Community Fees – Introduction
In Spain a large number of properties share certain services and other elements with other properties. Owners of such properties must pay community fees towards the upkeep, improvement and maintenance of these shared components. For example you may share a lift up to your apartment which will incur running costs and require regular maintenance. You may live on a resort with communal gardens which need to be kept or communal swimming pools and so on. Whether you are looking at apartments for sale in Spain or villas to buy in Spain it is important that you check whether or not you will have to pay community fees.
Failure to pay your community fees can result in serious consequences. In extreme cases if you were to miss payments over a long period of time you could be forced to sell your property at auction to pay off missed payments. It is therefore incredibly important you pay your community fees on time and in full.
The frequency and dates payments are due varies from community to community. Some may require a monthly payment whereas others may ask for the money quarterly or even bi-annually.
What do Community Fees Cover in Spain?
It is important that you are aware of what your community fees cover. What is covered will depend on the community but in general they will cover any of the following.
- Electricity and water
- Communal swimming pool maintenance
- Communal garden maintenance
- Cleaning of all communal areas
- Maintenance of shared lifts
- Other professional services such as concierge, security etc
- Insurance for all communal elements
How Much are Community Fees in Spain?
When purchasing a property in Spain the cost of community fees will depend on a number of factors including the size and age of the property and of course what services are on offer within the community. Therefore it is impossible to say how much community fees will be. They could be as little as €400 a year or as much as €4000.
A small one bedroom apartment in an older development with community gardens is clearly going to cost significantly less than a high end development of luxury apartments with communal swimming pools, gyms, play areas and 24 hour security. Several communal swimming pools which require daily maintenance for example will of course contribute to higher fees.
Because community fees vary as much as they do it is important you are aware how much they are before purchasing a property in Spain so that you can take the cost into account.
Your agent in Spain will be able to tell you how much community fees are for any community properties you may be interested in.
Can Community Fees Change?
Technically, yes. However, fees can only change if a majority of owners vote for this. Therefore in reality it is highly unlikely that fees will go up by more than inflation as it is highly unlikely owners will vote in favor of a price increase.
We hope you have found this information about community fees in Spain informative. If you have any additional questions about this or anything else then please do not hesitate to contact us at Movehappy. We are always here to help.
