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Banks skip community fee payments

PUBLISHED: March 7, 2013 at 10:34 am  •  LAST EDITED: March 7, 2013 at 10:34 am
Andalucia, Business & Finance, Property  •  2 Comments


Banks skip community fee payments

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BANKS which have repossessed the homes of their clients have been failing to pay for the properties’ upkeep.

According to the Association of Property Administrators, Spanish banks in Malaga alone owe €9 million in community fees.

This money is vital for general upkeep and maintenance costs.

The debt from banks is estimated to be about 16% of all unpaid community debts in the province totalling around €61 million.

According to administrators, the condition of apartment blocks and developments could be at risk as a result.

Fernando Pastor, head of the Malaga branch of the association, said: “Residents are feeling indignation, especially in cases where they have watched their old neighbours being evicted from their homes because they couldn’t pay the banks.”

In some communities, remaining tenants have had to cut down on services like cleaning, maintenance, lighting and gardening in order to meet the costs of their upkeep.

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Mike

April 1st, 2013 4:58 pm

The community President has the power to issue embargo on owners. Just do it.

Maria "expat expert"

April 21st, 2013 11:45 am

This article shows the reality of many communities in Málaga.
I talked from my experience. I used to work in the administration of a condominium in Benalmádena.
Since 2007 many apartments in this building have been repossessed by the banks. I dealt with many of them asking for the community fees. The official answer was “wait until we sell the property to a third party”. In a quiet market this situation could last for years….Raising the community fees is the only way for this building to keep up with the overheads. Sounds unfair isn’t it?

I would be happy to help anyone in this type of matters.
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