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 is a fairly straightforward matter of dividing the forecasted annual cost by the total square footage of all the dwellings, apportioning it can often be a more demanding science. According to Cyprus communal laws, however, each property owner should pay their proportion of the total fee based on their percentage of that total floor space.

Why issues arise

While much of the above may appear to be cut and dried, it doesn’t always work out in practice. Disputes often arise through lack of communication and misunderstandings around how the total budget has been arrived at. For example, it could be argued that fees only take into account the regular monthly cost of cleaning and maintenance, while any emergency repairs or building-wide repairs are collected separately.

In the case of such events, prudent committees would have included a “sink fund” in with the total budget to meet any scheduled or unforeseen repairs, especially those appertaining to apartment blocks. This does, of course, have a significant impact on the total cost of the fees levied, while trying to collect large amounts from property owners after the event is likely to prove even more of an issue.

What to do if you think your fees are incorrect

If you suspect that your committee has got it wrong, the first port of call should be the AGM at which time the budgets and fees are discussed and ratified. If you are unable to resolve any issues at that point, it may be time to consider appointing a professional complex management company to advise the committee and manage all aspects of your complex.

While your committee is a legal requirement and it is ultimately responsible for all legal and practical aspects relating to your complex, a management company has the expertise to act on their behalf. There is no alternative to experience and mistakes in complex management can be horrendously expensive, so making such a move has the potential to save valuable funds.

Benefit from expert help in every area of communal fees and finance

Here at Lee Property Services, we provide a comprehensive range of Cyprus complex management services from dealing with fees, finances and budgets to the everyday operation of your complex. We have access to expert teams of lawyers and accountants that are conversant in the specifics of communal complex law and finance.

Talk to one of our experts today about your communal fees and discover how we can take care of every aspect of Cyprus communal management from finance and fees to maintenance and repairs. 

Call us right now on 23831194 and discover just how easy life is when you put your trust in the complex management experts. 

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Your Cyprus property in good hands

LEE property services provides quality property services to suit your individual needs. Through attention to detail and as a professional team, we aim exceed your expectations first time, every time. We specialise in communal property management and maintenance. Should you require help and advise, or for us to provide you with a free quotation, please feel free to contact one of our team members who will be more than willing to assist you.

We have lots of other sites that we look after and will be happy to provide you with references. All our work is carried out on an “open-accounting basis” so you can see exactly where the money is going and what is being purchased. We pride ourselves on being able to reduce the running cost of your complex as well as taking away all of the hassle associated with running the property – leaving you free to enjoy your property as intended.

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