A president of a community of owners can have a stipulated salary if it has the approval of the majority of the owners at the meeting and it is stated in the minutes. The president is appointed through article 13 of the Horizontal Property Law (LPH). The president will be appointed among the owners by election or, alternatively, by rotating shift or draw and will have a term of one year. The salary must also be agreed upon by the owners’ meeting. The president cannot set the salary himself, but the amount must be mutually agreed upon.
Where is the salary recorded?
The possibility of the position having salary remuneration is recorded in the statutes of the Community. It has to be approved by a majority, that is, by 3/5 of the people who make up that Community of Owners.
It must be clear that the salary is paid in accordance with the president’s duties and the period during which the payment will be made must be detailed. Also The way in which payments will be made must be defined, either through an employment contract or through the signing of a commercial contract. (in this case the president must be registered as self-employed and comply with tax obligations).
The functions of a Community president
The president of the Community of Owners has several tasks:
- Call owners’ meetings.
- Close the minutes of the meetings that are held.
- Demand that disturbing activities and noises in the community cease.
- Perform the functions of secretary of the meetings and administrator of the property, if there are no designated persons.
- Additionally, if a property manager has been hired, the president’s job is to supervise compliance with rules and regulations and manage the budget and necessary payments.
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