Precise information about the components of the housing allowance is provided by the business plan to be decided by the community of owners (total of all owners). The operating costs usually include insurance, refuse collection and street cleaning, the caretaker's wages, house cleaning, costs for lighting, rainwater, vermin control and maintenance work (eaves, smoke detectors, etc.).
The calculated total annual costs are allocated to the individual owners according to the co-ownership shares and are to be paid by them as monthly payments to the property management.
After one year, the administrator has to draw up a statement in which the housing allowance actually accrued is compared with the money paid in advance by the owners. The result can lead to an additional payment or a credit for the individual owner. The housing allowance for the coming year is usually determined on the basis of this payroll result.
Further information about the condominium is also available in our service area/property encyclopedia.