I am Dave R. Conway, I am the
owner of 2 units in a five-year-old condominium with 25 units in Makati and
Cebu. The Condos Makati is the most progressive one maybe because basically we
offers the same advantages with few extras like, The tenant-owners
elect a Board of Directors, whose responsibility is to meet, interview and
"approve" or "disapprove" a prospective owner, thereby
protecting the present tenants' interest by approving only qualified
candidates. Cooperative ownership offers a more stable community environment.
Residents tend to stay for longer periods of time, and few co-ops allow
extensive subletting, preferring a high owner-occupancy. A large portion of the
monthly maintenance fee paid by each shareholder is tax deductible; one example
is the pro-rata share of the corporation's real estate taxes, as well as the
building's underlying mortgage payment.