IS A COMMITTEE NEED FOR A COMPLEX OF 5 PROPERTIES

[Lesley Boyce]

I HAVE OWN PROPERTY ON A COMPLEX OF 5 PROPERTIES WITH 5 INDIVIDUAL OWNERS, DO WE HAVE TO HAVE A MANAGEMENT COMMITTEE OR JUST A GENERAL BANK ACCOUNT WHERE WE ALL PAY IN EQUAL AMOUNTS ANNUALLY TO COVER ELECTRIC, POOL CLEANING & WATER BILLS THAT ARE PAID BY DIRECT DEBITS AS AND WHEN

[Nigel Howarth]

Hello Lesley & welcome to the forum.

Yes - your complex should be registered as a 'jointly-owned building' and it should have a management committee. You can read more about this at 'Managing Cyprus apartments and building complexes'.

(This is assuming that your development is relatively new).

Regards,