Cyprus Property Forum for Buyers, Sellers & Investors

We will be moving from being managed by our developer to a management company. Under the developer, our fee structure was according to the number of bedrooms. If we want to keep it that way under the new management, what do we have to do to make it legally acceptable?
Thanks in advance.

Hi WillowTree

I assume you and the other residents/owners have already set up a Management Committee (MC)? If not you will need to do this strictly according to the law.

After the MC has been established, you will have to take a vote to change the fee structure and revised the standard Regulations contained in the law. Once the Regulations have been approved, the MC will need to register it with your local Land Registry Office.

You can find an English translation of the relevant law, including the standard Regulations at https://property-11519.kxcdn.com/wp-con ... gs-law.pdf

Regards,