property management - a warning

[sunman]

I suppose this issue applies mainly to offshore owners but could apply to anybody here but I've had something of a bizarre incident this week which is ongoing and which I can only describe as a financial timebomb

- better half went into the bank this week and saw a discrepancy of €1500 between our balance and 'balance available'
- explanation by bank to me was that the Social Security had made a charge against my account
- visits to Social Security revealed these charges dated back to 1990-1992!
- investigations revealed that property management at that time was handled by the builder
- it seems that full charges were collected from me for maids salary but that Social Security deductions were not then paid to the DSS by the builder
- fortunately we moved to a different management company in 1992 and proper monies were forwarded from then

I don't know full facts yet but I'm speculating that the maid of that time has now started to collect a pension and that this hole has been revealed, and naturally she is making a claim against her then employer (me)

the main reason I'm posting this is that everyone should make sure they have a thoroughly trustworthy and honest property manager, it's not just about changing the sheets. Pool cleaners, gardeners, maids etc will all be making their own DSS contributions and you will be paying your side of that too, but best to make sure that your money is ending up where it should

[Bruce Wallis]

My management company send me a monthly financial statement, which I am able to challenge them on if I am not happy.
On that statement our maids DSS contributions are clearly listed.

If your management company doesnt give you that level of transparency....insist on it....or change them!!

[widge]

My management company send me a monthly financial statement, which I am able to challenge them on if I am not happy.
On that statement our maids DSS contributions are clearly listed.

If your management company doesnt give you that level of transparency....insist on it....or change them!!

Yes but isn't sunman's point that you need evidence that the monies have actually been paid over to the government , not just deducted from your account.

Perhaps a property manager on the forum might make some comment on this issue ?

[Silki]

Payment papers are submitted in duplicate so there is always proof of payment. I used to keep these on file rather than post them every quarter to the owner. However, they were always available for inspection. I agree that it is very easy to charge the owner on his account but the receipts are the proof. Silki