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FIXED EXPENSES-Living in Cartagena

Includes: Apartment Monthly Administration Fees


QUICK FIGURE:
 ELECTRICITY, WATER, GAS AND TELEPHONE are: Pesos 430.025/MO.

OR: ITEMIZED FIGURES:  

ELECTRICITY ..................... Monthly bill (averaged over the past 12 months) is: Pesos:   185.300
WATER ............................. Monthly bill (averaged over the past 12 months) is: Pesos:       93.325
GAS ................................. Monthly bill (averaged over the past 12 months) is: Pesos:           6.440
TELEPHONE ....................... Monthly bill (averaged over the past 12 months) is: Pesos:  144.960


OR BETTER YET: DUE DILIGENCE INFORMATION
. . . LOT’S OF STUFF!

DUE DILIGENCE: Prospects often ask Paul about EXPENSES (or apartment ADMINISTRATION FEES-see below.  So I’m offering the following information that will offer you the REASONS behind the FIGURES. Use your own DUE DILIGENCE, and interpolate my data against your yours, and your lifestyle. 

The same DUE DILIGENCE applies when buying realty!  Paul wants prospects to visit Cartagena, LOOK and INSPECT with him, the various properties. Then, do your own DUE DILIGENCE, and make your decision.  It’s true, Paul has clients who do not use DUE DILIGENCE, and it drives Paul up the wall! Some have bought through Paul without even seeing the property!  So far, everyone has been pleased, but Paul let’s them know he does not like it. Paul will work with you, with full information, in an un-hurried fashion, and the results will be an enjoyable, and profitable experience.  Thanks from Paul!

PERSONAL NOTE: I am Paul’s Jr. Gringo partner.  I live, and work in my small Caribbean waterfront apartment located in Laguito, Cartagena, Colombia. This is a Tourist/Residential area which is designated by the Federal Government as Estrato 6, the most "desirable" area.  EXPENSES are determined by Estrato numbers…. (6,5,4) which help support those who live in the poorer (1,2, 3) areas.  Therefore, my Estrato 6 apartment means that my EXPENSES, shown below, are the highest. This country-wide scheme seems to work well, with no one complaining.

The complete and honest facts (along with other sources) shown below, should help you perform DUE DILIGENCE.  I live alone, in a small apartment with 1 bedroom, 2 bathrooms, kitchen, living room and two enclosed balconies-one off the bedroom and the other fronts the Caribbean. 

ELECTRICITY --- One of the balconies, used for work, (three PC’s) is enclosed, and has an 8,000 Btu A/C window unit which runs an average of 6 hours per day/6 days per week. The bedroom, A/C is used 20% of the time, only during nights, and it has a split 8,000 Btu A/C unit. During other times 3 ceiling fans can be used. Hot water is created from an on demand above the shower unit-12 minutes ea. day.
ELECTRICITY COST averaged over the past 12 months is: Pesos: 185.300.

WATER includes sewer and a daily trash/garbage pick-up.
WATER, ETC. COST averaged over the past 12 months is: Pesos: 93.325.

GAS --- GAS averaged over the past 12 months is: Pesos: 6.440.

TELEPHONE charges depend on the TIME and the DISTANCE for each call placed.  Cartagena has three cell companies and the calls placed to these subscribers can vary. Interestingly TIME charges formerly did not exist, but now the billing depends on the time while connected.  I often note that Latinos, when saying “goodbye” on the telephone or cell phone, often take 4-5 minutes. Which may be the major reason for going back to TIME? $$$$$?
TELEPHONE averaged over the past 12 months is: Pesos: 144.960.

BASIC CABLE---Includes about 100 channels (CNN, FOX, FOX SPORTS, plus about 6 English movie channels are FREE throughout our apartment building.   Sports, movie or "exotic" (sex) channels cost more! I don’t use them, because I’m cheap!           

HIGH SPEED INTERNET CONNECTION-we need it for our sales and promotion work.
INTERNET monthly bill: is: Pesos 200.000.   

MONTHLY ADMINISTRATION FEE*-is based on the total sq. meters in the apartment, and includes my covered parking space.
Monthly ADMINISTRATION FEE is: Pesos 254.000.

NOTE: highest and second highest monthly expenses totaling Pesos 454.000, are Internet and Administration Fee.

My total average Monthly Expenses for ELECTRICITY, WATER, GAS AND TELEPHONE are: Pesos 430.025.
My total average Monthly expenses for INTERNET and ADMINISTRATION FEE are: Pesos 454.000.

My TOTAL (average) MONTHLY EXPENSES: .................................................................................... Pesos 884.025 
My TOTAL (average) DAILY EXPENSES: ............................................................................................ Pesos    28.517
Or an average of about $14. U.S./day

___________________________________________________________________________________________________

Monthly Administration Fees
Special Assessment Fees

All apartment buildings (Edificios) have common expenses that are shared with the individual apartment owners, based upon the various sizes (sq. meters) of each apartment, and garage, if they have one.

The monthly ADMINISTRATION FEE is used to:

 1. Insure the building against fire, damage, theft, accident.
 2. Provide accident insurance for the apartment owners and guests.
 3. Pay the employees and the Administrator.
 4. Pay the health insurance and pension funds of the employees.

The monthly ADMINISTRATION FEE also maintains:

 a. Elevators.
 b. Emergency light power plant.
 c. Drinking water and sewage tanks and pumps.
 d. Swimming pool: chemicals, filter, pump and daily cleaning.
 e. Painting. 
 f. Lighting.
 g. Miscellaneous repairs.
 h. Personal assistance of apartment owners and guests.
 i. 24 hour security of apartments, apartment owners and guests.
 j. Appearance of the building which maintains the value of the apartments.
 k. Collects and pays government fees.
 l. Payment of monthly electric, water, sewer, trash and garbage collection, etc.  
 m. Cleaning of the interior and exterior of building.


SPECIAL ASSESMENT FEES

If the building incurs non planned additional expenses, which are not covered by the regular Monthly Administration Fee, and there is no money in the bank to cover the emergency, then the Board of Directors will vote for an additional monthly SPECIAL ASSESMENT FEE that will be billed to each apartment owner. These SPECIAL ASSESMENT FEES could include painting, major swimming pool repair, replacement or re-building the electric power plant, elevators, etc.

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E-Mail: paul@cartagenarealty.com. Phone Call Reception: Mon Thru Friday 9:30am - 1:00pm and 2:00pm - 6:00pm. Saturday 9:30am - 1:00 pm.
Office: Bocagrande, Cra. 1 Calle 13 Edificio Cartagena de Indias - Local 1. Tel.: (57 5) 665 0515. Celular: (57) 311 660 2756. Cartagena de Indias, Colombia.

© Paul Juan Realty, and/or its clients. All rights reserved. All information deemed reliable but not guaranteed.