What obligations does a flat owner have?
Flat owners bear a proportional share of the building's costs, pay into the reserve fund and must show consideration for the other owners.
Owning a flat brings not only rights but also obligations towards the community of owners. The most important are: bearing a proportional share of the building's costs, paying into the reserve fund and showing consideration for the other owners. These obligations make sure the building works and keeps its value.
The central obligations
Sharing the costs
Every owner bears a share of the expenditure on the building according to their proportion – operating costs, insurance and management, for example. The split follows a set allocation key.
Paying into the reserve fund
A reserve fund is built up jointly for future repairs and refurbishment. Paying in regularly is an obligation and prevents large costs having to be met individually and at short notice.
Consideration and designated use
Owners must use the flat within its designated use and must not unreasonably affect others. Certain alterations to the building require the community's consent.
Owning a flat always also means responsibility for the shared building.
What happens if obligations are not met
If an owner does not pay their share or does not keep to the community's rules, everyone suffers. Missing contributions strain the reserve fund, delay necessary repairs and can ultimately lead to legal steps. Unauthorised alterations or use contrary to the designated purpose also cause regular disputes. An experienced manager spots such problems early, raises them clearly and works towards a fair solution before they escalate. That keeps the community able to act and preserves the value of the building. We keep an eye on payments, deadlines and resolutions and cover your back, so that small disagreements do not become large conflicts.
How a manager takes the load off
Professional management makes sure costs are allocated correctly, reserve funds are kept transparently and obligations are clear to everyone. What lies behind that is explained in What does a condominium manager do?. The exact legal details follow the Austrian Freehold Property Act, see What does the Freehold Property Act govern?. We have managed properties in Graz and the surrounding area since 1988 and keep your community of owners legally sound and orderly. Talk to us.