Condo unit owners told: Stop amortization collection

SunStar File
SunStar File

CONDOMINIUM unit owners affected by the series of earthquakes in Davao City are temporarily barred from collecting amortization from its occupants, the Department of Human Settlement and Urban Development (DHSUD) ordered.

DHSUD-Davao Region (DHSUD-Davao) officer-in-charge Miguel Palma Gil said the regional department issued an order of suspension of collecting amortization payments to four condominium establishments after these have incurred damage from the previous magnitude 6 earthquakes that struck the city during the last quarter of 2018.

These condominiums are Ecoland 4000, Magallanes Residences, Palmetto Place and Verdon Parc.

He said they issued the suspension, effective Wednesday, January 8, to lessen the unit owners' financial burden, following the damages they incurred after the earthquakes.

"Kani ato buyers nga nakapuyo or wala nagpuyo, either nag pa-in house finance sila sa developer, or through a financial institution, will be burdened from paying monthly amortization (Our buyers who either reside or not, either have it through in-house finance to the developer or through a financial institution will be burdened from paying monthly amortization)," Palma Gil said on Friday, January 10.

He added, "Initially, unang step ni siya to help the buyers, para dili sila mabug-atan. Sige sila'g bayad, wala sila nagpuyo didtoa. Or sige sila bayad, expecting nga makapuyo sila, unya naa'y order na dili gamiton tungod naa'y kinahanglan nga himuong retrofit or other rehabilitation (This is our initial step to help lessen the financial burden of the buyers. They are paying for a property that they can't occupy because of an existing order prohibiting them to occupy it due to necessary retrofitting or structural rehabilitation)."

The housing official confirmed these residences are among those establishments that were issued a "yellow" and "red" tag status from the Office of the City Building Official (Ocbo). But he said the DHSUD, formerly known as Housing and Land Use Regulatory Board (HLURB), also inspected the four condominiums.

Ocbo head Cirinia Grace Catubig, in a previous report, said seven quake-affected buildings have been placed under "red tag" status or establishments that incurred major damages from the previous earthquake. These are establishments given a "temporary vacating" order, or no occupation status.

Nine establishments, however, were also placed under "yellow tag" status, which only incurred damage in specific portions of the establishments, but Palma Gil did not elaborate the status of each condominium. He, however, earlier requested Ocbo's documents before issuing the suspension.

The suspension is indefinite as DHSUD would have to set up a dialogue with the unit owners from different condominiums.

The dialogue schedule: Ecoland 4000 (January 13, 9 a.m.), Magallanes Residences 1, 2, 3 (January 13, 1:30 a.m.), Palmetto Place 1, 2, 3 (January 14, 9 a.m.), and Verdon Parc 1, 2, 3, 4 (January 14, 1:30 a.m.).

He said the venue of the conference will be at the DHSUD office (formerly HLURB-Southern Mindanao Region office), located at the 14th floor of Pryce Tower along J.P. Laurel Avenue.

Palma Gil said concerns and inquiries of the buyers will be discussed and will be collated by his office before taking it up to the condominium owners.

"Hopefully, this can be settled without resulting to filing of cases," he said.

Should buyers decide to file cases before the court, he said DHSUD would support them as the agency is mandated to protect their rights.

Meanwhile, owners who would violate the order will be issued a cease and desist order in their current and ongoing projects.

"Also, we'll be requesting for the suspension of their applications, from both local and nationwide blocklisting," Palma Gil said.

Trending

No stories found.

Just in

No stories found.

Branded Content

No stories found.
SunStar Publishing Inc.
www.sunstar.com.ph