19/10/2023
Communal Property Management Companies in Cyprus.
In Cyprus there has been a big surge in communal property management companies, unfortunately many of these companies have only start because they thought that the business is simply sorting out cleaning and general maintenance of a development’s communal areas, services and facilities, however, it is much more than that.
There is a need for members of management committees and owners to understand and know that not all property management companies are the same, therefore the quality of property management companies can vary tremendously, it's essential to research and choose a company that does not only follow instructions from the members of your management committee who are normally inexperienced owners who have volunteered for one reason or another.
A professional communal property management company will assist the members of the management committee in getting and keeping your development complaint with all laws appertaining to properties with jointly owned communal areas, services and/or facilities.
I really do not want to get into a debate or the ins and outs of what’s right and wrong or what’s legal or illegal however, for management of a development to be truly affective, however, in the first instance there are 5 things that are crucial and any professional property management company should be able to tell you what they are and what is required to action them if they are not in place. However, if you the owners or members of the management committee do not know what these 5 points are how are you supposed to know which management company to select.
Before I tell you what they are I’m interested in finding out if there are any owners or member of a management committee that can tell me what these 5 things are. If a member of a management committee answers my question, then there are only 4 points that need addressing.