We recently completed our purchase at LOS IRIS and whilst at the notary office I was informed that a service or community charge had not yet been calculated but was estimated to be approximately 1,600 Euro for a 2 bedroom apartment. Carlos also said the owners would have a say in the way the community is managed and the way the money is spent.

On completion we paid 947 Euro in to the community fund which will not be used to manage the community only giving each owner a search in the community. You would then be able to recover this money from a buyer if you sell your apartment in the future. IN THE MEANTIME THIS MONEY ACCRUES INTEREST INTO THE COMMUNITY FUND!

It was explained to me that the handing over of the community would only take place once 51% of the apartments have been sold, then we would have the right to vote for an administration of our choice. In the meantime Groupo C have set up another company and appointed them as the administrator.

It is up to us the owners to make sure that our community fees are being well managed by the administrator by insisting that accounts are independently audited, insuring all services have been tendered for and the companies selected are established with bank guarantees and the correct indemnity insurance’s etc. This must be done with the co-operation of the administrator as they represent your investment.

We should first of all obtain a list of all apartments that have completed and contact each owner to establish who is living on site for all or most of the year and who like myself have purchased their apartment for occasional use or the rental market. Hopefully then someone will nominate himself or herself or be nominated by the community as the voice of the owners to deal with the administrator and the developer to ensure all the services are being provided at value for money.

Darren Wickes