What has happened? A proposal has been submitted to the Parliament of Cyprus for legislative changes aimed at changing and improving the management of jointly owned buildings.
Key changes:
- The establishment of a Registration and Supervision Service for Jointly-Owned Buildings. Оne of the main tasks will be creating a registry of Jointly-Owned Buildings. Currently, there is no comprehensive record of such buildings and their operational status.
- The Service will have the authority to impose administrative fines on both management committees and property owners for violations. The Service will also have the ability to approach the court unilaterally to request an order for the removal of illegal alterations or irregularities within a building (like unauthorized balcony enclosures, construction without permits, or alterations without the proper legal basis).
- Expanding the scope of who can participate in these committees should be considered beyond property owners alone. The draft legislation currently restricts committee membership to owners. However, it might be beneficial to allow first-degree relatives of owners to participate and even individuals with qualifications in property management/
- The new requirement for management committees to provide proof of payment of common expenses to relevant government departments, when necessary, for activities such as property sales, transfers, mortgages, or rentals.
Source: Cyprus Property News
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