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Method allowing the allocation of common expenses between the various co-owners. This method must take into account the relative value of each fraction and the cost generated by the use by the co-owners of the common portions for restricted use.
04/11/2024
Three months ago, we were called to the annual meeting of co-owners during which co-owners were consulted on the budget forecast. However since this meeting, we have not received a notice from the Board of directors detailing the amount of our contribution to our co-ownership’s operating budget. We would like to…...
17/09/2024
Before buying the apartment of your dreams, find out about the status of the common expenses associated with it, especially those that may have remained unpaid by the seller. Common expenses, better known as " condo fees", which you will have to pay once you become a homeowner, are an essential…...
01/03/2024
The co-ownership (condominium) gives rise to expenses relating to the maintenance of the common portions and the day-to-day administration of the syndicate. Administrative, maintenance, replacement, improvement or alteration expenses of the common portions are divided among the co-owners of the immovable. General common expenses are to be distinguished from particular common…...
09/02/2024
The administration of a syndicate of co-owners requires financial expertise, which is vital for the proper functioning of the co-ownership (condominium). In collaboration with the board of directors, the condo manager ensures budgetary balance and financial management which includes budget preparation, account management, and the distribution of common expenses (condo fees); he also…...
09/08/2022
I want to know how the condo fees (common expenses) appearing in the ads of real estate agencies are established. These are not constant and put a doubt in the minds of those who want to buy in condominiums. Question: Is there a uniform directive in real estate agencies in…...