Buying in a condominium: Adopt the right reflexes.

What are current expenses?

First of all, take a look at the current condominium expenses. These include operating expenses (elevator, for example), maintenance of common areas and administrative expenses. As a budget is defined in advance for this item, make sure you are given the schedule of calls for funds. That way, there won't be any nasty surprises! Also look at overheads such as water and electricity, and ask the seller to provide you with his bills. This will enable you to forecast your monthly budget for the property.

Is any work planned?

This obviously depends on the condition of the condominium. It's a good idea to check the most important work items: façades, roofing, pipes, boiler room and elevator. To do this, consult the minutes of the most recent general meetings.
In the event of the sale of a co-ownership lot, the distribution of the financial burden of the work is laid down by law. The work is payable by the owner at the time the call for funds is made. This distribution does not take into account who voted for the work. But all is not lost! It is possible to provide for a different breakdown by agreement, by inserting a clause in the compromis de vente and the acte définitif. For example, it is generally agreed that :
- work carried out prior to the sous-seing privé will remain the responsibility of the vendor,
- work carried out between the time of the private agreement and the final deed will be paid for by the purchaser, the seller having given the purchaser power of attorney to attend the general meeting and vote on the purchaser's behalf.

The works fund
Since January 1, 2017, certain co-ownerships have been required to set up a works fund to finance work to be carried out on the co-ownership. This fund is financed by co-owners, who must pay an annual contribution.

Beware of overdue payments

and ongoing legal proceedings!

Try to find out the percentage of unpaid invoices in the co-ownership. Over 15% (25% in "large co-ownerships") is not a good sign! If maintenance work has to be carried out, this may mean that some co-owners won't be able to afford it... If the work cannot be carried out, the condominium will be poorly maintained and the apartments will lose value.
Also check to see if there are any legal proceedings in progress. It can add up very quickly if you lose a court case!

What about modifications

without condominium authorization?

When you buy a condominium lot, you need to check with the état descriptif de division whether any modifications have been made with the condominium's authorization. All modifications must be approved by the general meeting. For example, balconies are frequently transformed into verandas, and velux windows installed on the top floor open onto the roof... These are works affecting the common areas that require the authorization of the co-ownership! Otherwise, you risk having to restore the property to its original state. ..

Limitation period
Under the law of July 10, 1965, a co-owner must obtain authorization at a general meeting for the construction or replacement of a veranda, for example. Otherwise, the syndicat des copropriétaires has 10 years to request that the premises be restored.

Stéphanie Swiklinski