EezyLife is a one-stop, web-based solution for community management services which promises you to make your days an easylife with its fast, trustworthy, secure, and quality society management services. Now you have bought a beautiful flat with a handsome amount of money, but still, after that, you have to pay lifelong monthly or periodic society maintenance charges and you do not understand why. We are here to give you detailed reasons for that. Stay connected.
First of all, society management charges are not at all inconvenient, and secondly, they are not complex or difficult to comprehend. These charges are in fact mostly justified and backed up by the laws and they are easy to apprehend too. Let’s find out.
Types of Maintenance Charges to be paid by the Society Members:
In India the model bye-laws may vary from state to state in particular; however, the basic structure and nomenclature remain the same. Always remember the guidelines provided by the bye-laws are based on different calculation systems; how much each member will pay as maintenance charges – this is to be decided and determined by the society based on the bye-laws.
Service Charges: These include any charges that are required to obtain services and any amenities or facilities and are equal to all members. That can be charged for electricity for the common area, charges for the society guard, lift operators, cleaning personnel, gardener and many more.
Repair & Maintenance Charges: These include any type of charges that are required to redevelop, repair and to maintain the property of the society like pumps, generators, lifts, tanks, internal roads, and many more. Rates that are subject to the minimum of 0.75% per annum, of the construction cost of each flat for meeting expenses of normal recurring repairs, are determined by the governing body of the society.
Parking Charges: Those members of the society who own vehicles have to pay the parking charges that vary according to the type of the vehicle.
Water Charges: This is mandatory for all the members. The charges are based on the basis of the total number and size of inlets provided in each flat.
Non-occupancy charges: These charges that should not be more than 10% of the service charges have to be paid even if you are not currently staying in the house/flat.
Sinking Fund: This is an emergency fund for unpredictable situations. It is determined by the governing body of the society, subject to a minimum of 0.25% per annum of the construction cost of each flat.
Interest on defaulted payments: This is for any late payments as in that case you are liable to pay interest on defaulted dues. Charges vary from society to society but are subject to a maximum of 21% per annum on the charges.
Insurance charges: Certain charges for insuring the building and equipment may have to be paid (based on the built-up area of the flat) as part of the maintenance bill. But you don’t have to pay the insurance premium for shops/flats used for commercial purposes by others in the building.
Lease/rent charges: This is based on built up area of each flat / unit.
Other charges: This is decided by the governing body of the society as and when needed.
Is it mandatory to pay maintenance charges?
If you are a part of an independent apartment, therefor every service of facility that you avail, you will be paying out of your own pocket. You don’t need to pay any maintenance charges. But when you are in a housing society, you are agreeing to be a part of a larger co-operative construct; therefore you are liable to pay the said charges. The moment you are registered as a member, a maintenance contract has to be signed by you and the builder, making both parties legally liable to fulfill their respective duties and responsibilities.
How often do you have to pay maintenance charges?
There are four payment cycles – (1) annual (2) bi-annual (3) quarterly (4) monthly payment cycles. Housing societies select one of these payment frequencies at the very initial stage and can make changes later considering different factors.
It is always beneficial to pay your maintenance charges on time to avoid late payments with added interest. As a responsible resident on-time payments of maintenance charges are expected from you. But, make sure that the charges are as per the rules; for any inconvenience, you can straight go to the management committee of your society.
EezyLife is here to make your burden less as we have secured a utility bill payment options among our many easy and convenient services. Your comfort and security is our top priority. Connect with us and let us make your life an easylife with our potential, strong, trustworthy, secure, and safe community management services.