What are the costs of a co-ownership manager?

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Before getting to the heart of the matter, a little reminder about a condominium trustee and its usefulness to help you.

Co-ownership is the organization of one or more buildings and is divided into lots distributed among several owners.

To facilitate this organization and keep the building in good condition, the condominium manager has been created. It is compulsory in all condominiums and its role is defined by law. It is often a professional who is in charge of the mission, but it is also possible to create a voluntary trustee. However, the latter is often too limited for the larger condominiums to manage.

Interest of a trustee

The co-ownership manager has a role of administrative and financial management of the building. All missions are defined by law n ° 65-557 in the article of July 10, 1965.

In a co-ownership, the appointment of a trustee is mandatory regardless of the size of the co-ownership. This external professional service is elected for a period determined by the general assembly of co-owners.

He ensures the application of the rules within the co-ownership as well as the respect of the decisions taken by the syndicate of co-ownership of the building. He is of great help on the financial side, he establishes a project and is in charge of managing expenses.

The cost of this service

This service is of course chargeable and the amount is entered in the co-ownership contract. Even for smaller condos, you can often expect a four-figure rate, while larger condos have costs in the thousands of dollars.

The amount is defined during the initial estimate. For this reason, it is in your best interest to compete for the best possible rate. A negotiation phase is then possible when there is competition between the trustees.

In addition, it is essential that you know exactly what is included in the amount and what is not. This is often where the doldrums are discovered.

Indeed, the remuneration is divided into two parts:

  • Lump sum remuneration
  • Additional remuneration that may be billed outside the package

The flat-rate remuneration is also known as the running costs. They cover all the regular missions such as the maintenance of common areas, the calculation of taxes, reminders of charges to co-owners, etc.

If they represent the major part of the actions of the trustee, the last (corresponding to the additional remuneration) can inflate the note in an impressive way. The best example is the obligation to register condominiums in a national register dating from the end of 2017. Studies carried out by associations of co-owners have shown that this mission was invoiced between a few tens and a few thousand euros according to the trustees! However, the task does not differ from one condominium to another (same charge for 20 as 200 lots in the condominium) and only takes about fifteen minutes!

Ask the trustee before signing the contract to get the amount of all these costs. Simple registered letters are sometimes very expensive.

Managing co-ownership is not easy and expensive. For this reason, it is in your best interest to compare the offers well and to know exactly what fees will be charged to you at the end of the year.

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