Being a home owner in Turkey also means being part of an owners association. In larger complexes the amount of money being paid each year to the owners association is quite significant. It is therefor absolutely necessary that the accounting books of the complex are done properly and professionally. We here give you a list of which reports you as an apartment owner should have access to: Profit and Loss statement Showing all income and expenses during a particular period - often the current accounting year of the complex - the profit and loss will tell you if the complex is spending more money than it receives. Also you will be able to see how the money is spend account by account. Balance sheet Is a summary of the current financial situation at a specific time. It will show you the balance on each cash and bank account and also how much money is being owed to the owners union and how much the owners union owes to others. These are the two main financial ...
A blog written by 2Base Estate Agency