Condominium management glossary.

The detail of a unit’s charges, payments and balance with the condominium. It is the basis for billing, reconciling payments and issuing certificates.

See also:Condo fee (maintenance fee)Delinquency

Exclusive, temporary use of a common area (BBQ area, event room, court) by one unit, under the rules set by the bylaws or the assembly, which may include a fee, a deposit and conditions such as being up to date.

See also:Full guide →

The record of what happened at an assembly: attendance, quorum, resolutions and the result of each vote. It is the proof that a resolution exists.

See also:Owners’ assembly

The board member who oversees that management complies with the law, the bylaws and the resolutions. The role is one of oversight, not execution.

See also:Board of directors

The group of owners elected by the assembly to oversee management. It usually has a president, treasurer, secretary, auditor (fiscal) and members, depending on the bylaws.

See also:Auditor (fiscal)Condominium manager

The goods and services catalog Hacienda requires to classify each line of an electronic receipt in Costa Rica.

See also:Electronic invoice

Condominium property that belongs to all owners in proportion to their ownership share: internal roads, gardens, pool, event room, gatehouse, tanks and networks, among others.

See also:Amenity booking

The periodic amount, usually monthly, each owner pays to cover the condominium’s common expenses. It is usually calculated by splitting the approved budget by ownership share.

See also:Ownership share (coeficiente de copropiedad)Special assessmentReserve fundFull guide →

The document governing community life, the use of common areas, management and sanctions within a condominium. It is approved and amended by the assembly.

See also:Law 7933Due process

The document detailing what a unit owes in common expenses. Issued under Law 7933, it is an enforceable title, which allows collection through summary court proceedings.

See also:DelinquencyGood-standing certificate

The person or company in charge of day-to-day management: collecting fees, paying expenses, maintaining common areas, keeping the books and reporting to the assembly.

See also:Board of directors

The situation of a unit with overdue, unpaid fees or other charges. It is measured by amount and by the age of the debt.

See also:Late feeCondominium debt certificateFull guide →

The safeguards the condominium must respect before sanctioning: notify the facts, allow a defense, issue a reasoned decision and allow an appeal.

See also:Condominium bylaws (reglamento)Full guide →

The digital tax document issued to Costa Rica’s Ministry of Finance (Hacienda) as a digitally signed XML. Other types include the electronic receipt (tiquete) and credit and debit notes.

See also:CABYSFull guide →

Each private unit in a condominium (house, apartment, shop or office), registered separately in the National Registry. Its owner co-owns the common areas according to their ownership share.

See also:Finca matriz (parent property)Ownership share (coeficiente de copropiedad)

The whole property on which the condominium is established, from which the units and the common areas derive.

See also:Finca filial (unit)Common areas

The condominium’s access control point, where security staff log visitors, suppliers and vehicles.

See also:Law 8968Full guide →

The document management issues to certify that a unit has no debts with the condominium. It is usually requested before selling or buying a unit.

See also:Condominium debt certificate

Interest or an extra charge applied to overdue fees, provided it is approved by the assembly or set in the bylaws.

See also:Delinquency

Costa Rica’s Condominium Property Law (Ley Reguladora de la Propiedad en Condominio). It governs how a condominium is created, owners’ rights and duties, the assembly, management and collection of common expenses.

See also:Condominium bylaws (reglamento)Finca filial (unit)

Costa Rica’s Personal Data Protection Law. It applies to the resident, owner and visitor data a condominium handles, and is overseen by PRODHAB.

See also:Gatehouse (caseta)Full guide →

The condominium’s highest body, made up of all owners. In regular or extraordinary sessions it approves the budget, appoints management and makes the major decisions.

See also:QuorumAssembly minutesProxyFull guide →

The percentage of the condominium that belongs to each unit. It determines the unit’s share of common expenses and the weight of its vote in the assembly.

See also:Condo fee (maintenance fee)QuorumFull guide →

An owner’s authorization for another person to represent them and vote on their behalf at an assembly, within what the law and bylaws allow.

See also:Owners’ assembly

The minimum attendance needed for an assembly to meet validly. In a condominium it is measured by ownership share, not by headcount.

See also:Ownership share (coeficiente de copropiedad)Owners’ assembly

Savings the condominium builds month by month within the fee to pay for large repairs or emergencies without resorting to special assessments.

See also:Special assessment

The Central Bank of Costa Rica’s instant payment system, which lets people transfer money using a phone number. It is one of the most common ways to pay condo fees.

See also:Account statement

A charge on top of the regular fee, approved by the assembly, to cover an unbudgeted expense or a specific project such as a major repair.

See also:Condo fee (maintenance fee)Reserve fund