Propery Owners

Click here to download PDF file with the translation of the official condominium rules

CONDOMINIUM

The Condominium Regulation approved by the owners serve as the basis for the management of all operations within the boundaries of the condominium and each owner is bound to refer to in any case of need or dispute.

The management of the IL BORGO Condominium is the responsibility of IL SASSO Srl. and provides common services to all unit owners. Operational expenses are based on an approved budget annually in advance. Accounts are available for inspection by unit owner or by their legal representative.

SASSO Srl. charges relating to the ordinary operation and maintenance are fixed for the first three years starting 1/1/06 and will increase by the retail index thereafter. Extraordinary maintenance will be charged pro rata to all unit owners.

The condominium operations and related charges include:

• Drinking water charges
• Electricity for all common parts
• Water consumption for all common areas including watering of grounds and flowers
• Non drinking water for common areas cleaning and watering
• Gardening of all common areas carried out by garden staff under contract
• Security and night control by independent security guards under contract
• Ordinary maintenance of all public and shared areas carried out by professional staff
• Extraordinary maintenance that needs to be carried out and invoices charged pro rata
• Administration, accounting, and management of the condominium including a resident condo manager
• Satellite television and maintenance
• Central switchboard maintenance and operation excluding individual usage charged directly to unit owner
• Insurance covering property and liability of all common areas

Owners have the right to access the accounts and records pertaining to the management and operation of the SASSO Condominium including ordinary maintenance schedules. Majority of owners have the right to approve any extraordinary maintenance prior to its execution unless urgently required for the safety and well being of all residents and in such cases the approval will be sought retroactively.

OWNER RESPONSIBILITY

Unit Owner is directly responsible to settle all charges levied on the property by local authorities and they included but are not restricted to:

• ICI - local real estate tax assessed by local authorities and based on the official "rendita catastale" as regularly set by central governments. The tax can be paid in two installments annually.

• TARSU - waste collection tax based on the total square meters of the unit and it settlet in two annual payments

• Electricity - according to actual use as recorded by own electricity meter and settled on a bimonthly basis

• Gas - according to actual use as recorded by own gas meter. Meter reading and settlement on a bimonthly basis

• Telephone - direct use of telephone for all outside calls is monitored by central switchboard and billed to unit owner on a monthly basis. If the owner installs a direct line bypassing central switchboard settlement of related use will have to made directly.

The list is complete at the time it has been compiled in September 2005. Additional taxes or charges may be imposed by the local or central authorities.