In France, a condominium complex or strata complex which is a residence with multiple owners who own an individual residence and a share in the common property are called ‘co-properties’.
If you are planning on buying into a ‘French co-propertie’ you will want to note several items that can impact the cost of the monthly expenses you will have to pay to support the common ownership you are investing in:
Note: these expenses are in addition to your own personal property expenses
One
Gas, electricity, insurance, water, maintenance expenses of the common property
Two
Personnel expenses like gardeners and security personnel
Three
The future cost of work such as energy efficiency upgrades
Four
Upgrades to older systems such as elevators, secure entry gates and swimming pools
Make sure you get your real estate agent and the current French property owner and current French property management company to supply you with all the necessary documents so you know the cost of these items and other items that will be your responsibility once you are the owner. As always it is best to plan ahead.
If you are looking for an English speaking French real estate professional to assist you we can help you find one at no charge for our assistance. Contact us here now expect a quick response.
