What is a VvE ?
In the Dutch law it is stated that it is mandatory to be a member of the so called home owners association when you own a appartement in a multi appartement building. Membership is automatic upon buying and signing the legal documents for the apartment and is not optional. The average monthly fee for a homeowners association (HOA) depends on the size of the appartement, the type of amenities, services, size of the storage etc. and is decided every year at the annual meetings.
This association is responsible for the managment, daily business and maintanance of the building in a multi appartement complex. It also collects the monthly fees from the residents to cover costs and is legally required to hold an annual meeting of owners (ALV) and is responsible for maintaning a multi-annual reserve fund.
Key functions and responsibilities of a VvE:
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Maintenance and upkeep:The VvE is responsible for maintaining the building's exterior, roof, facade, and common areas like stairwells and elevators.
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Financial management:It manages the building's finances and maintenance, which includes collecting fees and creating a reserve fund to pay for future maintenance and repairs.
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Administration:The VvE handles administrative tasks like bookkeeping, keeping records, and ensuring compliance with regulations.
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Regulations:It can set internal rules and regulations for the complex, which can cover things like noise levels, use of common areas, and even temporary rentals (e.g., Airbnb).
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Legal compliance:It must register with the KVK Business Register and is legally obligated to hold at least one meeting per year and issue an annual financial statement.
more info (government): https://www.rijksoverheid.nl/onderwerpen/huis-kopen/vraag-en-antwoord/wat-houdt-een-vereniging-van-eigenaars-vve-in
