COMMUNITY FEES-WHAT SHOULD A COMMUNITY EXPECT FROM THEIR ADMINISITRADOR?
This a popular question asked by many Community Presidents and their property owning members writes Tom Parkinson of Jacksons Administradores SL.
The recurring reason for this is mainly due a lack of transparency in the Administrator’s operation or simply down to some administrators not providing the service expected of them.
There is also a difference of opinion in interpretation as to the ambit and extent of the Administrator’s role. For example should he provide basic accounting services including service charge invoicing? Should he be responsible for instructing and liaising with solicitors instructed to pursue non–payers? Some administrators have a comprehensive, ‘hands on role’ which is the style usually found in North European practices.
As a President you should also insist on a detailed appointment or engagement letter listing the Administrator’s services which will be provided. This document should include details of the Administrator’s fees and disbursements prior to seeking the member’s approval for his appointment.
The type of service we offer in our engagement letters includes: full accounts procedures, service charge invoicing and collection in the most cost effective manner, monthly debtor and creditor reporting, quarterly management accounts with annual audited accounts.
We also offer monthly visits to the Community to inspect and draft maintenance schedules with budget costings and the financial timing projections for the works. We also make ourselves available once a month at the Community’s premises to enable members to discuss in private with the Community board their questions. In addition we have monthly meetings with the Community board to discuss all matters arising from the Community with regard to both financial and operating issues.
Finally a Community website can be useful. It can provide access for all Community members which will act as a multi-lingual information centre, providing members with an immediate source of historical data with regard to meeting minutes, orders of the day with details of forthcoming meeting dates and agendas. In addition the website can include the Community’s financial information with periodic updates and a news section for current issues.
The positive effect of a website can be seen quickly with members who do not live full time in the Community. It will enable them to establish the facts first hand while at their other home. They will also have notice of forthcoming official meetings which gives them the opportunity to vote by proxy. Full time members benefit from the same transparency and all members are able to communicate quickly with their board. The site also serves as a medium to bring Community members together which in turn leads to less disputes and a better Community payment record, with both on-line Visa /MasterCard and PayPal payment facilities.
Put shortly many property buyers in Spain do not appreciate some of the pitfalls of property ownership in Spain or how European legislation can help keep your community cash flow running smoothly.
For one day only Tom Jackson of Jacksons Administradores S.L. www.jacksons-group.com) and Solicitor Jeremy Boyle of Welbeck Law LLP (www.welbecklawllp.co.uk) will be delivering a seminar at Hotel IPV Beatriz Palace at 12 pm on 4th April 2013.
If you are a President or Vice President or if you are on the Community Board please call 952 468967 or email info@welbecklawllp.co.uk to reserve your free space. Please note that due to popular demand places are limited and are offered free of charge but on a first come first served basis.
Venue: Hotel IPV Beatriz Palace.
Ctra. A7. Km. 207
29640 Fuengirola
Málaga -Costa del Sol
Andalucía - España