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Real Estate Guide

Condominium: entrusting co-ownership to a real estate agency

Are you a co-owner or planning to buy a property in a condominium? Find out everything you need to know about this special form of co-ownership.

Condominium: entrusting  co-ownership to a real estate agency

What is a condominium or “PPE”?

In Switzerland, the “Propriété Par Etages” (PPE) appeared in the Civil Code in 1965. Even if it represents only a small proportion of dwellings, this special status allows easy access to home ownership. It is particularly suitable for middle class households. The building is divided into lots, granting the various co-owners an exclusive right to use and fit out certain interior parts of a building and a right of use over the common areas. In a PPE, a distinction is made between private parts ( flat, balcony, etc.) and common parts (plot, facade, lift, etc.).

How does the PPE work?

The PPE must have an assembly of co-owners as well as a director. These two complementary entities will ensure that the condominium works properly. The assembly have a decision-making role, it elects its director, decides on the annual budget or the work to be done. It is the highest body of the PPE.

The administrator has executive power, established by very precise specifications. He or she will manage the building, represent the community of co-owners, control the execution of the planned works, distribute the common charges and costs, etc.

The fields of action of the PPE administrator

The PPE manager, or administrator, intervenes at three levels: administrative, financial and technical.

From an administrative point of view, he will organise the assemblies and other committees. He will intervene in conflict management and will ensure that the condominium’s rules are respected.  He will also coordinate external relations with the various stakeholders. (Municipality, service providers …)

Regarding the financial aspect, he will be in charge of establishing accounts and distributing the charges between the different co-owners. He will ensure that invoices are paid and that expenses are within the pre-established budget.

Finally, from a technical point of view, the PPE manager will ensure that the building remains in good condition by planning the works.  He is also responsible for drawing up maintenance and janitorial contracts.

Why entrusting your co-ownership to a real estate agency?

As you now understand, the management of a PPE can become very time-consuming and requires special knowledge. It is therefore necessary that a person with technical, legal and administrative knowledge manages it. Moreover, in some cases, management by one of the co-owners can be delicate. In case of conflict, for example, the administrator must remain as impartial as possible.

By entrusting the management of your condominium to the Régisseurs, you will benefit from the support of experts in the real estate sector. We ensure that the documents that are usually difficult to understand, such as the accounts, the budget proposal, the annual report and the technical report, are completely understandable for everyone. You will receive every year the documents commented by us for a simplified reading and a better understanding of the data.

You will benefit from transparent financial management thanks to a bank account specific to each co-ownership in the bank of your choice.

We also guarantee an optimised administration of insurance, maintenance and janitorial contracts thanks to a wide range of partner companies who are experts in their fields.

 Discover the profile of a PPE manager within our agency with Gaëtan Claivaz.

by  Victoria Blondeau