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Cyprus Eastern Forum Index » Ask Nigel A Question » Maintenance fees - villas and apartments
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Maintenance fees - villas and apartments 
Post: #1   PostPosted: Mon Nov 26, 2018 7:46 pm Reply with quote
penfold
Joined: 16 Jan 2007
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Hi

I understand the calculations of maintenance fees for jointly owned properties on a square metre basis, or as decided by the committee with a vote of 75% of ownership but can you explain how communal costs can be apportioned if the development consists of villas and apartments and some of the communal costs need to be applied to the villas. Also should the villas be included in the calculation of the 75% of ownership and the vote.

Thank you for your help with this.
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Post: #2   PostPosted: Tue Nov 27, 2018 6:31 am Reply with quote
nhowarth
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Hi penfold

Regardless of the type of property - apartment, detached, semi-detached, etc. all contribute towards the management fees based on the relative size of the properties.

And the same is true of voting rights, which are based on the 1980 values of the properties.

Regards,

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Maintenance fees villas and apartments 
Post: #3   PostPosted: Tue Nov 27, 2018 12:07 pm Reply with quote
penfold
Joined: 16 Jan 2007
Posts: 25
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Thank you for your reply. Would this mean that villa owners would be expected to contribute a proportion towards the maintenance costs of the apartment blocks? This seems unfair. (I am not a villa owner).

Also I assumed the ownership related to square footage but is it value then?

Thank you
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Re: Maintenance fees villas and apartments 
Post: #4   PostPosted: Tue Nov 27, 2018 12:52 pm Reply with quote
nhowarth
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penfold wrote:
Would this mean that villa owners would be expected to contribute a proportion towards the maintenance costs of the apartment blocks?

Yes
penfold wrote:
Also I assumed the ownership related to square footage but is it value then?

Your Title Deed shows you the percentage of the common areas/facilities you own, which is the amount you have to pay towards their insurance, maintenance, repair, etc.

So if the total annual fees are 5,000 and you own 1.5% of the common areas/facilities, you will pay 75.

Your voting rights, by secret ballot, are based on the 1980 value of the property relative to the 1980 values of the other properties. If the 1980 value of your property is 50,000 and the value of someone else's property is 100,000, you vote counts for half their vote.

If voting is conducted by a show of hands then each unit has one vote.

If you want me to work it all aout for you, contact me via my website -
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Regards,

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Post: #5   PostPosted: Tue Nov 27, 2018 1:07 pm Reply with quote
penfold
Joined: 16 Jan 2007
Posts: 25
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Thank you
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Re: Maintenance fees villas and apartments 
Post: #6   PostPosted: Tue Nov 27, 2018 1:16 pm Reply with quote
FSB Properties
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nhowarth wrote:
penfold wrote:
Would this mean that villa owners would be expected to contribute a proportion towards the maintenance costs of the apartment blocks?

Yes
penfold wrote:
Also I assumed the ownership related to square footage but is it value then?

Your Title Deed shows you the percentage of the common areas/facilities you own, which is the amount you have to pay towards their insurance, maintenance, repair, etc.

So if the total annual fees are 5,000 and you own 1.5% of the common areas/facilities, you will pay 75.

Your voting rights, by secret ballot, are based on the 1980 value of the property relative to the 1980 values of the other properties. If the 1980 value of your property is 50,000 and the value of someone else's property is 100,000, you vote counts for half their vote.

If voting is conducted by a show of hands then each unit has one vote.

If you want me to work it all aout for you, contact me via my website -
Links only visible to Registered Members
Register for Free or Login to the forum.


Regards,


Nigel, my understanding is that your voting rights are based on the %age as shown on the title deeds.

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Post: #7   PostPosted: Wed Nov 28, 2018 7:20 am Reply with quote
nhowarth
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Hi FSB

Section 38I of the law states:

"The share of the owner of the unit in the jointly-owned property which corresponds and belongs to the unit shall be prescribed by the owner of the immovable property on which a building under joint ownership is built and shall correspond to the proportion of the value of this unit in relation to the total value of all units of the building under joint ownership. For the determination of the proportion of a share, fractions smaller than the one hundredth shall not be taken into account:

Provided that the Director may specify a value other than the value of the unit specified by the owner of the immovable property, if he considers that there is discrepancy between this and the real value.

Provided further that the share of the owner of a unit in the jointly-owned property which corresponds and belongs to the unit, in relation to a building for which a building permit has been issued before the date of application of this Law, unless agreed otherwise shall correspond to the proportion of the value of the unit in relation to the total value of all units of the building under joint ownership at the prices as at 1st January 1980 which have been prescribed by the provisions of the Part VII of this Law."


The law goes on to say in Part III of the Regulations

"(1) The proportion of the jointly-owned property belonging to each unit, as provided by section 38I of the Law, and the percentage of votes each owner is entitled to at the voting provided by Regulation 25 shall be set out in a Table in accordance with the form of Table A which is attached to these Regulations.

(2) The share of each owner in the expenses for the maintenance etc. of the
jointly-owned property, as provided by section 38K of this Law, shall be set out in a Table in accordance with the form of Table B which is attached to these Regulations"


Regards,

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Maintenance fees - villas and apartments 
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