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 penalties for such failings are still unclear, it is, however, something that owners of property in Cyprus should give some serious consideration to.
Taking care of communal areas
Even developments that consist of only houses will most likely have communal areas such as the access roads, sewage treatment, and perhaps street lighting. Apartment blocks and developments with swimming pools and other outdoor facilities will, of course, have even more for their residents to be concerned about. The fact is, that all of these areas and amenities require some form of maintenance, cleaning and ultimately at some stage repairs. If this is not addressed in a timely fashion, deterioration and disrepair will quickly follow.
Generating the money to take care of communal areas
Keeping communal areas and facilities clean, operational, and in good repair costs money of course and that money must come from somewhere. Put simply, because these “communal areas” are by their very nature shared by each and every property owner on your complex, they are deemed as such to be a shared cost. This means that every property owner is liable to contribute a proportion of those expenses. The issue that has so often arisen, however, has been how those costs are calculated and how the money is collected.
The need for an official complex management committee
The correct and most effective way to address the above issues is through the forming of a complex management committee. This follows the lines of an officially recognised body that can act in the best interests of the property owners within the complex. Once established, an official committee is tasked with managing the funds, costs, and the necessary resources needed to clean, maintain, and repair the communal areas and facilities.
A broad remit
In the broadest terms, virtually anything that is shared by the individual property owners or exists beyond the boundaries of their own dwelling could be deemed as a communal asset. Along with such obvious things as swimming pools, tennis courts, and open areas, it will also include stairways, lifts, and of course, the structures of an apartment block itself. The management committee would be responsible for handling how the communal assets are financed and repaired. Its remit also includes ensuring that every property owner within the complex pays a predetermined sum as their contribution towards such costs.
Fulfilling your legal requirements
Apart from satisfying the legal responsibility of each and every property owner within the complex in respect of forming the committee, the group is then able to ensure that they are conforming to law.
This is done through the scheduling of AGM’s (general annual meetings) and making every reasonable effort to ensure that every property owner is informed of such meetings in a timely manner. Such meetings must have an official agenda notified in advance and only those property owners that are fully up-to-date with their communal fees are eligible to vote on matters on that agenda.
Obtaining the best possible mutually beneficial results
The legal issues aside, one of the most valuable benefits to be gained through the forming of a management committee is maintaining your complex in a clean and functional way. Whether you spend a few weeks living in Cyprus or you have made the island your home, you will want the place where you live to provide comfort and security. From collecting the fees and managing the costs of taking care of the cleaning and regular repainting of the building, a well-structured and properly managed committee is a crucial factor in your success.
Contact us today to find out more about managing your communal areas through our contact us page.