Condominium Apartments For Sale In Uganda
What Is Condominium Apartment?
A condominium is an ownership structure whereby a building is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. The term can be applied to the building or complex itself as well as each individual unit within.
What to know about living in a condominium apartments In Uganda?
HOA Dues Cover Certain Expenses.
Your Neighbor Relationships are Long-Term.
Remodels Must Be Approved.
You’re Off the Hook for Many Repairs.
Renting Out Your Property May Be a No-Go.
Look Out for Special Assessments.
Mortgage Rates May Be Higher.
What are the disadvantages of owning a condominium apartments In Uganda?
You may not be able to decide when maintenance and repairs get done.
You may have to pay for amenities that you might never or rarely use.
Less privacy in some condominium units and possibly more noise.
Possibility of special assessment charges for unexpected repairs.
What do condominium apartments provide for its tenants In Uganda?
Many condo or apartment complexes offer features like gym access, a pool or extra security. Maintenance: Condo owners are responsible for any maintenance or repairs needed within their unit. This is true not only if they’re living there themselves, but also if they’re renting out the unit to a tenant.
What am I expected to do as an owner of condominium apartments In Uganda?
As an owner within a condo corporation you are part of a shared ownership. This shared ownership requires a governance structure that involves an elected board of directors to manage the operations. It is important to be actively engaged in your condo community and participate in activities that will help ensure it is governed and operating effectively. This participation includes:
- Attending and voting at owners’ meetings;
- Electing qualified individuals to the board of directors and/or standing for election on the board;
- Reviewing and providing feedback on the materials provided by the condo corporation including information certificates, financial statements, the auditor’s report, reserve fund studies, and plans for future funding of the reserve fund;
- Complying with the Act and the condo corporation’s declaration, by-laws and rules;
- Notifying the condo corporation if your unit is leased;
- Repairing and maintaining your condo unit in accordance with the Act and the corporation’s declaration, by-laws, and rules; and
- Paying your common expenses fees on time.
Condominium Apartments For Sale In Uganda
CONDOMINIUM APARTMENTS FOR SALE IN NAALYA
UGX135,000,000
APARTMENTS FOR SALE GARUGA ENTEBBE
UGX 164587984.00
APARTMENT BLOCK IN KIRA TOWN
UGX1,800,000,000
What are the benefits of owning a condominium apartments In Uganda?
You’ll Have Access to Amenities.
There’s a Welcoming Community.
Find the Perfect Location.
Never Worry About Maintenance Again.
They’re Safe and Secure.
A More Affordable Option.
Freedom.
What can I expect from my condominium apartments board in Uganda?
According to the Act, the board of directors is responsible for managing the affairs of the condo corporation. As part of this responsibility, there are several things that owners can expect from the condo board, including:
- Ensuring compliance with the Act and the condo corporation’s declaration, by-laws, and rules;
- Notifying owners in advance if the condo corporation needs to access the unit;
- Notifying owners in advance of any upcoming owners’ meetings;
- Providing owners with required documents such as information certificates, financial statements, the auditor’s report, summaries of reserve fund studies, and plans for future funding of the reserve fund;
- Acting honestly and in good faith in their capacity as directors;
- Planning for the repair and maintenance of the common elements in accordance with the Act and the condo corporation’s declaration and by-laws; and
- Identifying and disclosing any conflicts of interest.
Is condominium apartments a good investment In Uganda?
Condos have been proven to be a great option for investors looking for investment opportunities with minimal upkeep needs, especially in comparison to single-family homes which tend to require frequent upgrades and maintenance. Investors should be aware of the options.
Where to buy condominium apartments In Uganda?
JAKANA HEIGHTS (Condos-luxury hilltop living)
Road, Kampala, Uganda
+256 779 051220
Silverline Condos
8HRM+X85, Mawanda Rd, Kampala, Uganda
+256 751 614222
Victoria Apartments
8 Elizabeth Ave, Kampala, Uganda
Orchid Rise, Tansy Avenue Fakhruddin Properties Uganda
9JQ7+5QJ, Jakana Rd, Kampala, Uganda
Bukoto Apartments
Dr Kiremerwa Rd, Kampala, Uganda
+256 773 560076
Comboni Apartments
plot 3513,black gate, Kironde Rd, Kampala, Uganda
Namungoona National Housing Apartments
8GRR+P7V, Orthodox Road, Nakibinge Rd, Kampala, Uganda