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The syndic of co-ownership
Trustee
In a condominium, all the co-owners are gathered within the syndicate of co-owners. The syndic is the representative of the union. He is appointed by the meeting of co-owners.
It is necessary to appoint a trustee in each co-ownership. In the absence of a syndic, a co-owner may take the initiative to ask the judge for the appointment of a provisional administrator, who will have the syndicate of co-owners appoint a syndic .
The trustee may be:
• A professional, holder of the real estate agent card, bearing the mention "Property Management", who has subscribed to a financial guarantee guaranteeing the return of the funds he would hold for the syndicate.
• A non-professional, who is one of the co-owners.
The syndic is appointed by the meeting of co-owners for a period that may not exceed 3 years, in principle. His remuneration is determined by the meeting of co-owners.
The trustee's mission is to:
• To ensure the administration of the building. He keeps up to date the list of co-owners, subscribes to the insurance of the building, sends the calls for funds, keeps the accounts of the syndicate ...
• Ensure the maintenance of the building, by entering into the necessary contracts, recruiting staff, if necessary.
• To convene the meeting of the co-owners. He usually holds the secretariat of the assembly and then executes the decisions taken.
In case of emergency, the syndic has the power to decide on the carrying out of work. He must then immediately convene a meeting of the co-owners.
It is necessary to appoint a trustee in each co-ownership. In the absence of a syndic, a co-owner may take the initiative to ask the judge for the appointment of a provisional administrator, who will have the syndicate of co-owners appoint a syndic .
The trustee may be:
• A professional, holder of the real estate agent card, bearing the mention "Property Management", who has subscribed to a financial guarantee guaranteeing the return of the funds he would hold for the syndicate.
• A non-professional, who is one of the co-owners.
The syndic is appointed by the meeting of co-owners for a period that may not exceed 3 years, in principle. His remuneration is determined by the meeting of co-owners.
The trustee's mission is to:
• To ensure the administration of the building. He keeps up to date the list of co-owners, subscribes to the insurance of the building, sends the calls for funds, keeps the accounts of the syndicate ...
• Ensure the maintenance of the building, by entering into the necessary contracts, recruiting staff, if necessary.
• To convene the meeting of the co-owners. He usually holds the secretariat of the assembly and then executes the decisions taken.
In case of emergency, the syndic has the power to decide on the carrying out of work. He must then immediately convene a meeting of the co-owners.
Good to know
The volunteer trustee may be reimbursed for the expenses he incurs to manage his co-ownership (travel, photocopying, etc.) and/or be remunerated. Nevertheless, the remuneration of the volunteer trustee must remain ancillary to his main income and is subject to income tax in respect of non-commercial profits.
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