Why set up an AO or activate an existing AO?
The legislator imposes more and more obligations on the AO. An Association of Owners must, for example, be registered with the Chamber of Commerce, be run by a Board and build up a reserve for maintenance. The annual reserve must represent at least 0.5% of the value of the houses in economic circulation. So, if the Association of Owners consists of 4 accommodation units with a total value of € 1 500 000, then € 7 500 must be added each year to the maintenance reserve. This obligation ceases to apply if a Multi-Year Maintenance Plan is in place.
What is more: an AO that respects all its legal obligations has a positive influence on the development of the value of the property concerned.