Residencial Playa Flamenca X

At the 2018 AGM it was agreed to put our reserve funds (to be used in the event of an emergency) into an interest-earning deposit account. Although this may be possible to do in several countries in Europe, in Spain it is not only impossible; any account we have incurs charges. I have been asked by a house owner what we have done to implement the AGM resolution. The simple answer is nothing. I am not prepared to open a second account which will drain our community of funds with additional bank charges. The last thing I want to see is our money being drained by the banks. Our administrator knows of our need to build an effective reserve and administers our funds with this in mind. However, if any owner knows of a bank which is prepared to pay interest on a deposit account I would be interested to hear the details – provided that it does not put any of our community money at risk.

Our Administrator (AGM) has sent the following message about Community Fees :

“We inform all owners who pay their fees by direct debit in Playa
Flamenca X, that today we proceeded to take read more

I have been made aware of a criticism that our governing body has not raised community fees during the three years of my presidency and that a small number of owners think fees should be raised every read more

Further to our initial post on Legal tips when buying or selling property, we received very helpful feedback from an owner on our Community who works in the industry.

“I just read the email this morning regarding selling/buying property . I am involved in the property business here for many years now and was surprised that properties were sold with community arrears in place, this harks back to the good old days of ten to fifteen years ago when notarys turned a blind eye to these things. All notarys are legally bound to be in possession of a community certificate which should come from the administrators of the urbanisation where the property is located …..

Over the past week I have heard of three separate cases of purchasers of properties on our urbanisation who have run into problems because work that should have been done by professionals has not been read more

HMRC tax meetings for British Nationals in the Alicante province:

On 4th September HMRC representatives from the UK are holding two sessions in the Alicante province to talk about tax issues.

HMRC read more

Already, some countries where British pensioners are living – such as in the EU, UK, US, and Philippines, receive the obligatory pension increase.  UK pensioners in Australia, Canada, New Zealand read more

We opened a joint account with the garage community to pay for water leak repairs and this had to be periodically topped up to pay bills when they became due. Not all the allocated cash needed to be read more