As a co-owner, you are responsible for covering various expenses, such as building insurance, the collective supply of cold water or energy, maintenance of common areas, upkeep of shared equipment, and administrative management of the building(s). The “syndic” (Property Management Company) issues quarterly capital assessments (“appels de fonds” – notice of increased capital requirements from all owners) based on a projected budget.

At the end of each AGM, the syndic provides a breakdown of service charges (“décompte de charges” or “compte individuel de charges”), comparing the provisional contributions to the actual costs. This results in either an overpayment or underpayment, which is credited or debited to your account.

When works are undertaken, a specific budget is allocated in line with the payment schedule voted on at the AGM, followed by a statement of account once the works are completed.

Disputed charges, errors, misunderstandings, bank issues, or financial difficulties can lead to frequent reminders from the syndic. This automated process often lacks nuance and care, sometimes increasing your debt and frustrations.

If you feel unheard or misunderstood, you are not alone. Unless you are an experienced accountant, understanding and analysing your accounts, and asserting your rights regarding a debt claim, can be challenging. However, this step is crucial and can help you save money. Let us handle this task for you.