It can be a lonely, unrewarded and difficult journey for the president of a residential community.
Plenty of after-hours work, disgruntled property owners, loads of paperwork, and recurring trips to the bank.
It is remarkable that with so many different types of residential communities in different parts of the world, all arrangements seem to rely on one owner to handle the community’s affairs: the community association president.
It seems the economic situation is still having a devastating effect on property owners in Spain, with many struggling to pay their mortgages and community fees. The value of unpaid community fees is expected to reach €1.6 million by the end of this year, and is having direct consequences on communities.
In the course of the past 18 months, the price per kw of electricity has gone up over 20%. While many owners have taken advantage of the several deals available from Endesa or other companies, including installations of ICPs, most communities have not.