Annual statement – Each condominium owner is obliged to bear the costs of common property, maintenance and repair of common use, which are recorded and settled in the annual statement. The costs to be paid include operating costs such as street cleaning, refuse collection and property and liability insurance, but also heating costs. The annual statement is prepared in the form of a pure income/expenditure statement by the condominium manager and is always part of the documentation for the purchaser of a property.
Annual statement at a glance: Balance sheet of the income of the condominium
- Costs of the common property, the maintenance as well as the repair of a real estate are seized and accounted for
- Prepared by the administrator and decided by the condominium owners’ meeting
- Is prepared in the form of a pure income/expenditure statement
- Always part of the documentation for the buyer of a property
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