Among the employees of a condominium building, we find the janitor. The latter's main mission is to carry out various housekeeping work in the common portions of the building. He takes care of both the interior and the exterior, the entrance, the hall, the corridors, the stairs and sometimes the garden. He also ensures general surveillance of the building and must report the disorders if necessary. The relationship between the syndicate and the janitor, like any contractual relationship, must be well defined from the beginning, in order to avoid conflicts that can be costly for the co-ownership.
Parasitic disorders in co-ownership are well and truly present. They take the form of infestations of various insects, including cockroaches, carpenter ants and Bed Bugs, not to mention rats, mouse,and field mice, whose presence has a repugnant effect and possibly harmful to human health. These insects and animals intrude unexpectedly into an apartment, or even an entire co-ownership, and can make its occupants live a nightmare. Noise in the pipes and noise at night caused by rats and mice add to the equation. Most of the time, it is up to the syndicate of co-owners, with regard to its obligation to maintain the common portions and preserve the building, to mandate a company specialized in pest management in order to carry out a disinsection or a deratization, or both.
If that is the case, three questions will need to be answered: who is to blame, who should act and who should bear the costs?
A phased co-ownership allows the developer to spread the design of a real estate project over several years, and to modulate the pace of construction work according to the evolution of unit sales. This formula implies that the developer, rather than establishing once and for all the co-ownership he wants to create, proceeds in stages.
The co-ownership he creates as part of this real estate project evolves, during construction, before reaching its final form. Because of the complex legal structure, only lawyers and notaries who are fully knowledgeable in the applicable rules of the field should act.
A phased co-ownership is also beneficial to consumers. From the time the first buildings are developed, buyers usually know what to expect about the direction of the project, its location and the nature of the buildings to come. This protection is important because if, for example, a developer were to suffer a setback, his successors would be required to honour the original plans and respect what was represented to first-time buyers.
By purchasing a condo (apartment) in a residential tower, you automatically become an owner in a vertical co-ownership. You can also be in a divided co-ownership, if you purchase a house (semi-detached or townhouse), built on the same lot than other individual homes. It is then called a horizontal co-ownership.
In divided co-ownership, the right of ownership is divided, among the co-owners, by "fractions", each comprising a materially divided private portion (e.g. an apartment, a parking or storage space, and sometimes even a plot of land) and a share of the common portions. To each fraction is attached an undivided right of ownership in the common portions, and sometimes the right to use the common portions for restricted use.
The fraction is the result of the division of a building to create a co-ownership. In other words, the addition of all the fractions constitutes, by the effect of the publication of a declaration of co-ownership, the co-ownership building.
The characteristic of divided co-ownership is to divide the building into various lots that will be the exclusive property of the co-owners (private portions), and for others that will be the property of all the co-owners (common portions). These lots are identified by an individual number, which was assigned during the cadastral operation. Each of the private lots of the co-ownership thus constituted becomes a unique property. The distinction between the common and private portions is essential, particularly from the point of view of maintenance, which is the responsibility of the syndicate of co-owners for the common portions and of the co-owners for the private portions.
Buying real estate is for most people the most important investment of their lives. Such a decision must necessarily be well planned and thoughtful. But when this purchase concerns a dwelling in divided co-ownership, the operation is even more delicate and requires additional prior checks. Despite all this type of housing is attractive, because it allows easier access to the property, due to a lower cost to buy, if we compare it to that of a single-family home. Young households and tenants benefit. As proof, more and more of them are opting for the"condo"formula, which allows them to finally be owners much faster.
You have taken the decision to purchase an apartment in a co-ownership. It is often an excellent investment and an easy way to have access to home ownership. In many instances, it will be the investment of a lifetime.
This purchase will involve you, from day one, in the community of co-owners for years to come. Be aware: this decision should not be taken lightly to ensure that your purchase will not become a nightmare.
After months of searching, you have found an apartment completely renovated and decorated with great taste. Finally, you will buy the property of your dreams with training room, roof terrace, swimming pool and indoor parking. You certainly know that making the leap can be both an exciting and complex step. Only it is a divided co-ownership apartment. That is why, at the time of submitting the offer to purchase, a doubt intrudes into your heart. All kinds of questions intertwine in your mind: