In a condominium, thousandths represent the share of the common areas included in each lot. The calculation is made by an expert surveyor based on a certain amount of data: rental value of the lot, surface area, orientation, location in the building…
The number of thousandths is mentioned in the condominium by-laws.
It is used to determine the number of votes each condominium owner has and calculate how condominium charges will be distributed.
The law forces condominium by-laws to distinguish between two types of charges
- the general common charges for the conservation, maintenance, and administration of the common areas, which are at all condominium owners’ expense
- the individual common charges, which are linked to use of common facilities, such as an elevator, and distributed according to the usefulness of these services for each lot.
All condominium owners can make a request to buy common areas, but the procedure is a fairly drawn out and expensive process. The decision must be taken by a two thirds majority at the General Meeting.
All expenses associated with this procedure are at the expense of the condominium owner who requested it.
2008-2011 Valoggia. Tous droits réservés
