In condominiums, everyone is responsible for the upkeep of the building. However, this awareness is not always as present as it should be. There's no point in making small savings, such as turning off one of the elevators, if the condominium will then have to spend much more money because of the serious deterioration of the building.

In principle, the expenses necessary for the upkeep of the common areas, which from April onwards are the responsibility of the owners of the building at the time of the decision, should be paid by the owners according to the value/permilage of their units, i.e. those with larger units will pay a higher amount for the work. This is similar to the calculation of monthly dues.

However, the condominium owners can decide on other ways of dividing up the payment by specific resolution of the meeting. For example, they can opt for an equitable distribution, in which everyone pays the same, regardless of their permilage. This requires the agreement of the owners affected by the change and, if there is any provision to the contrary in the constitutive deed, this will also have to be modified.

The amount earmarked for the maintenance work must already be included in the condominium's savings or in the common reserve fund, since, according to the law, each condominium owner must contribute to this fund an amount corresponding to at least 10% of their share of the remaining condominium expenses. In other words, if the monthly fee is 40 euros, an additional 4 euros must be contributed to the common reserve fund. This amount may not be enough, so plan the work you want to do in advance and estimate the cost.

The law says that this fund is dedicated to conservation work, but if the money turns out to be “short” for the work you want to do, you can suggest that the condominium make a saving to cover the shortfall.

Although, as mentioned, the common reserve fund is intended for building maintenance costs, as of April it can also be used for other purposes, provided that the condominium owners pay it back within a maximum of one year of the necessary contribution in order to replace the amount used in the meantime.




Source: CondomínioDeco+
Legislação e Finanças