Maintenance obligation (WEG) – Each condominium owner is obliged to maintain the parts of the building in his or her individual ownership. For example, the ground floor owner must maintain the garden part located in his area. For the measure of the proper administration a maintenance reserve is accumulated, which is not obligatory however legally. However, each condominium owner can demand this. These reserves avoid liquidity bottlenecks and the deterioration of a property.
Maintenance obligation (WEG) at a glance: Obligation to maintain a part of the building
- Each condominium owner is obligated to maintain the parts of the building owned by him or her individually.
- Accumulation of a maintenance reserve possible
- Maintenance reserve serves to avoid liquidity bottlenecks and the deterioration of a property
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