In light of recent global events and the current financial situation, anyone involved in budgeting will want to ensure that their funds are well spent. Communal complex committees, too, will be under even greater pressure to get the best possible value-for-money services for their fee-paying owners. Obtaining an accurate quote, has, therefore, never been more […]
Lee
Our Brief Guide to Making Correct Cyprus Complex Committee Decisions
Standing as a member of a Cyprus residential complex committee comes with a high level of responsibility. Not least because any legal claims such as third-party litigations appertaining to the communal areas will rest solely with the committee and thus, ultimately its appointed officers. Perhaps this goes a long way towards explaining why we are […]
Communal Fees and How Much You Should Expect to Pay
One of the most strongly contested areas of Cyprus Communal Management schemes is the whole issue of fees. Not just who is responsible for their payment, but how much should individual property owners be expected to pay? In the following, we aim to bring some clarification to some of the issues surrounding the collection and […]
Complex Service Providers and Contract Lengths
The thought of outsourcing the management of your Cyprus residential complex might be a rather daunting prospect, but it is now the number one choice of most resident committees. While there are likely to be several reasons for this, the primary one is likely to have something to do with how much easier it can […]
Can I become a Cyprus complex committee member and how?
Since the major and beneficial changes in Cyprus property law, complex resident committees are now a legal obligation. To this end, we receive a steady flow of enquiries concerning whether and how individuals might become committee members. In this article, we explore who is entitled, how the process works and, most importantly, what a committee […]
How Cyprus Communal Fees should be calculated
Fees are the lifeblood of any Cyprus communal complex committee and they are essential to its correct and successful operation. That is why calculating and collecting these fees is crucial and can make the difference between yours being a thriving and pristine complex or a rundown and a neglected eyesore. While calculating the communal fee […]
Can Committee Members Be Paid For Their Duties?
Considering that a large proportion of the properties in residential complexes are most likely being used as holiday homes, it can often prove difficult to find potential committee members. The fact that the position is a voluntary one doesn’t do much to sell it either. This may go some way towards explaining why we are […]
Do We Have to Register Our Cyprus Residential Complex Committee?
While it is essential that your complex forms a committee to administer the finances and day-to-day running of your complex’s maintenance and cleaning, registering with the Cyprus Land Registry is not a legal requirement. That said any “Custom Regulations” falling within the remit of the immovable property regulations are. Although not compelled to by law, […]
The Importance of Committee Insurance
Following an article that we published last month concerning communal insurance, we have received feedback from some of our readers concerning their confusion over the difference between communal and committee insurance. In the following, we aim to clarify this difference while at the same time offering a brief resume of why committee insurance is also […]
Why Communal Insurance is Crucial to Successful Complex Management
You could be forgiven for thinking that residents and committee members have enough to concern themselves with in respect of the day to day running of communal complexes, without the added headache of liability. You may be somewhat surprised to learn that there is still something of a “head in the sand” attitude towards planning […]
The Importance of Planning Your AGM
The adage “fail to plan and you are planning to fail” couldn’t ring any truer than it does in respect of preparing for your committee’s AGM (annual general meeting). Anyone who has ever taken part in a meeting conducted within committee rules will be all-too-familiar with the many pitfalls that lie in wait for the […]
What Should I Do If I Think I Am Being Charged Too Much For My Communal Fees?
For many Cyprus property owners whose dwellings are located within a complex, communal fees can present a wide variety of issues, and top of the list is likely to be excessive fees. It is hardly surprising, therefore, that Cyprus property management companies dealing with complexes are often queried by individuals and resident committees alike. Before […]
Newsletters – Why the Committee Should Send Them, How Often and What to Include
There is little doubt that regular communication is the key to avoiding misunderstandings and making savings in the valuable time taken in dealing with such issues. The great news is that a regular newsletter can be emailed to every property owner on your complex at the press of a button at any time to suit […]
Sinking Funds and why they are Vital to the Smooth Running of Your Complex Committee
If your Cyprus complex committee and residents wish to avoid that sinking feeling that accompanies the surprise of unexpected costs, a sinking fund needs to be considered a vital part of your plan. While regular complex costs for scheduled maintenance, cleaning and admin can (and must be) budgeted for, the cost of breakdowns, damage and […]
The Pros and Cons of Complex Self-Management
While self-managing the day-to-day running of your residential complex may strike you as the ideal way to save money, a great deal of stress and time-consuming admin also come with the territory. In fact, numerous newly formed and even long-established committees have embarked on the self-managed route only to realise later that it is something […]
Why your Cyprus complex committee needs a lawyer
Anyone living in a Cyprus apartment or villa complex is likely to appreciate just how important it is to have a functioning and recognised committee. Many are, however, less well-informed on the importance of retaining the services of a professional Cyprus lawyer. One of the main issues for many communal committees is that many of […]
Who Is Responsible For Paying Communal Fees?
Owners of properties within complexes that have shared facilities and communal areas are likely to incur the costs involved in cleaning and maintaining such areas. These communal areas may include anything from shared stairways and corridors to gardens, parking, and even swimming pools. As you may imagine, the cost of maintaining such areas can be […]
Why Residents Committees Have an AGM and What It Is All About
If you own a Cyprus property within a complex, you will already have heard of the resident’s committee and the AGM. Under the rules governing resident’s management committees in Cyprus, there is a need to give notice off and to hold an AGM (annual general meeting). At the first of these official meetings, the […]
Who Does the Roof on My Apartment Complex Belong To and Who Should Maintain It
While the title of this article may already provide some logic in so much that maintenance of an apartment block’s roof is likely to rest with those recognised as owning it, on further examination, there may be a little more to it. Many complexes have several separate apartment blocks and still, others may have […]
Why Must We Have Communal Maintenance?
A common question that many Cyprus property management companies are asked by villa and apartment owners who have access to shared common areas is “why must we have communal maintenance”? The question most often than not arises from the concern over the shared cost of this communal maintenance. Some property owners even think that the […]
Do I Have To Pay Communal Fees For Facilities That I Don’t Use
One of the top concerns that we hear expressed by property owners on complexes where communal fees are charged is “do I have to pay communal fees for facilities that I don’t use”? The really short answer is that in many instances yes you will have to pay fees for certain facilities even if you […]
What Should Be Covered In The Communal Fees?
While what exactly is covered under the communal fees will vary from one complex to another, as a rule of thumb, it is an area, utility, or facility that is shared in common with most if not all of the properties on that complex. This, of course, can cover a wide remit and that is […]
Why budgeting is so important to the Successful Management of Your Complex
When it comes to the smooth running of your complex committee, none of the “nuts and bolts” work is going to succeed unless you have budgeted correctly. One of the major benefits of working with a professional property maintenance company is that they are able to provide expert budgeting advice. From on-going and regular […]
Some Common Myths Concerning Communal Property Fees
Whether you visit Cyprus on holiday or live here for any length of time, you can’t have helped but notice that there are countless numbers of property developments on the Island. These are especially prolific in and around the resort areas and many of them are made up of one or more apartment blocks. Most […]
Why Your Complex Must Have a Management Committee
If you own a property in Southern Cyprus and it is within a complex, you are obliged by law (chapter 224 of the Cyprus Constitution) to participate in the formation of a recognised management committee. In theory, therefore, owners of such properties could be deemed as non-compliant when failing to do exactly that. Whilst the […]
