Common Costs
Posted: 20 May 2014 10:03
Help needed please regarding common costs.
We have had a holiday flat in our complex for many years. The common costs were initially collected via the developer. Some 8 years ago certain owners decided that the costs were too high and that the complex would be better served by a own management committee. We were advised that this was all being done legally.
It has now been discovered that this was not the case as we believe not the required 75% of owners consented, the Committee was not registered , the common areas have never been insured and within a short space of time all the members of the committee had resigned for various reasons. All this information has been taken from papers secured from the solicitors acting on behalf of the Committee.
Since that time the majority of owners have never paid their common costs. Until now the pool, being the most used common facility, has been maintained by funds from those few owners actually paying the common costs with regular shortfalls being borne by a very conscientious Cypriot owner out of his own pocket!!
My questions are - where on earth do we now stand –
1 -the situation regarding the shortfall cannot be allowed to continue and there are no longer enough funds remaining to maintain the pool. If it is drained it becomes a safety hazard and if left untreated it becomes a health hazard.
2 – the buildings are not insured
3 – there is no management committee & none of the owners are interested in forming a committee as most are mainly absentee owners.
HELP – just HELP. Is there such a thing as an administration company that would undertake to act as a management committee and resolve all of the above??
We have had a holiday flat in our complex for many years. The common costs were initially collected via the developer. Some 8 years ago certain owners decided that the costs were too high and that the complex would be better served by a own management committee. We were advised that this was all being done legally.
It has now been discovered that this was not the case as we believe not the required 75% of owners consented, the Committee was not registered , the common areas have never been insured and within a short space of time all the members of the committee had resigned for various reasons. All this information has been taken from papers secured from the solicitors acting on behalf of the Committee.
Since that time the majority of owners have never paid their common costs. Until now the pool, being the most used common facility, has been maintained by funds from those few owners actually paying the common costs with regular shortfalls being borne by a very conscientious Cypriot owner out of his own pocket!!
My questions are - where on earth do we now stand –
1 -the situation regarding the shortfall cannot be allowed to continue and there are no longer enough funds remaining to maintain the pool. If it is drained it becomes a safety hazard and if left untreated it becomes a health hazard.
2 – the buildings are not insured
3 – there is no management committee & none of the owners are interested in forming a committee as most are mainly absentee owners.
HELP – just HELP. Is there such a thing as an administration company that would undertake to act as a management committee and resolve all of the above??