- Who pays for condominium maintenance?
- The different classifications of charges
- How to calculate the directors fees of co-ownership?
All co-owners must contribute to the payment of maintenance work done on the common parts of a condominium. The distribution of the payment is made in proportion to the share calculated according to the value of the lots of each co-owner.
Who pays for condominium maintenance?
Each co-owner must assume the payment of the expenses up to his share. The co-ownership regulations set the proportionate share for each lot. The law distinguishes two categories of charges: general expenses and those relating to services and equipment.
Maintenance work relating to routine maintenance and minor repairs is included in the estimated budget. Payment for this maintenance work is therefore not subject to a call for additional charges. On the other hand, the cost of major works or exceptional works voted at the general meeting is paid in addition to current expenses.
The different classifications of charges
In terms of charges, the law of July 10, 1965 fixing the status of the condominium distinguishes 3 main categories of expenses:
1- General expenses
The current expenses are related to the maintenance, the maintenance and the administration of the co-ownership. Expenses provided for in the estimated budget are financed by the payment of provisions payable quarterly and in advance, unless the GA votes differently (section 14-1 of the 1965 Act).
2- Exceptional works
This concerns all conservation work, maintenance or maintenance of the building that is not included in the estimated budget. The General Meeting sets the amount and the due date of the corresponding provisions.
3- The works on the collective equipments
These are the costs that cause the most disputes in a condominium because their calculation is subject to the objective use of the equipment.
Public goods are equipment used by all co-owners such as elevator, collective heating, intercom, collective antenna... The co-ownership regulations list all the equipment that represents the common property of the property by specifying the fees for each batch. Expenditure is broken down by "objective utility". Clearly, the co-owner must participate in the expenses and works, even if he does not use the collective equipment.
for example, for the elevator costs, the owners of the lots located on the ground floor do not have to bear these costs, unless the elevator serves the basement or parking. The share of the co-owner of the 1st floor will be less than the share of the co-owner of the 6th floor.
For an intercom, the share of charges will be identical for all co-owners because this equipment has the same utility for all.
How to calculate the directors fees of co-ownership?
Each co-owner has a share of the condo. This share is expressed in directors 'fees or frequently called "thousandths" which are in fact directors' fees expressed in the form of a thousand.
This share is calculated according to the area, the situation of the lots and the floor but also the interior fittings and the comfort level of the property (balcony, private garden...).
Directors' fees determine the number of votes of a co-owner during a vote in the general meeting, as well as his rights and obligations.
This share may be different when it comes to utilities charges because the distribution is then calculated based on the utility and benefit that the equipment represents for each lot.