Condominium - if you own a share of a building
What is condominium? - The definition
that condominium (StWe for short) describes a special form of joint ownership of a built-up plot of land. It allows owners to independently use and design certain parts of a building, such as apartments or adjoining rooms. This form of ownership, which is regulated by Article 646 of the Swiss Civil Code (ZGB), is widespread in Switzerland and allows owners, for example, to purchase their own apartments including special use rights such as cellars or roof terraces. Each share of ownership, including special rights, is officially entered in the land register in order to legally secure the rights of the respective owner. Based on the building permits issued for new apartments over the past 10 years, condominium (StWE) is currently the most popular form of ownership.
Condominium vs. condominium
While the term condominium Only describes the apartment without additional space, includes condominium the co-ownership share of the entire property to which the apartment belongs. This means that condominiums have shares in common property such as land, stairwell and other shared areas.
Special rights and special use rights in condominiums
special rights authorize the condominium owner to individually use or redesign certain rooms in the property, such as his apartment or adjoining room. These rooms may generally be modernized or expanded without the consent of the other owners. In addition, there are often Special use rights, which give the owner exclusive access rights to common areas, such as a garden or roof terrace. Important: Changes to these common areas may only be made with the consent of the floor community. Consult your condominium regulations about this.
Rights and obligations within the floor community
By purchasing a condominium, the acquirer automatically enters the community of floors who is responsible for managing and maintaining common areas. Key tasks include:
- Regular meetings to make decisions
- Management of the renewal fund to finance future maintenance
- Preparation and distribution of utility bills
- Monitoring and carrying out repairs and renovations
that regulations The floor community determines responsibilities, decision-making powers and voting rights. Each owner is bound by joint decisions as long as he holds his shares in the property.
Value ratio and distribution of costs
Die Value ratio Determines each owner's pro rata contribution to joint expenses such as administration, insurance and renovations. It is recorded in the land register and is based on factors such as the size and location of the apartment and the number of rooms. Should there be unexpectedly high costs for repairs, owners can agree to adjust the distribution key to better handle sudden loads. However, such changes are extremely difficult to implement in practice, which is why the value ratio should be given great attention when considering an investment in a condominium unit.
Buying a condominium: What to look for?
Before making a purchase, interested parties should thoroughly understand the composition and budget of the community, as frequent disagreements can affect everyday life within the community. Essential points are: Before making a purchase, interested parties should thoroughly inform themselves about the composition and budget of the community, as frequent disagreements can influence everyday life within the community. Check at least the following essential points:
- Amount and development of payments in the Renewal fund - Payment defaults are borne by the entire condominium community!
- Restructuring status and planned renovations
- The regulations and minutes of the last meetings
- The composition of the floor community and its distribution of voting rights
A well-managed condominium can offer stable growth in value in the long term and at the same time enables flexible use of the apartment and communal space. In addition, a condominium has significantly less management costs than a single-family house, which means that it offers numerous advantages, especially in old age. If you would like to exchange your single-family home for a condominium apartment, talk to us!
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