Co-ownership charges
Co-ownership charges are the collective building expenses split among unit owners in proportion to their millièmes. They include general charges (maintenance of common areas, property-manager fees, building insurance) and special charges tied to services or equipment that not all units use equally (elevator, collective heating).
Key points
- Quarterly provisions are voted at the general meeting and regularized once a year after the accounts are approved.
- Special charges (elevator, door code system, collective antenna) are only owed by the co-owners who benefit from them.
- In the event of arrears, the co-owners' union holds a special lien over the defaulting unit.
- Since the ALUR Act (2014), a two-year charge statement must be provided before the preliminary agreement is signed.
- Works already voted but not yet carried out represent future charges that the buyer should budget for.
Frequently asked questions
How can I anticipate the charge level before buying a condominium apartment?
The buyer should request the last three general meeting minutes and two years of charge statements, which must be provided before the preliminary agreement under the ALUR Act. They should also check the maintenance log and any multi-year works plan to identify voted or foreseeable works that could generate capital calls.
Who bears the co-ownership charges between the preliminary agreement and the final deed?
During this period the seller remains the legal co-owner and bears current charges. The notary performs a settlement at the possession date stipulated in the deed: charges pre-paid by the seller are prorated and reimbursed, and any arrears are deducted from the price. Exceptional capital calls voted after the preliminary agreement but before final closing are generally borne by the seller.
Why can high charges reduce borrowing capacity?
Banks include co-ownership charges in the monthly expense calculation when assessing the debt-to-income ratio. Monthly charges of €400 can reduce borrowing capacity by €60,000 to €80,000 depending on current rates. The broker must systematically verify and include this item in the financial simulation from the outset of the file.
In practice
A borrower submits a file for an apartment whose seller declares charges of €150/month. By reviewing the general meeting minutes, the broker discovers that facade renovation works costing €120,000 have been voted and that the corresponding capital call for the unit amounts to €4,800. He includes this in the financing plan and adjusts the loan amount accordingly.
Official sources
- Co-ownership charges · Service-Public.gouv.fr
- Sale agreement and loan condition precedent · Service-Public.gouv.fr
- Housing and financing information · ANIL