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 […]