The purpose of this paper is to investigate the key characteristics of Condominium’s Operating Expenses (OPEX). It undertook a case study approach. This paper collected 14 years of financial statement data from condominium juristic persons. The data was collected and analysed to identify condominium’s expense items, structure and the patterns of Condominium’s OPEX. The findings reveal that there are 83 expense items involved in facility management. These expenses can be classified into four categories: utility expenses, facility service expenses, repair and maintenance expenses and management and administrative expenses. Overall ratio of expenses showed that management and administrative expenses and facility service expenses occupied 80 percent of all expenses, while utility expenses and repair and maintenance expenses are 15 and 5 percent respectively. However, repair and maintenance expenses are likely to escalate significantly related to each building’s age. There are 2 patterns of OPEX’s ratio. The patterns were illustrated key variables that affect expenses clearly and a variety of variables that affect multiple results. In conclusion, The Condominium’s OPEX had a similar expense structure. Conclusively, the research exhibits the expense items, condominium’s OPEX structure and condominium’s OPEX characteristics that can be discussed for further research related to the long-term facility expense planning.
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26 December 2017
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Technology, smart cities, digital construction, industrial revolution 4.0, wellbeing & social resilience, economic resilience, environmental resilience
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Lertariyanum, V., Chulasai, B., & Issarasak*, S. (2017). The Key Characteristics of Condominium’s Operating Expenses (OPEX) in Bangkok. In P. A. J. Wahid, P. I. D. A. Aziz Abdul Samad, P. D. S. Sheikh Ahmad, & A. P. D. P. Pujinda (Eds.), Carving The Future Built Environment: Environmental, Economic And Social Resilience, vol 2. European Proceedings of Multidisciplinary Sciences (pp. 34-47). Future Academy. https://doi.org/10.15405/epms.2019.12.4