Floor-by-floor ownership (the Swiss condominium, PPE) governs the life of thousands of Vaud buildings. Well managed, it protects and enhances your property; poorly managed, it turns into a headache and scares off buyers. Here, clearly, is how a condominium works and how to make sure it's in good hands.
What is the condominium (PPE)?
Floor-by-floor ownership divides a building into units (the private parts: your apartment) and common parts (roof, facade, stairwell, heating). Each co-owner holds a share that sets their weight in votes and their portion of the charges.
Understanding this distinction is essential: what is private is your responsibility, what is common is decided and financed collectively.
Concretely: your interior walls, floors and fittings are private; structure, roof, facades, stairwell and technical installations are common. In case of doubt, the condominium rules settle it: it's the reference document to read before any purchase.
Charges, budget and renovation fund
Each year, the condominium votes a budget: routine maintenance, caretaking, insurance, heating, and contributions to the renovation fund. Charges are split according to the ownership shares.
The renovation fund
It's the building's collective savings, for the major works to come (roof, facade, elevator). A well-funded fund (in the order of 1% of the building's value per year) avoids painful capital calls and reassures buyers.
Both when buying and reselling, the state of the renovation fund is scrutinized: an empty fund signals capital calls to come and brings offers down. A healthy fund, on the other hand, becomes a genuine selling point.
The role of the manager
The manager is the conductor of the condominium: they carry out the decisions, manage the money, oversee maintenance and provide the link between co-owners. Their rigor and responsiveness make all the difference day to day.
The general meeting and the decisions
The ordinary general meeting is held at least once a year. There the budget, the accounts and the works are voted on. Depending on the importance of the decision, the law requires a simple majority, a qualified majority, or even unanimity (for example for luxury works).
Taking part in the meetings means defending the value of your property: the decisions made there commit the building for the long term.
Take part well in the decisions
Prepare for the meeting: read the agenda, request the quotes in advance and have yourself represented by proxy if you can't attend. A condominium where co-owners get involved makes better decisions and maintains its assets better.
Choosing your manager well
A good manager is recognized by a few signs:
- Clear accounting and understandable statements
- Responsiveness and regular communication
- Rigorous oversight of maintenance and quotes (several offers compared)
- Knowledge of condominium law and legal obligations
- Transparent fees, with no hidden costs
Condominium management at Homewell
We manage your condominium from A to Z: convening and running the meetings, clear budget and statements, oversight of maintenance and works, accounting and reporting. A single, responsive and transparent point of contact, to preserve the value of your co-ownership.
Changing manager or creating a condominium? Request a quote: we take over the file cleanly. See our condominium management service.
Frequently asked questions
What is an ownership share in a condominium?
It's each co-owner's share in the building. It determines the weight of their vote at the meeting and their portion of the common charges.
What is the renovation fund for?
To finance the major future works (roof, facade, elevator) without abrupt capital calls. A well-funded fund protects the building's value.
How many meetings per year?
At least one ordinary general meeting per year, plus any extraordinary meetings in case of works or urgent decisions.
What majorities to vote on works?
It depends on the type of works: simple majority for routine maintenance, qualified for improvements, sometimes unanimity for luxury works.
Who pays for the works on the common parts?
All co-owners, in proportion to their ownership shares, via the budget and the renovation fund.
Can you change the manager?
Yes, by decision of the meeting. A new manager takes over the file, the accounts and the oversight of the building.
What does the manager actually do?
They prepare and run the meetings, manage the accounting and the charges, oversee maintenance and works, and provide the link between co-owners.
How are the charges set?
By the annual budget voted at the meeting, split according to the ownership shares. An annual statement adjusts the advances paid.
Does Homewell manage small condominiums?
Yes, from small co-ownerships to larger buildings, in Lausanne and on the Vaud Riviera.
How do I get a management quote?
Contact us with some information about the building: we'll propose a clear and transparent quote.