A condominium is a building or complex in which units of property, such as apartments, are owned by individuals and common parts of the property, such as the grounds and building structure, are owned jointly by the unit owners.
Condominium Administration in Malta and Gozo is a relatively new concept to the Maltese population and the Malta Condominium Act has only been in force since July of 2001. The role of an administrator is to address the day to day operations of the common areas and strive to enhance the owner’s investment, maximize profitability and ultimately increase the common benefits of the condominium complex.
Once appointed and registered at the Land Registry, the Administrator shall hold office for a period of two years unless otherwise stated and agreed upon at the General Meeting. The duties of the Administrator are as follows:
- Register the Condominium as an association with the Land Registry.
- Affix a notice board in the common entrance displaying all relevant contact details.
- Keep a register containing details of owners, minutes of meetings and correspondences.
- Provide general day-to-day maintenance and administration.
- Conduct routine property inspections.
- Design and implement preventative maintenance procedures.
- Supervise staff and contractors.
- Collect maintenance contributions and deposit funds into designated bank accounts.
- Acquire quotations from tradesmen and suppliers.
- Prepare and organise annual general meetings.
- Prepare annual budgets and financial statements.
- Conduct regular and ongoing meetings with administrative committees.
- Prepare monthly work in progress reports.
- Keep close liaison with professionals such as auditors, accountants and insurance experts.