What is the renewal fund in condominium ownership?

The renewal fund is a joint reserve of all condominium owners for major renovations to the building. Annual contributions of 0.5–1% of the building insurance value are recommended.

What ongoing costs does condominium ownership involve?

In addition to the mortgage, ancillary costs of CHF 3–5 per m² per month apply, plus contributions to the renewal fund. CHF 400–800 per month is typical for a 4.5-room flat.

What does the condominium owners' regulation govern?

The regulations define the use of communal and private parts, voting rights, cost allocation keys, house rules and procedures in the event of disputes.

Can the condominium owners' meeting decide on renovations?

Yes, necessary maintenance work can be decided by simple majority. Luxury upgrades require a qualified majority.

Condominium Ownership: Rules & Pitfalls

Understanding condominium ownership: Rights, obligations, management board, and ongoing costs when buying an apartment.