Condominium Corporation

A Condominium Corporation is a legal entity created under the Condominium Act (RA 4726) to manage, maintain, and administer the common areas and affairs of a condominium project. Every condominium development in the Philippines must have a condominium corporation, and every unit owner is automatically a member upon purchase. The corporation operates similarly to a homeowners' association but is specifically governed by the Corporation Code and the Condominium Act.

The condominium corporation is governed by a Board of Directors elected by unit owners during the annual general meeting. The Board appoints officers (President, Secretary, Treasurer) and may hire a professional property management company for day-to-day operations. Voting power is typically proportional to unit size or ownership share (condominium interest). Regular and special meetings are conducted, with decisions made through majority votes on ordinary matters and 2/3 or 3/4 votes on major decisions.

Key responsibilities include: maintaining common areas (lobbies, hallways, elevators, swimming pools, gyms), enforcing house rules and regulations, collecting association dues, managing the operating fund and sinking fund, hiring and supervising staff (security, maintenance, admin), procuring insurance for the building and common areas, resolving disputes between unit owners, and approving or denying renovation requests. The corporation also represents unit owners in dealing with the developer, LGU, and external parties.

Unit owners have the right to: attend and vote in general meetings, inspect corporate records and financial statements, run for the Board of Directors, receive notice of meetings and proposed rule changes, petition for special meetings, and challenge Board decisions through proper channels. Owners also have the obligation to pay association dues, comply with house rules, and maintain their units in accordance with the master deed and declaration of restrictions.

Condominium corporations in the Philippines are registered with the Securities and Exchange Commission (SEC) under the Corporation Code (now the Revised Corporation Code, RA 11232). They are governed by the Condominium Act (RA 4726), the master deed, and the declaration of restrictions. DHSUD has regulatory oversight. Disputes are typically resolved through the corporation's internal mechanisms, DHSUD mediation, or regular courts. Well-run condominium corporations significantly enhance property values and resident satisfaction.

Condominium Dues, Master Deed, Sinking Fund, Property Management, Condominium Act