Understanding co-ownership and charges before you buy

Buying an apartment often means joining a co-ownership. You become the owner of your home, but also a co-owner of the shared areas. Understanding how this works avoids surprises, especially when you plan your budget.

What is co-ownership?

A co-owned building is split into private areas (your home) and shared areas (lobby, stairwell, roof, lift, courtyard). Each co-owner holds a share of the common parts and takes part in collective decisions.

Co-ownership charges

Charges cover the upkeep and running of the shared areas: cleaning, security, common lighting, lift, small repairs. They are split between co-owners according to their share. Before buying, ask for their recent amount and what they include.

The manager and decisions

• A building manager handles day-to-day running (contracts, accounts, maintenance).
• Major decisions are voted at the co-owners' meeting.
• Big works (facade, roof) can lead to special contributions.

What to check before buying

• The amount and breakdown of recent charges.
• The condition of the building and the works voted or planned.
• Any unpaid charges or disputes in the co-ownership.

The legal framework of co-ownership varies from one country to another. Have the local rules explained by a verified professional before you buy. A well-run co-ownership protects the value of your home, in Lomé as in Abidjan.