A Housing Association- Genesis and Purpose.
The Housing Association is an entity established based on the Act of 24 June 1994 on the ownership of premises. It operates similarly to a Company in which all Owners of premises are its Shareholders. The Shareholders appoint a Board of Directors or Property Manager to manage all Community affairs on their behalf.
The leading task is to maintain its property (i. e., real estate) in an undamaged condition, perform activities related to its day-to-day operation, provide water, electricity and heating. Improving the quality of life of its residents.
How is a Housing Association formed?
Unlike a Company, a Housing Association is created by operation of law. The beginning of a Housing Association is the sale of the first premises – residential or commercial – by the developer in the form of a notarial deed and entry in the Land and Mortgage Register. The rules governing Housing Associations are set out in The Act on Ownership of Premises.
How to become a member of the Housing Association?
Every owner of premises in a Community building becomes a member of the Housing Association by operation of law. By purchasing the premises, we become co-owners of the Community, having a share in the standard part of the property.
Who makes decisions in the Community?
Who makes decisions in the Community?
The property owners make decisions crucial to the functioning of the Community. Appointment and dismissal of the Management Board, determination of rates for the maintenance of the standard part of the property, change of the purpose of the joint part, adoption of the annual economic plan, decision to sue the owner, merger of premises, repairs, as well as assessment of the work of the Management Board of the Housing Association are taken at the meeting of the Housing Association. Such a share is defined as a fraction expressing the ratio of the area of our premises and appurtenant premises (garage, locker, storeroom) to the entire area of the property. The shares are expressed in m2 of surface area. We vote on resolutions and participate in the allocation of costs concerning the maintenance of common parts.
Such a share is defined as a fraction expressing the ratio of the area of our premises and appurtenant premises (garage, locker, storeroom) to the entire area of the property. The share expressed in m2 of surface area. The owners vote on resolutions and participate in the allocation of costs concerning the maintenance of common parts
When do we decide on the affairs of the Housing Association?
Decisions on matters exceeding the powers of the Management Board (or Property Manager) of the real estate must be taken by a majority of votes of all members of the Community at meetings of the Housing Association. A meeting at which the Management Board reports on its activities must be convened obligatorily once a year. The meetings must be called by the Management Board of the Community, specifying the date, place, and agenda. In emergencies, meetings are convened by the Management Board or at the request of 1/10 of the owners. At the meeting, we decide on all Community matters by passing resolutions.
Housing Association- Renovations!
The buildings we live in wear out as a result of everyday use. Minor repairs can be carried out as part of property maintenance, while major ones require more extensive repair and construction work. Certain sums of money are needed to make the renovations. The more serious the renovation or investment, the higher the required amount will be. That is why the Communities decides to establish a Renovation Fund. This Fund collects funds for carrying out repairs or assets which the majority of owns has approved; e. g., restorations of the roof or insulation of the building). Depending on the size of the building you live in, the number of advance payments for renovation works can be varied. Setting up a down payment for renovation work is essential because the renovations you would want to do might be very expensive.