Owners association – Comunidad de Propietarios
The most Spanish homes are part of a complex or urbanisation, by purchasing a home in Spain; you will often also be required to become a member of the homeowners association, the ‘Comunidad de Propietarios’. It’s a good idea to look over the rules and regulations that come with this title before you do decide to purchase and become part of the homeowners association.
Think about the following?
- How much is the membership?
- What does it say in the statutes?
- Are there negative effects for you as a tenant? It may state that letting is forbidden, or only through a specific rental desk.
- When you decide to use the property (partially) to rent out to others, becoming a member may not be convenient, as there may be open debts of the previous owner, or possible the entire “comunidad” may have debts, be very careful here and make sure that you will not become you’re problem