Cyprus Property Forum for Buyers, Sellers & Investors

If we want to have a vote to legalise our current fee allocation method, of charging by the number of bedrooms,
Can we legally have the vote by an on-line ballot, (very few owners are actually resident in Cyprus)?
If we must follow the letter of the law, could we pre-empt the fee calculation method in the draught New Immovable Property Law which allows calculations based on "the covered terraces and balconies participate with a percentage of 40% of the contribution rate of the covered space, and the uncovered terraces and balconies participate with a percentage of 20% of the contribution rate of the covered space" (Part 1V,21 (2). This seems a much fairer method, or if we have to change, should we just go with the current legal fee calculation method and then change again when the new law comes into practice?
We just want everybody to be happy and keep paying their fees!.

Thank You

Willow Tree

Hi Willow Tree

If you want to legitimise your current method of calculating fees, if people are unable to attend, they'll have to vote by proxy as described in the law.

As you'll be changing the regulations, you'll need 75% of the joint ownership to vote in favour of the change - and the revised regulations must be OKed by the director before they can be implemented.

As for the much-awaited 'new' jointly-owned building law, it is still in committee stage and it would be unwise to second-guess what will be in the final version that becomes law.

Also, be warned - as your currently charging based on the number of bedrooms, people can refuse to pay (as it's illegal) and there's nothing you can do about it.

Regards,