**Jointly Owned Buildings Need Urgent Reform, Georgiades Says**
The vice chairman of the Cyprus Real Estate Developers Association, Savvas Georgiades, has called on the newly elected House of Representatives to prioritize reforming the management of jointly owned buildings, emphasizing that this issue has become a critical public safety concern. Georgiades expressed that years of inaction have left countless residents vulnerable to inadequate maintenance, ineffective management, and deteriorating living conditions.
In recent months, the urgency of addressing the management of jointly owned buildings has intensified, according to Georgiades. He highlighted that many buildings are currently grappling with significant maintenance and management challenges, which not only threaten the value of properties but also jeopardize the safety of their inhabitants. Poor oversight and a lack of proper controls have led to the serious decline of numerous buildings, raising alarms about the well-being of residents.
Georgiades pointed to the Management of Co-Owned Buildings and Related Matters Law of 2023 as a vital piece of legislation that must be prioritized by the new parliament. He criticized the existing legal framework for being outdated, stating that it does not adequately meet contemporary needs or market dynamics, particularly regarding the collection of communal fees, enforcement of decisions, and ensuring proper building maintenance.
To address these issues, Georgiades proposed the establishment of management committees as legal entities. He argued that this change would provide a more structured and authoritative approach to building management, enhancing the effectiveness of these committees. Additionally, he emphasized the importance of creating mandatory reserve funds, which could serve as a financial safety net for future maintenance, upgrades, or emergency repairs.
The urgency of these reforms has been underscored by recent tragic events, including a building collapse in Limassol that resulted in two fatalities. This incident, along with the evacuation of other apartment buildings across Cyprus due to safety concerns, has made it clear that immediate action is necessary. Georgiades stated, “There is no longer any room for further delays,” stressing that regular maintenance and effective management are fundamental to ensuring the safety, value, and sustainability of the country’s building stock.
Furthermore, Georgiades called for the implementation of stronger mechanisms to monitor and assess the suitability of buildings. He stressed the importance of early identification of structural problems and risks, which could prevent issues from escalating into more serious hazards.
In conclusion, Georgiades asserted that the promotion of the bill concerning jointly owned buildings is not only a matter of legislative urgency but also one of public interest and social responsibility. He urged lawmakers to take immediate action, modernize policies, and establish a clear institutional framework to ensure that jointly owned buildings are managed, maintained, and supervised effectively. The safety and well-being of thousands of residents depend on these reforms, making it imperative that they are addressed without further delay.