Obligations for transparency of a Propert Management Company

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Irvin
Posts: 1
Joined: 06 Feb 2024 02:08

Obligations for transparency of a Propert Management Company

Post by Irvin »

I am the owner of a property on a small Pafilia built complex in Kissonerga. Many of the owners are absent abroad renting out their properties long term and others just want an easy life, so there is no interest in forming a management committee. Since the complex was completed in 2008, we have relied on Pafilia and subsequently Blue Orange for our property management. My concern is with the lack of information Blue Orange are prepared to provide of costs and charges and the general lack of transparency. For example, we recently had a leak on a communal irrigation water pipe. It had to be dealt with urgently and we were given a price of 730 Euros plus VAT in advance of the work. I saw the work being carried out and thought we had been overcharged. I have subsequently asked for information in how the price was calculated and the best I can get is a split between labour and materials, without any detail e.g. how many man hours were estimated. Basically, I am just fobbed off. We have had the same issue in the past over the main drainage connection and repainting works. Blue Orange always want to sub contract the works or carry the work out themselves and we are never offered competitive quotations. My question is: what obligation does the property management have to provide sufficient information to show that their charges are fair and reasonable? Is their a legal requirement and what pressure can be applied to get them to be transparent?
Nigel Howarth
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Re: Obligations for transparency of a Propert Management Company

Post by Nigel Howarth »

Hi Irvin and welcome to the forum.

As it's a legal requirement for communal buildings comprising four or more units to have a Management Committee, I urge you and other owners to set one up a.s.a.p. Information on how to go about this + the MCs & owners rights and obligations may be found in the law, which you can find at https://www.news.cyprus-property-buyers ... gs-law.pdf

The MC can consist of any number from one to five people. And it has the ability to "employ persons or representatives and pay to them a reasonable remuneration, as it considers necessary." This enables them to employ Blue Orange (or any other company) to provide the required services.

As for what information, etc. Blue Orange is required to provide, that will be contained in the written agreement between the MC and Blue Orange.

It sounds as if there's no agreement and 'someone' on your development has approached Blue Orange to do whatever's needed, possibly with nothing in writing.

(From what you say, I expect Blue Orange has no tradesman to carry out the works and employs various companies to undertake the work.)

Regards,
Nigel Howarth
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