The Solution to Dealing with the Hidden Costs of Cyprus Property Ownership

The chances are that when you brought your Cyprus apartment or villa the sun was shining and you had already been taken to visit a shiny, newly finished complex. Everyone was having a great time, the pool was sparkling in the warm sunshine and your head was full of living the dream in your own brand new property.

Fast forward and the reality may now be a little different as you and your fellow resident’s battle to ensure that the communal areas are kept clean, the pool is maintained, and the money is found to make it all happen. Despite Cyprus having its own quirky legal system and a rather laidback attitude (siga, siga), dealing with the hidden costs that so often jump up to bite property owners here is not as difficult as you may think.

Managing your complex

As with anything in this life, if you wait until it stops working it is likely to cost you a lot more than it would have if you had kept it well maintained. Prevention is always far more preferable and economical than any cure. One of the easiest and most effective ways to control the communal costs on your complex is through the formation of a legal committee.

Show me the money!

Thanks to the intricacies of human nature, extracting money, even when it is rightfully owed can often present some challenges. One of the great benefits of operating an official and recognised complex management committee is that owners have the ability to instruct their Cyprus lawyer to pursue arrears.

Owners of properties within developments will cite none payment issues as the prime cause of difficulties in dealing with their neighbours than any other issue. No one likes to feel that they are paying for amenities that others are then using for free and this, in turn, has been known to have the knock-on effect of discouraging those who are already paying from continuing to do so.

Stand and deliver

A committee has other tools at its disposal, however, apart from the ability to actively pursue those property owners who for one reason or another are reluctant to cough up their fair share towards a complex’s costs. Under Cyprus law (chapter 224 of the Cyprus Constitution), a committee has the remit to bar property owners who are in arrears with their communal fees from voting on issues at the AGM. Almost by default, a legal complex committee defuses some of the friction that so often arises in the area of communal fees because it acts, in effect, to depersonalise such issues.

Taking best advice and working with the professionals

It is not surprising that many complex committees are born out of frustration and necessity. Despite the fact that there is a great team of property management professionals on hand, things so often get left until the cracks start appearing. The good news is that property owners have the option of bringing in a professional team who have a vast wealth of experience in every aspect of forming and running complex committees. This, of course, can be done right at the outset.

Such organisations as these will be equipped to provide an expedient solution that is tailored towards the specific requirements of your complex. This alone ultimately represents value-for-money and it doesn’t end there. You can benefit from their experience in real savings of both time and money.

Everything you need in one convenient place

From professional legal help and advice to the provision of the actual property management services that you need, there are specialists that can deal with virtually every aspect of complex management. Swimming pools, lifts, and communal lighting call for separate power and water accounting and certified maintenance scheduling too. All of which are best handled through a single company invoicing and accounting structure. If your committee wants to keep things simple and easy to oversee this is an ideal option.

Leaving it to the experts

You don’t have to wrestle with your communal responsibilities any longer because help is at hand in the form of a team with a proven track record and a great reputation.

Contact that team now to discover how they can provide the communal solutions that you have been searching for.

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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