How does a community of owners plan a refurbishment?
The community first establishes the need, obtains quotations, passes a resolution and finances the refurbishment from the reserve fund and contributions. Good preparation is decisive.
A refurbishment in a community of owners is a joint project that needs to be well prepared. Unlike with sole ownership, it is not one person who decides but the community, by resolution. The process usually follows the same steps: establish the need, obtain quotations, pass a resolution and secure the financing.
The steps at a glance
Need and quotations
First the actual condition of the building is inspected and the need for refurbishment established. Several quotations are then obtained in order to assess the scope and costs realistically.
Resolution
Larger refurbishments require a resolution of the community of owners. How that works formally is explained in How does decision-making work?. Sound preparation prevents disputes later on.
Financing
Refurbishments are usually financed from the reserve fund, supplemented by additional contributions or by borrowing. Possible subsidies belong in the planning at an early stage, see What subsidies are available for refurbishment?.
A well-planned refurbishment does not divide the community, it brings it together.
How to bring the community with you
The success of a refurbishment often depends on whether the owners are willing to go along with it. It is important to inform them early and openly: why is the measure necessary, what does it cost and what benefits does it bring? When the figures are transparent and questions are taken seriously, resistance drops considerably. A clear timetable also helps, because everyone knows what happens when. As a management company we take on precisely this communication, prepare documents that are easy to understand and guide the decision. That turns the refurbishment from a bone of contention into a project everyone supports.
Why preparation is everything
Most conflicts over refurbishments arise from missing information and unclear costs. When all owners understand the need and the figures are transparent, decisions come more easily. That is exactly where the task of an experienced management company lies.
How we support you
We assess the need for refurbishment, obtain quotations, prepare the resolutions in an understandable way and oversee the work with reliable partners from the region. That turns a major undertaking into an orderly process that everyone supports. We have been looking after communities of owners in Graz and the surrounding area since 1988. Arrange a meeting.