was there something written into a rental contract that was agreed to in the fine print? Other than that, I can see no precedent for paying extra. Please explain this to me. The concept is not making any sense!

I was not tenant and I was the owner. So I was responsible to pay the extra. And if tenant is in long teem rental, usually the tenant is responsible for all the expense. In the rental agreement, there should be a clause saying tenant pays monthly expense, except for the special assessment, like the cost to replace the front door or security camera or big paint job. In this case, owner, not the tenant pays the special assessment. The extra amount caused by some unit not paying, should not be part of the tenant responsibility. Other people cover the difference, it's really a loan to bridge the future payment. Eventually, that money will come back to the owner. So it's not fair for tenant to pay. On the surface, it's the expense, but it's owner responsibility to cover it. The tenant and owner should discuss about this.
If the lease says, tenant pays all expense except special assessment, then it's important for tenant and owner to sit down to talk about this.

 

[antipodean]

I was not tenant and I was the owner. So I was responsible to pay the extra. And if tenant is in long teem rental, usually the tenant is responsible for all the expense. In the rental agreement, there should be a clause saying tenant pays monthly expense, except for the special assessment, like the cost to replace the front door or security camera or big paint job. In this case, owner, not the tenant pays the special assessment. The extra amount caused by some unit not paying, should not be part of the tenant responsibility. Other people cover the difference, it's really a loan to bridge the future payment. Eventually, that money will come back to the owner. So it's not fair for tenant to pay. On the surface, it's the expense, but it's owner responsibility to cover it. The tenant and owner should discuss about this.
If the lease says, tenant pays all expense except special assessment, then it's important for tenant and owner to sit down to talk about this.

I just got my expenses today and was looking at the breakdown. Usually I just pay it and never look at the details. However I note there are a few neighbors who are quite far behind in payments. How / where can I see if everyone else is paying more to make up the difference? There is nothing in the “extraordinary” expenses line in the breakdown.

 

[jeff1234]

I just got my expenses today and was looking at the breakdown. Usually I just pay it and never look at the details. However I note there are a few neighbors who are quite far behind in payments. How / where can I see if everyone else is paying more to make up the difference? There is nothing in the “extraordinary” expenses line in the breakdown.

During the 2008 financial crisis in the US there were many condo building in this sort of trouble. People learned the importance of examining the financial health of the building before purchasing an apartment as well as the sometimes intricate and counter-intuitive laws concerning defaults of common charges.

 

[Rich One]

Consorcios and Central Bank well this is a chit chat as some want to have...!!

I just got my expenses today and was looking at the breakdown. Usually I just pay it and never look at the details. However I note there are a few neighbors who are quite far behind in payments. How / where can I see if everyone else is paying more to make up the difference? There is nothing in the “extraordinary” expenses line in the breakdown.

Tenants may be way behing in Expensas ?, means nothing , even with the judge printed order, evictions are suspended during the Quarentine until further notice..?