Definition : Budget forecast - Operating expenses

Amounts spent by the syndicate of co-owners to acquire goods or services related to the maintenance, operation, and administration of the immovable.

Related articles


Most co-ownership directors perform their function as volunteers. But, contrary to popular belief, they can be paid. Their remuneration takes various forms: salary, honorariums and attendance fees, just to name a few. This financial compensation, a part of the administrative expenses of the co-ownership, may also include the reimbursement of some expenses incurred by a director.
View more
 At our last Annual General Meeting, the Board of Directors presented the estimated budget for the coming year. This budget provided for a substantial increase of the common expenses, as significant work was to be carried out during the year to upgrade the elevator. Everyone did not agree with this decision, and the budget was passed! I really had the impression that during this meeting, the will of a majority of co-owners was not taken into consideration. Question: What is the power of the co-owners meeting with respect to the vote on the budget? Can it vote against an increase in common charges?
Login / Register to read this article