THE House of Representatives has approved on third and final reading the proposed Act providing for the redevelopment of condominiums amending for the purpose Republic Act (RA) No. 4726, , as amended, otherwise known as “The Condominium Act”.
Garnening 188 affirmative votes without objection during plenary session was House Bill (HB) No. 10173, also known as the proposed Condominium Redevelopment Act.
The bill was lodged in substitution of HB No. 7618 filed by San Jose del Monte City lone district Rep. Florida “Rida” Robes.
Through the measure, the proponents seek to establish Iivable communilies that provide equitlable, inclusive, and resililent opportunities for the improvement of human well being while contributing to the economic vitality of the communities.
“This is meant to ensure the safety and integrity of existing and future condominium developments to protect the public against hazards of aged buildings that pose threats to the owners and the general public,” said Speaker Ferdinand Martin G. Romualdez, leader of the 300-plus strong House of Representatives.
Moreover, HB No. 10173 establishes rules for the proper maintenance, repair, reconstruction, and redevelopment of condominium projects.
“It ensures that the property rights of unit owners are respected while addressing the needs of the community and improving the overall quality of life of Flipinos,” noted Speaker Romualdez.
The bill, which originated from the House Committee on Housing and Urban Development, provides that developers and their agents may be allowed entry to a unit during emergency situations where there is danger to life or property, or for maintenance purposes relative to common areas
As part of its key provisions, it reduces the voting requirement for the dissolution of a condominium corporation from 70 percent to a simple majority for projects that have been condemned or expropriated or projects that are no longer viable.
It reduces the voting requirement for the dissolution of a condominium corporation from 100 percent to two-thirds of the stockholders or members for projects that have been in existence for 30 to 50 years, and from 100 percent to a simple majority for projects that have been in existence for 50 years or more.
