Solutions Overseas assist owners with forming Owners Associations

Thousands of overseas property owners who have completed on their property approach Solutions Overseas on a regular basis asking for advice on their "community fees". Solutions Overseas recently commented on assisting clients in forming Owners Associations. They began by explaining the concept first hand...

First things first. What can community fees consist of?

Community Fees are divided up among owners in a development and can cover the following:

*Communal Electricity e.g. related to outside lighting, lighting in the individual blocks, lifts, reception area, onsite spa, gym, pool etc.

*Refuse Collection

*Pool accesories e.g. sun loungers

*Gardening and Maintenance

*Communal Security i.e. of the development as a whole and not your individual property

Who decides how much owners are willing to spend on community fees?

The developer arranges these facilities, therefore will have control on what the budget is. Alternatively, Solutions Overseas advises owners to setup an Owners Association to control costs and vote on the annual budget.

What is an Owners Association?

An Owners Association in Europe (it can be structured differently in the USA) is created by property owners voluntarily coming together and forming an Association. The main purpose is to protect the interests of the individual owner, cost control and for owners to have a say in the future of the development.

How can we create an Owners Association?

Owners can start meeting other owners in the development on the Solutions Overseas Facebook page for free and begin to create an Association. Volunteer owners, who wish to be more involved, can put themselves forward as a potential candidate of the board. It is usual to have a President, Vice-President, Secretary and Treasurer. Other owners in the development vote, and the Owners Association Board is created through a majority vote.

How can an Owners Association benefit me?

The duties of the Board include being a voice for the owners as a whole by bringing topics to the attention of owners, organising a vote and feeding the result back to the developer. It is a great way to streamline the flow of communication.

In addition to this, it can be the owners themselves who decide the budget and offer maintenance companies to approach the board with a tender on an annual basis. This allows owners to decide what companies will maintain the development and with what budget. Therefore, it can be a great way for every owner to reduce the cost of community fees.

Commenting on the subject, Corporate Director Jessica Hyde had this to say. "We have built our brand on consultancy and not sales. Therefore this assistance with the creation of Owners Associations is not a shock to most people. We listen to our clients and their concerns which is why we are bringing them together on our Facebook page. The end goal for us is to have happy clients, who enjoy their overseas investment. There has been so much negativity related to overseas property with some people in recent years. And we are here to assist those with positive attitudes and who want to gain something from their investments. We are looking forward to a positive 2010 and we are bringing our clients with us."

For more information you can contact Solutions Overseas through the contact page on their website or visit them on Facebook.