By Vasilis Artemiou
- Licensed Real Estate Agent
- Real Estate Appraiser and Second Vice President of the Cyprus Association of Real Estate Agents and Entrepreneurs
The current reality of multi-unit buildings is familiar to anyone who lives in or owns a property in an apartment building or complex. Unpaid common-area fees, difficulties in decision-making, inadequate maintenance, and disagreements among owners are often part of daily life.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
These shortcomings do not merely affect the operation of an apartment building. When maintenance is delayed and problems pile up, the consequences can affect the very safety of the building. At the same time, the quality of life for tenants, the building’s appearance, and, inevitably, the value of the individual units are all affected.
The incidents of building sections and balconies collapsing that we have witnessed in recent years serve as a wake-up call. Prevention, regular inspections, and timely maintenance cannot depend solely on whether owners manage to reach an agreement among themselves each time.
Since this issue affects thousands of owners and tenants, concluding the debate and promoting a modern legislative framework for condominiums must be a priority during the new parliamentary session.
We need a modern framework
The existing legislative framework has proven its weaknesses in practice. We need a framework that addresses the real needs of today’s condominiums and provides clear rules for everyone.
The new legislation must facilitate the adoption and implementation of decisions by management committees, strengthen mechanisms for collecting common expenses, clarify the obligations and responsibilities of owners, and enhance transparency in financial management.
At the same time, it must create the conditions for better oversight and more systematic maintenance of buildings. It is not enough to intervene only after a problem has already become serious. Prevention must be a fundamental part of how we manage our building stock.
It is therefore necessary to give this issue the attention it deserves so that the review of the new framework can be completed as soon as possible and the relevant legislation can be brought to a vote. There is no room for further delays on an issue that directly affects the safety of thousands of citizens.
Professional management is part of the solution
Entrusting management to professionals with the necessary expertise and experience can substantially improve the way condominiums operate in Cyprus.
Managing an apartment building is not limited to collecting common-area fees. It involves coordinating maintenance and repairs, collaborating with technicians and other professionals, effective communication with owners, transparency in expenses, record-keeping, and the timely resolution of issues.
At the same time, as buildings become more complex and requirements regarding safety, energy efficiency, and sustainability increase, the need for knowledge, organization, and professionalism becomes even greater.
Technology has now become an important ally in this effort. Modern digital tools can facilitate financial monitoring, keep owners informed, record and track maintenance work, and, more generally, enhance building management.
Technology, however, is not enough on its own. Effective management still requires a human presence, experience, accountability, and the ability to promptly address the various issues that arise in the day-to-day operation of a building.
For this reason, owners and management committees must carefully evaluate whom they entrust with the management of their property. Choosing reputable and well-organized professional firms that operate according to specific standards and, preferably, are members of the Association of Condominium Managers, can provide an additional level of reliability and professionalism.
Managing a condominium involves significant financial, technical, and practical responsibilities and cannot be treated as a mere administrative task or delegated without the necessary criteria. Selecting the right professional is part of protecting the building itself, as proper management is a key factor in maintaining a property’s value over time. A prospective buyer not only evaluates the apartment they intend to purchase but also examines the condition of the entire building, its level of maintenance, its financial management, and, overall, how it operates.
No more time to waste
The problems with multi-unit buildings are well known, the weaknesses of the existing framework have been documented, and the need for reform has been recognized. What is needed now is coordination and accountability from all stakeholders so that the reform can not only be passed but also effectively implemented in practice.
The Government, the House of Representatives, the EOA, and all relevant bodies must work closely together to clearly define responsibilities, guidelines, and the necessary steps.
The new parliamentary session is an opportunity to finally resolve an outstanding issue that has affected thousands of citizens for years. A substantive reform can create a new culture in the management of multi-unit buildings, with greater organization, transparency, and prevention, and with a greater emphasis on safety, quality of life, and the protection of property.
Time is running out. Inaction has consequences. Now is the time to make decisions.
