In accordance with the new Law on the Management and Maintenance of Buildings, two fundamental obligations of all co-owners are prescribed:
Obligation to elect a co-owners representative
According to Article 42, Paragraph 7 of the Law, co-owners must elect a representative within 60 days of receiving a notice from the property manager.
If they fail to do so, pursuant to Article 42, Paragraph 8, the property manager will appoint a compulsory representative, and the fee for this function will be charged from the building’s reserve fund, which means an additional cost for all co-owners.
Obligation to elect a property manager
In accordance with Article 49 of the Law, all co-owners are obliged to elect a property manager who will carry out professional and administrative tasks related to the maintenance of the building.
If the co-owners do not elect a property manager in the prescribed manner, under Article 50 of the Law, the mayor will issue a decision on the appointment of a compulsory manager, through a public call specifying the conditions that managers must meet.
IMPORTANT:
- With the introduction of a compulsory manager, co-owners lose the ability to choose and control management costs.
- The fees for a compulsory manager are also charged from the building’s reserve fund.
- Co-owners’ cooperation in the process of electing both the representative and the manager is a key matter of financial responsibility and legal security for all residents..
