Property Communal Fees in Cyprus
Property Communal Fees in Cyprus
Communal fees allow owners of building complexes to ensure that the shared facilities of their properties are properly maintained. This is one of the main reasons why they can often be so beneficial. These communal costs can also be used to cover insurance and help restore and repair a facility if any damages occur. Those living in these complexes won’t have to suffer from prolonged issues – and with repairs able to be taken care of efficiently, they may even enjoy an improved quality of life.
Calculating Cyprus complex fees can be important for owners on the island; whether it’s an apartment building in question, or any other type of complex that has common areas and shared facilities.
As soon as an owner takes delivery of an apartment block, they’ll need to start paying communal fees for it. Typically, Cyprus council tax will cover insurance, management, maintenance, repairs and other operations on the building, ensuring that the owner won’t have to worry about their property being in good shape even if they have to take time away.
Those who own other types of complexes with shared facilities, for example a tennis court or swimming pool, will also be required to pay communal fees. Most will agree that this isn’t much of an issue, since most property owners will want to ensure that their entire complex (from common areas, to shared facilities) are not only properly maintained, but also decorated sufficiently to boost the value of the building and the appeal to both short term, long term and even holiday rental markets.
The advantages of these fees
Most types of complexes in Cyprus require communal fees and fortunately, the benefits of paying these tend to outweigh the potential negatives. For example, it generally allows property owners to leave the maintenance requirements of their complex to other individuals without having to worry about sacrificing the value of the development, or the satisfaction of the occupants.
This can also allow them to focus on other aspects of their business (or businesses), or of their regular day job (if property rental is a sideline).
These costs may not always be low, but for most individuals they’re considered more than worth the outlay.
What will the communal fees cover?
Those who will be charged with these fees may be unsure of how much they’ll need to pay and what their money will actually be used for. The overall cost will generally be determined by what needs to be taken care of, so understanding what parts of a complex are covered by communal fees is a good place to start. A few of the most common examples include:
Communal areas on the complex
All communal areas in the complex (ranging from shared staircases and pathways, to any roads on the development) will add to the overall amount of cash that a property owner will be charged for their shared property fees. It’s important to note that the operating costs of the area can mildly affect the fees on these types of fixed assets.
The property itself
There are many parts of a complex that may attract these kinds of fees. The roofs of a building for example are considered to be a communal asset, as they may need protection and/or repairs against a variety of issues, such as water damage. Another set of costs that a property owner should expect to pay for are general renovations to the exterior of the complex.
The building’s utilities
While occupants will often have to pay for their own utilities, the owner will need to pay separate bills for stairwells, passageways and other shared parts of the building. Communal fees include several utility costs, like electricity and water. Shared showers, taps and the water fed into the communal swimming pool are just a few examples of the fees that may need to be paid.
Almost all apartment blocks in Cyprus have elevators – after all, these types of buildings often house elderly people, which can make them a huge selling point. Elevators will often come with high communal fees, as they tend to have high maintenance needs, host a great deal of power consumption and more.
Other assets that Cyprus communal fees can cover
While not everyone will be charged for these things, it’s important to note that an owner of a complex with the assets listed below are likely to have additional fees.
· The maintenance, cleaning and insulation of roves (although this may not be the case if it’s registered as a private roof terrace)
· General cleaning needs in communal areas
· Any gardening requirements that the complex may have
· Costs of an irrigation system for green areas
· Service and electricity of an electric gate
· The salary of the security guard, swimming pool lifeguard and other workers
· General maintenance needs caused by natural damages
· Cleaning and painting of the communal parking space
How to calculate shared communal fees
Most will find that it’s not at all difficult to calculate the shared complex fees that they’ll need to pay for their newly acquired apartment block. Most people will find that they’re charged depending on the size of their property in square meters. This includes both the overall size of the units on the complex and any uncovered areas, like verandas and balconies.
This is decided by Cyprus’ communal property law, so they’re likely to provide individuals with all of the information they’ll need to ensure that they’re paying the appropriate amount of money.
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