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IS A COMMITTEE NEED FOR A COMPLEX OF 5 PROPERTIES
Posted: 21 Apr 2011 20:29
by 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
Re: IS A COMMITTEE NEED FOR A COMPLEX OF 5 PROPERTIES
Posted: 22 Apr 2011 06:17
by 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,