In the complexes subject to the horizontal property regime, the amount that must be paid by each of the owners of a property as administration must be established.
This monthly fee is used to cover the expenses of the residential unit, such as the payment of the workers within it, as well as the maintenance of the common areas.
What defines the administration fee?
The amount that you must pay monthly is established depending on the coefficients of co-ownership.
According to Law 675 of 2001, this coefficient is “the percentage participation index of each of the owners of private property in the common property of the building or complex.” Based on this, “the proportion with which each one will contribute to the common expenses of the building is defined”.
That is, if all the apartments or houses have the same area in square meters, the quota will be the same for all. However, if the houses have different lengths, the coefficients will be different and therefore the value of the administration will change.
How is the coefficient calculated?
Chapter VII of Law 675 of 2001 establishes that these “will be calculated based on the private built area of each property of particular domain, with respect to the total private area of the building or complex.”
On the other hand, for the coefficient of co-ownership of parking lots and warehouses, “the factors of private area and destination may be weighted.”
What other costs does the coefficient influence?
Just as the result of this determines the value of the monthly administration fee, the extraordinary fees will also be according to the coefficient of each property.
In which cases can the coefficient be modified?
The only way in which any reform can be made to the co-ownership coefficients is if one of the following cases occurs:
1. When arithmetic errors have been incurred when making the calculation or the legal parameters were not taken into account for its fixation.
2. If new private assets are added to the building, as a result of the disaffection of a common asset or the acquisition of other assets that are attached to it.
3. When the horizontal property is extinguished in relation to a part of the building or complex.
4. If the destination of a particular property was taken into account for setting the coefficients of co-ownership changes.
It is important to mention that it must be approved in a general assembly, with the vote of at least 70% of the owners.
Keep in mind that if the building or complex is of mixed-use, the coefficients will be done differently.
In this case, they are calculated according to an initial value that represents an objective weighting between the private area and the destination and characteristics of the same.