Organization of the co-ownership

Who does what within an apartment building? On this page, we explain the most important functions and roles within a co-ownership, such as the Property Manager, the Owners Association, the Co-ownership Council and the Auditor. This gives you a clear picture of who is responsible for the management of your apartment building.

1
Property Manager
The Property Manager is responsible for the day-to-day management of the co-ownership. He or she implements the decisions of the General Meeting and manages the administration, finances, and technical follow-up. The Property Manager is the primary point of contact for co-owners.
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2
Owners Association (VME)
The Owners Association is the association of all owners within an apartment building. It manages the common parts of the building. Every co-owner is automatically a member of the Owners Association.
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3
Co-owner
A co-owner owns a private unit of the building and a share in the common parts. He or she has both rights and obligations within the Owners Association. Co-owners make decisions about the building together.
4
Co-ownership Council
The Co-ownership Council supports and supervises the Property Manager. It represents the interests of the co-owners between two meetings. Not every building is required to have a council.
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5
Auditor
The auditor checks the accounting of the Owners Association. He or she verifies whether the financial data is correct. The findings are presented to the General Meeting.
6
Mandate of the Property Manager
The mandate determines how long a Property Manager is officially appointed. The General Meeting decides on the appointment and renewal. The mandate has a limited duration.
7
Property Steward
A property steward manages real estate on behalf of an owner. He usually focuses on the rental and financial management of individual properties. This is different from the task of a Property Manager.
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8
Caretaker
A caretaker performs practical tasks within the building. This can range from supervision to small maintenance works. Not every apartment building has a caretaker.
Property Manager Glossary
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