Proposal of voting rights on condominium meetings regarding to m2 basis

HoREA recommends that the apartment building conference calculate a square meter per vote instead of per apartment.

Ho Chi Minh City Real Estate Association (HoREA) has just released a draft of the Draft Circular promulgating the Regulations on management and use of apartment buildings, including a new proposal for calculating the voting rights of apartment buildings regarding to m2 units.

According to current regulations, voting rights at apartment building meetings or apartment complexes are calculated by unit. Accordingly, each apartment corresponds to a vote. For other areas in a condominium other than apartments, each floor area of ​​construction floor is equivalent to the construction floor area of ​​the largest apartment according to the approved design in that apartment building with one vote.

However, the Association recognizes that the current regulations are not fair among owners of large, medium or small apartments. Or for the investor, the owner of another area, each floor area of ​​construction floor is equivalent to the floor area of ​​the apartment building with the largest area, is inadequate.

Because this makes investors and owners of other areas disadvantaged. Therefore, the Association proposed this voting right should be calculated in total m2 as the way of calculating voting rights in a joint stock company.

According to Vu Le