|
The majority of property sold in Tenerife are located on Complexes which are run by the community of owners. The owners elect a committee each year which run the community. The committee also elect an Administrator who administers the community. There are community rules which have to be adhered to for such things as swimming pool regulations, cleanliness, noise, exterior colour schemes of property and minor things such as no towels on railings. The community also negotiates such things as cleaning, swimming pool maintenance etc. They also have rules regarding letting of your property. On Residential complexes you are allowed by Spanish Law to let your property to family and friends only for holidays or short periods of time, for long term letting you can let your property to anyone. If your complex has a touristic license then you are allowed to let your property as a business to anyone. All property owners have to pay monthly community fees, the amount depends normally on the cost of the upkeep of the complex and the facilities it offers. The more swimming pools it has, heated swimming pools, lifts, gardens, reception areas and staff the more the monthly fees are.
Other things that have to be taken into account when you become a property owner in Tenerife are Water and Electric Bills, Basura (Rubbish Collection) and IBI (A type of annual council tax). When you purchase your property all these bills have to be transferred into your name and direct debits set up. It is imperative that your solicitor confirms to you that the previous owner of your property has brought all these bills up to date prior to Notary otherwise you will have to ultimately pay them. The water and electric bills are normally issued every two months and the Basura is every six months. The IBI is every year and you have to pay your first bill in person and then set up a direct debit. In Tenerife the rubbish is collected every day. After Notary you should instruct your solicitor to contact all the above and change them into your name and set up the direct debits, once set up everything should run smoothly.
|
