The essentials of the reform
The ALUR Law (Access to Housing and Renovated Urbanism) has radically transformed the profession of syndic in France. It prioritizes financial transparency, the protection of co-owners and the fight against substandard housing.
Focus on key measures in condominium
National Register of Condominiums
All condominiums for total or partial residential use must be registered in a national register. This register makes it possible to have statistical data on the state of condominiums in France.
The Work Fund
Mandatory for buildings over 5 years old, it makes it possible to anticipate future work expenses. The minimum annual contribution is 5% of the annual provisional budget.
Standard Syndic Contract
The ALUR law imposes a unique contract model for all syndics in France. It defines a list of current management services included in the annual package, thus limiting unjustified billing.
Separate Bank Account
The syndic has the obligation to open a separate bank account in the name of the syndicate of co-owners, ensuring that the funds are not confused with those of the management firm.
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