Owning a property in Spain comes with not only rights but also responsibilities, especially if you are part of a community of owners. In this post, we provide a basic guide to understanding how these communities work and what you need to do to fulfill your obligations as a property owner.
What is a Community of Owners?
A community of owners is an organization made up of all the owners of the different apartments or commercial premises in a building or residential complex. Its main objective is to manage and maintain common areas and services, such as elevators, gardens, and pools.
Structure and Functions of the Community
- President and Board of Directors: The community elects a president and, in some cases, a board of directors responsible for the day-to-day management and representing the owners.
- General Assemblies: At least once a year, a general assembly is held where important issues are discussed, such as the annual budget, major repairs, and the election of new officials.
- Common Fees and Expenses: All owners must contribute financially to cover common expenses. The fee is determined based on each property’s participation quota, which is calculated according to the size and characteristics of each unit.
Owner’s Responsibilities
As a property owner, you have several key responsibilities within the community:
- Payment of Fees: You must pay the monthly or quarterly fees established by the community on time. Failure to do so can lead to legal penalties and surcharges.
- Respect for Internal Rules: Each community has its own internal regulations that govern aspects such as the use of common areas, noise, and renovations in the apartments. It is essential to comply with these rules to avoid conflicts.
- Participation in Assemblies: It is important to attend the general assemblies to stay informed and participate in decisions that will affect your property.
If you do not live permanently in Spain, it is advisable to appoint a legal representative who can manage your obligations in your absence, such as paying fees or attending assemblies.
Being part of a community of property owners in Spain involves a series of responsibilities that you must fulfill to ensure peaceful coexistence and protect your investment. Stay informed and actively participate in community life.