Management Of The Condominium Act (In Force As Of May 01, 2009)

Main points in the new Act:

  • The act provides all general obligations of each owner in the Condominium
  • The act determines 2 possible forms of management of the Condominium:
    • General Assembly of Owners (GAO)
    • Association of Owners (AO)
  • Requirements for convening of the GAO (also known as General Meeting of Owners)
    • The GAO should be called at least once a year
    • In new buildings the first GAO has to be called within 6 months
    • If a GAO hasn’t been called for more than a year or in case such meeting has never been held so far again it has to be called within 6 months as of May, 01, 2009
    • If a GAO is not called within the term given above it will be called by the Mayor
    • The GAO cannot be held between July 15 and September 15 or during the official holidays unless it is urgent Owners can authorize someone to represent them at the GAO
  • Voting at the GAO: The owners from the condominium ownership shall have votes proportionate to their respective shares of the common areas.
  • Bodies
    • The executive body of the Condominium is the Manager (Managing Committee). The Manager (Managing Committee) is elected by the GMO and have mandate of up to 2 years. The manager and the members of the MC can be owners only
    • The GAO elects a Control Committee (Controller) with a mandate of up to 2 years. The Control Committee (Controller) controls the work of the Manager (MC). The members of the CC can be owners only
  • The maintenance and the management of the common areas in the building could be settled:
    • By a contract with a notary certified signatures between all owners and the developer
    • The General Assembly of the Owners can authorize a third party or a legal entity to maintain the common areas of the building against remuneration; The maintenance contract and its provisions should be voted at the GAO and the manager can sign the contract on behalf of the owners
  • Expenses:
    • Repairs or reconstruction of the common parts of the building can be done only if there is a decision taken by the GAO or the GM of the AO. The expenses for those repairs are divided between the owners according to their share of the common parts of the building
    • The consumers’ expenses for the common parts of the building are divided equally between the owners
  • The GAO has the right to force an owner to leave its property for a period of maximum 3 years, if he/she does not comply with the adopted resolutions of the GAO or violates the Internal Rules Order of the condominium ownership

How useful was this post?

Click on a star to rate it!

© Trifonov Law Offices Frontier Theme
Call Now Button
error: