Co-ownership management in Brussels

The syndic (property manager) is the mandated manager responsible for administering the common areas of a co-owned building. In Brussels, where approximately 70% of dwellings are in co-ownership (flats, lofts, units in investment properties), the quality of property management has a direct impact on property values, service charge levels and residents’ quality of life.

The legal framework for co-ownership in Belgium

The law of 18 June 2018

Belgian co-ownership is governed by the law of 18 June 2018 amending the Civil Code on co-ownership. This reform strengthened transparency, regulated the powers of the syndic and facilitated decision-making at general meetings.

The founding documents

Every co-ownership rests on three key documents:

• The deed of division (acte de base): describes the common and private areas, and sets the share units (hundredths) for each lot
• The co-ownership regulations: sets out the rights and obligations of co-owners and the rules for communal living
• The internal rules (règlement d’ordre intérieur): details the practical rules (quiet hours, use of communal areas, removal procedures)

The role of the property manager

Day-to-day management

The syndic handles the day-to-day management of the co-ownership:

• Administration: convening and running general meetings, drafting minutes, maintaining the co-owners register
• Finance: collecting service charges, paying suppliers, bookkeeping, preparing the annual budget, managing the reserve fund
• Maintenance: overseeing routine maintenance (cleaning of communal areas, lift maintenance, boiler room), coordinating urgent repairs
• Insurance: taking out and managing the building insurance policy
• Compliance: ensuring compliance with regulations (fire safety, lifts, electrical installations)

Management of major works

For significant works (facade renovation, roof replacement, EPC compliance), the syndic:

• Obtains quotes from several contractors
• Presents proposals to the general meeting
• Coordinates the execution of approved works
• Checks invoicing and sign-off

Transparency obligations

The law requires the syndic to:

• Keep separate accounts (no co-mingling of co-ownership funds with their own)
• Submit an annual management report and accounts
• Give co-owners access to all co-ownership documents
• Open separate bank accounts in the co-ownership’s name (current account + reserve fund)

The general meeting of co-owners

Decision-making power

The general meeting (GM) is the sovereign body of the co-ownership. It makes decisions on the management of common areas, the budget, works and the appointment of the syndic.

Required majorities

Decisions at the GM are subject to varying majority requirements:

• Simple majority (50% + 1 of those present/represented): approval of accounts, routine maintenance works
• Two-thirds majority: renovation works, amendment of the internal rules
• Four-fifths majority: amendment of the deed of division, change of use of the building
• Unanimity: total reconstruction, dissolution of the co-ownership

Quorum

The GM may validly deliberate if more than 50% of share units are present or represented. Failing this, a second GM is convened, which may deliberate regardless of the number of persons present.

Co-ownership service charges

Structure of charges

Service charges are divided into:

• Ordinary charges: routine maintenance, cleaning, lighting of communal areas, lift, insurance, syndic fees. Billed monthly or quarterly.
• Extraordinary charges: works approved at GM (rendering, roofing, etc.). Called via special levies or drawn from the reserve fund.

The reserve fund

Since the 2018 law, the establishment of a reserve fund is mandatory. The minimum contribution is 5% of ordinary common charges, unless the GM decides otherwise by a four-fifths majority. The fund is used to finance extraordinary works and avoids unexpected calls for funds.

Impact of charges on value

High service charges reduce the purchasing capacity of potential buyers and weigh on the resale value of the unit. A well-managed building with controlled charges and an adequate reserve fund holds its value better than a comparable building with excessive charges and imminent works.

Co-ownership and property value

Examining the co-ownership before purchase

Before buying a unit in a Brussels co-ownership, the prudent buyer should examine:

• The minutes of the last 3 GMs: to identify works voted or forthcoming
• The service charge accounts for the past two years: to assess the recurring cost
• The balance of the reserve fund: to measure capacity to absorb works
• The building maintenance log: to anticipate future needs
• The financial position of the co-ownership: arrears, any outstanding debts

Expert valuation in co-ownership

Our property expert valuation service systematically incorporates an analysis of the co-ownership when valuing a unit. The condition of the common areas, the level of charges and the financial health of the co-ownership are value or depreciation factors that only a thorough expert appraisal can quantify.

For an estimate of the value of your unit, consult our flat valuation service.

Contact our practice for any question relating to the value of a co-owned property in Brussels.