A property manager is a professional who is responsible for managing, at the request of the owners of rustic or urban properties, or by decision of a board of owners, financial affairs, legal and technical requirements for the maintenance and economic management of the same. The Law requires that the Board of Owners meet at least once a year “to approve budgets and accounts” (art. 16.1 LPH) and the arts. 9 and 17 (implicitly) and the 20 refers to the functions of the administrator, including community accounts, and, so, his take and surrender. F: Wikipedia

The rendering of accounts of a community is an action that is obliged to be carried out by any person who manages the administration of other people's assets.. You must expose in it the state of the managed property and the steps taken for the conservation, also indicating everything he has done in the performance of his duties, all the expenses you have incurred and all the income you have received, as well as to render an explanation of all the commitments that it has assumed before third parties.

But to what extent do Property Administrators, we are required to provide information to only one owner?

The review of the accounts or documents of the community, You cannot be requesting at any time and with the minimum pretext to the minimum of change, that is to say, there must be a serious cause, objective and precise.

As administrators of estates we are not obliged to account for our management individually with any owner.. We must indicate that we are only obliged to do so in front of an ordinary annual meeting, this, endorsed as stipulated in the article 20 of the horizontal property law. Also clarifying that we are talking about general accounting information or a rendering of a particular account of an owner.

That is why the administrator of your community must always make it clear that they will hold an annual meeting where they will present everything related to the accounts and the procedures and incidents that have been carried out in a certain period of time..

In what cases could an owner demand explanations of the accounts of your community?

Next, We list some cases, which are usually the most common, with whom you could request this information and that could even cause disagreements between the neighbors:

  • Bad or fraudulent management of the economic funds of the community.
  • That the administrator does not present at the meeting all the documents related to the expenses of the financial year (bills, investments, spill, etc.).
  • Expenses that do not require board approval (Article 10 of the Horizontal Property Law) and of which detailed delivery of the documents related to the works carried out after.

It is at these points, where mainly you can consult individually and ask to review the situation of the community accounts without any inconvenience, checking beforehand that this information has been omitted, is incomplete or confused, why, Only then would it be justified to request access to said management.

In case you find yourself needing to request any document, It would be advisable to do it prior to the annual meetings and even before any payment of the expenses that are planned to be made is made.. In this way you can talk to the rest of the community members and make the matter clear.

A property administrator who manages the community of owners in a transparent manner and without bad practices, He does not delay in giving explanations and presenting all the necessary documentation to clarify any doubts that may arise..

However, if you believe that a bad action is being applied in your community in the management of funds, Do not hesitate to request everything you think is necessary to get rid of doubts.. Please enable JavaScript in your browser to complete this form advocating always for a totally transparent management and ready to serve our customers as they deserve.