Message from Director

My name is Panayiotis Peklivana, and this is how we started in Communal Property Management.

When I decided to return to my native country, I had to establish a form of in-country income prior to being able to return.

After much research into my options, I decided that my best option would be to purchase a number of apartments and rent them out as holiday units, (via a property management company in the first instance until I was able to move over) I thought this would be a very good business because the main income for Cyprus was tourism. Being an IT Consultant I am used to gathering information, being supplied with appropriate information and documentation and working with professional processes & procedures.

My troubles started as soon as I took possession of my completed apartments.

Being a novice to purchasing or owning properties in Cyprus I was totally reliant on information received from

the developer, the solicitor and the property management company.

At no time was it explained to me that as soon as the apartments were handed over there was a thing called

(kinochrista) communal service charges which needed to be paid, even if my properties were empty.

The major problem with me paying these charges was that I was not previously informed or given any information regarding the charges so I did not budget for them, therefore, all my calculations were incorrect. When I started questioning the charges and asking for information regarding the charges, I was told it was the law and I had to pay them and that was that. Being who I am and my stubbornness for information, which was not being satisfied by the developer, the solicitor or the management company who were managing the development, immediately I started investigating communal service charges.

My thoughts were, there must be some kind of regulation/s covering this subject, and there was

The Immovable Property (Tenure, Registration And Valuation) (Amendment) Law Of 1993

It took me a few weeks to fully digest and understand all the truly relevant sections of the laws. Once I had, I armed myself with all the appropriate information and I tackled the property management company asking them once again to explain the communal service charges and how they calculated them, also pointing out to them the correct method was outlined in the 'The Immovable Property (Tenure, Registration And Valuation) (Amendment) Law Of 1993' via Table B percentages. To my surprise they did not have any knowledge or understanding of what I was talking about, telling me that, that’s not how things are done in Cyprus, this totally infuriated me.

From that point onwards I made it my mission to try and find a property management company that adhered to the appropriate laws, however, it soon became apparent that nearly all property management companies were not calculating communal service charges correctly, probably because it was to difficult and complicated, the only reason why it was to difficult and/or complicated was because these companies did not have the experience, knowledge, drive or commitment to do things correctly within the guidelines of the law, they just chose and highlighted the laws which benefited then.

They had been doing things there way for so long without being questioned that they were actually offended when someone especially a foreigner/outsider questioned their methods. To try and explain to these management companies that it was relatively easy to calculate communal service charges within the confines of the laws, using my IT skills I quickly produced an excel spreadsheet which automated the process, all that it required was to input the relevant information, (total estimated yearly expenditure for the development and square meters for each unit) into the spreadsheet and it would automatically calculate the correct level of charges for each unit. I showed the spreadsheet to a few management companies but not one showed any interest.

It was suggested to me by a number of persons that, if there was a property management company that did things correctly it would thrive

I had found out so much about the joint ownership laws people were coming to me for advice and these people suggested that I should form a property management company that represented owners rather than the developers or their friends who purchased properties from them or companies that did not actually managing developments’ inline with relevant laws.

At the beginning I stated that I needed to find a form of in country income prior to me being able to repatriate to Cyprus, and what I should be doing found me, Professional Communal Property Management, hence the formation of P. Peklivana Holdings Limited.

Due to my bad experiences, I have total EMPATHY with people, understanding that owners' need to be treated with respect and developments managed lawfully and that is why our core values are

CHEER

Confidentiality – Honesty – Equality – Empathy – Respect

Company Registrations & Policy Numbers

Company Registration Number: HE175788

Company T.I.C. Number: 12175788E

VAT Registration Number: 10175788C

Company Social Insurance Registration Number: 1672690/4/6832

Employers Liability Insurance - Progressive Insurance Company Policy Number: HOPREL0001671-00

Public Liability Insurance - Progressive Insurance Company Policy Number: HOPRPL0000802-00

Cyprus Chamber of Commerce & Industry Membership Number: 97105