Tuesday, October 21, 2014

Transparency to the extreme

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 statementShowing 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 reports that will tell you how your owners union is doing.

An old lady is back in town

As some of you might know, one of the very first projects that our company got engaged in was the creation of Sunsearch - Alanya on the internet.

Back in 2003 this was one of the very first information portals for foreigners searching for online information about Alanya. The page was maintained in 8 different languages, and contained a mix of business profiles and relevant articles related to Alanya and Turkey.

A lot has happened since 2003 and lately Sunsearch has been living a quite life on the outskirts of the vast world wide web without drawing much attention.

So we thought it was about time to drag the old lady out of the garage and bring her up to speed. And so we did.