In Spain, all multi-tenant communities must be under the administrative and financial supervision of a professional Administrator. The law in which this is laid out is Ley 8/1999, de 6 de abril, de Reforma de la Ley 49/1960, de 21 de Julio, sobre Propiedad Horizontal, and it stipulates that the appointed Administrator of each urbanisation is responsible for the proper and legal administrative management of the urbanisation(s) in their care.
PROTECTING YOUR INVESTMENT
The person or company entrusted with the administration of your community has the following main duties:
- To offer professional guidance and support to the community’s annually elected president and vice president.
- To advise on legal and financial issues relating to the running and assets of the community.
- To manage the urbanisation’s accounts and issue an end of year financial statement.
- To attend, summarise and ratify meetings and the decisions reached at annual or extraordinary meetings of the community of owners.
- To act as a key holder, request quotes for any work agreed upon and manage the process.
- To liaise between homeowners and with third parties suppliers (such as water, electricity and other utilities) when the need arises.
- Advising and informing homeowners of any new laws, decisions, meetings or temporary works.
As with all things, a well-managed urbanisation appears to run itself, always looking spotless, appealing and in sound financial health, yet these things do not happen by themselves but are the product of excellent professional administration and management.
Altavista Property Services has great expertise in this field, with qualified and experienced professionals that will look after your interests as they take care of your community’s administration. What’s more, we provide a multilingual service that ensures you won’t feel left out if you are not fluent in Spanish.