You own a condominium?
What is condominium ownership?
If you buy a condominium or part of a house, then you also buy a part of the land. Strictly speaking, you acquire partial ownership together with the other condominium owners and gain the sole right of use for a demarcated portion of the property through a special right. The portions that you share with others are subject to special rules. For example, the outer facade or load-bearing structures cannot be changed unilaterally. Likewise, you must pay a portion corresponding to your portion of ownership of the mutually incurred costs, such as maintenance, gardening, or even the replacement of communally used heating. This ratio is called the proportional value. It also determines the amount of voting rights at the general meeting of owners.
Why are regulations needed?
According to law, condominium owners can require regulations governing administration and use. The regulations can also deviate from legal provisions, provided the legal provisions are not mandatory. A mandatory provision governs which building parts are to be used by all the owners, for example.
What should the regulations include?
- Division, proportional values and changes to them, special rights, common areas
- Use of building parts that are subject to the special right
- Use of common building areas
- Shared costs
- Maintenance, renovation, and renewal of the building
- General meeting of condominium owners
- Change to the structure of owners and dissolution of condominium ownership
How are the regulations drawn up?
The regulations are usually already drawn up in writing when ownership is established and can be referenced in the land register. This way, any subsequent buyers of condominium shares, for example, cannot claim they did not know of the regulations.
More detailed legal information on condominium ownership and what exactly the regulations govern can be found in our checklist for download.