Estimated budget of a condominium

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

It is prepared by the condominium trustee in consultation with the trade union council.

It is voted every year at the general meeting of the co-owners.

The provisional budget covers current expenditure (fees of the liquidator, salary of the guardian, minor repairs, insurance, etc.).

The estimated budget does not cover the following expenditure:

• Building conservation or maintenance work, other than maintenance work
• Work on common equipment, other than maintenance
• Improvement work, such as the conversion of one or more existing pieces of equipment, the addition of new elements, the fitting-out of or the creation of common-use premises, the scour of the ground and the raising of buildings
• Technical studies, such as diagnostics and consultations
• And, in general, works which do not contribute to the maintenance and administration of the common areas or to the maintenance and operation of the common equipment of the building

The provisional budget must be voted annually for the expenditure of the coming year (accounting year for the next 12 months).

The vote must take place 6 months before the accounting year concerned.

Each item of expenditure may be discussed by the co-owners at general meeting, but the budget is voted on as a whole by the simple majority.

The participation of the co-owners in the provisional budget shall take the form of provisions. Their amount shall be ¼ of the voted budget, unless the General Assembly decides otherwise.

The provision is requested by the condominium trustee on 1^er day of each quarter or the 1st^er day of the period fixed in the general meeting.

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