Selecting a language will automatically trigger the translation of the page content.

Condominium budget estimate

Verified 11 August 2020 - Directorate for Legal and Administrative Information (Prime Minister)

The estimates are used to plan the building's current expenditures for the coming year. It is prepared by the co-ownership trustee in consultation with the union council. It is then voted in the general assembly of the joint owners.

The estimated budget allows for the planning of current expenditures to operate the condominium and maintain the property in good condition.

It is prepared by the condominium trustee in consultation with union council.. It is voted every year in the general assembly of the joint owners.

The estimated budget shall cover in particular the following current expenditure:

  • Trustee fees
  • Guardian salary
  • Cost of cleaning common areas
  • Work to keep the building or equipment in good condition (or prevent degradation or failure)
  • Small repairs (lighting of common areas...)
  • Replacement of items of common equipment (boiler, elevator...) only if the replacement price is included in the maintenance contract package
  • Insurance
  • Periodic Regulatory Audits (elevator, for example

Exceptional expenses (for example, major maintenance of the building) are not included in the estimates. They must be decided on a piecemeal basis at a general meeting.

The estimated budget is to be voted annually for expenditure in the coming year (accounting year for the next 12 months).

The vote must take place 6 months before the financial year in question. Each item of expenditure can be discussed by the joint owners in general assembly, but the budget is voted overall at simple majority..

The participation of the joint owners in the estimates shall take the form of provision.. Their amount corresponds to ¼ of the budget voted, unless the General Assembly decides otherwise.

The provision is requested by the co-ownership trustee on 1to day of each quarter or 1to day of the period fixed in general assembly.

If the estimated budget could not be voted before the accounting year it is to cover, the trustee may call for provisions, with the authorization of the general meeting. In this case, the trustee can then make 2 successive calls for quarterly provisions equal to ¼ of the previous forecast budget.