Drafted by the Department of Lands and Surveys and the Commissioner for Legislation the draft bill for the management of jointly owned buildings aims in solving management, maintenance, and operation issues of communal buildings.
The first important change is the expansion of the bill’s application. The draft bill aims to expand the general scope of application of the existing bill from registered-only, to all jointly owned buildings that have a building permit, partition, and certificate of approval. In addition, a significant modification is the introduction of an agency for the registration of jointly owned buildings and the supervision of Administrative Committees’ operations. This change, if adopted, aims to ensure a better system of checks within the Committees, and the smooth enforcement of the new bill.
A further proposition to ensure better management of jointly owned buildings is the adoption of internal regulations determining the rights and obligations of owners. Α management committee for the jointly owned building could also be registered and will have the authority to incur reasonable and necessary expenses for the maintenance, management, and operation of the building’s common areas that the building owner neglects. The management committee will have the option to sue the owner to recover the expenses necessary.
The draft bill aims to provide a solution for a number of complaints made by residents. A common issue has been the neglect of buildings by their owners which could potentially result in issues of safety and security. A further issue has been the miss-payment of maintenance fees by residents and the lack of insurance for the establishment. By giving the management committee powers enforceable by law the draft bill provides an answer to the aforementioned complaints.
Our firm represents clients ranging from international property companies to homeowners. We act for property funds, residential and commercial developers, private investors, and lending institutions. Our lawyers stay on top of legal changes and can advise homeowners and residents of their obligations in a jointly-owned building setting. By using our in-depth knowledge of changing market conditions and our technical expertise we are dedicated to providing a practical and commercial approach to a wide range of property matters.