Common Property: An Important Element of Living in a Property Owners' Association

What is Common Property?

Common property refers to those parts of a residential complex that do not belong to an individual owner but rather to the property owners' association as a whole. This typically includes:

• The land and structural components of the building (e.g., facade, roof, staircase).

• Common facilities and amenities (e.g., heating system, laundry room, garden areas).

• Other areas that are of importance to the entire building.

The Importance of Common Property

Common property plays a central role in the coexistence of a property owners' association. It contributes to the overall value of the property and requires careful management and maintenance.

Management of Common Property

As part of the property owners' association, you have a say in the management of common property. Decisions regarding major repairs, renovations, or improvements are typically made in the owners' assembly. Hochheiden Property Management assists you in making these processes transparent and efficient.

Your Rights and Responsibilities

Rights

• Participation: You have the right to participate in decisions regarding common property.

• Usage: You are entitled to use the communal facilities and areas.

Responsibilities

• Cost Sharing: You are obligated to contribute to the costs of maintaining, repairing, and managing common property.

• Consideration: You should use common property with care and in accordance with regulations.

Important Aspects of Maintenance

• Regular Maintenance: Regular maintenance and upkeep are essential to preserve the value and functionality of common property.

• Long-term Planning: Major maintenance projects should be well-planned and financially secured.

Conclusion

A good understanding and responsible management of common property are essential for the well-being of the entire property owners' association. As your property management company, we are here to advise you and help you uphold your rights and fulfill your responsibilities.

If you have any questions about common property or the owners' assembly, please don't hesitate to contact us.