Communal Service Charges

& 

Consultancy Services for Management Committees

Self Management Via Committee

In the Republic of Cyprus when a property is purchased if that property is in an apartment block or on a complex or estate which has communal areas, services and/or facilities the new owners did not just purchase a property, they also purchased a percentage of all the communal areas, services and facilities on that development and these services have to be managed by someone and every owner has to contribute towards all expenditure, even if their property is empty and unused.

In past years it was relatively easy to manage a Private Estate, Complex or Apartment Block, nearly all owners were permanent residents and everyone lived together like small communities, a few people accepted responsibility of looking after the Private Estate, Complex or Apartment Block and everyone contributed to the communal expenditure.

Things have drastically changed, more and more people from all over the world have invested in Cyprus properties as holiday homes, second homes or as buy to rent properties.  These non-resident owners are in most cases completely unaware that they are required to contribute to the upkeep of communal areas of their Private Estate, Complex or Apartment Block.  In some cases, more than 80% of owners are non-residents who cannot be easily contacted.

With the exception being small apartment blocks without any services or facilities, correctly managing a Private Estate, Complex or Apartment Block (especially if the development has large grounds, swimming pool and a host of other facilities) is now a full-time job; so many developments are managed via property management companies. 

This is mainly so, because when owners try to fully self-manage their development invariably, they are successful at the beginning because in the first instance everyone is enthusiastic and willing to help however, things soon start spiralling out of control.

Managing your own development can work as long as there is a professional structure in place.  Unfortunately, most members of management committees do not have the knowledge or experience to establish this structure, therefore things can escalate out of control very quickly, especially if there are non-payers on the development .

Help is at hand

We at P. Peklivana Holdings Limited are here to help and assist management committee members to self-manage their development. 

Our management committee consultancy service will aid management committees of apartment blocks, complexes and estates, to establish the correct structure to include appropriate processes and procedures for thier development so they can successfully self-manage.

Using our extensive 17 years of experience and knowledge we can custom-build a management package that aids management committees in managing their development correctly, fully, legally and professionally.

The bespoke management package will allow management committee members to fully manage their development without them having to be experts in property laws or property management.  All they will have to do is input a few simple figures and everything else will be calculated for them legally, correctly and automatically.

For Single Individual Apartment Blocks The Basic Management Package Incorporates. 

• Calculation of percentage ownership in accordance to the law (Development Table B Percentages)
• Calculation of estimated communal expenditure for financial year/period
• Has facility to include short-, medium- and long-term maintenance fund collections
• Calculation of what each unit has to legally contribute towards communal expenditure
• Beginning of financial year’s payment requests for each and every unit owner
• Communal debit and credit balances sheets
• Balance sheet showing individual units annual charge, payments received, balances due/overdue
• Facility for individual unit monthly statements - Overdue letters - Final notice letters
• Owners’ information and contact details
• Multiple payment methods allowing owners to pay their fees irrespective of where in the world they live
• Setting up of a management committee development bank account
• Development letterhead
• Printed copy of the principal laws governing jointly owned properties (Greek and English)
• Communal Building/Fire insurance
• Communal areas Public Liability Insurance

Templates for Annual General Meeting of Owners

• Meeeting Notifications
• Proxy forms
• Calculation of Development Table A percentages (Owners voting rights and quorum percentages)
• Quorum calculator
• AGM minutes (which have to incorporate specifics  allowing management committee to establish bank account and access to that bank account)

As much assistance as require to implement the system

For Large Developmen or Complexes with multipal apartment blocks and/or houses it is slightly different

 To includes all the above plus

• Establishment of cost centres so no one pays for anything that they do not own
• Calculation of multiple Table Bs. (One per cost centre)
• Owners of each cost centre pays their cost centres Table B percentage towards their cost centres expenditure and everyone contributes to the complex expenditure using the complex Table B percentages

This sounds complicated however our program completes all the correct calculations seamlessly

it then also produces all the relevant needed paperwork for each and every owner

In addition to the above we will advise on: 

• Risk Assessment
• Health & Safety
• Data Protection Act
• Lift Regulation
• Swimming Pool Regulations
• Collection of Communal Service Charges
• Debt Colllection and Legal Action
• Legally Required Owners Financial Reports