When your apartment forms part of a Vereniging van Eigenaren (VVE), or Association of Homeowners, Wooncompany can also take of the management of your real estate. We have a lot of experience with VVE’s and we can give you advice and help in matters concerning the VVE. Please call us for more information..
A Vereniging van Eigenaren is an association of apartment owners that form part of a apartment complex. This association takes care of the upkeep of the whole complex or building and all other collective interests of the apartment owners. When a building is separated into apartments by a property division deed, a VVE automatically is formed. All owners of apartments are automatically, by law, a member of this VVE . The rules and regulations concerning the functioning of the VVE, are the same as those of a regular association, supplemented with a few special additions. Now follows a document with more specific information about the VVE.:VVE_Beheer.pdf (2 MB).
Contents
• Co-ownership
• Statute
• The property division deed
• Rules and regulations
• Organs of the VvE
• General meeting
• Daily administration
Co-ownership
Whoever buys a house, buys the right of ownership of this house. When you buy an apartment, you don’t buy the right of ownership, but you buy the right of co-ownership. With this, you will buy the right to use a part of the building exclusively, the apartment. But at the same time you become a co-owner of the whole building and with that responsible for the whole building.
The owners of a co-ownership are by law a member of the Vereniging van Eigenaars or VVE. Some houses also form part of a co-ownership; for instance when several houses form part of one object (for instance when all houses are built on top of a parking lot, these houses might be sold as co-ownership rights). The membership of the VVE ends when the right of co-ownership is sold. The purpose of the VVE is to ensure the upkeep of the building or complex and to represent the communal interests of all the owners of the rights of co-ownership.
Statute
The rules and regulations, the members of the VVE have to comply with are described in statute of the VVE. The statute has to consist of the property division deed (made up by a notary) and can be extended with the rules and regulations..
The property division deed
The property division deed is created at the same time as the VVE. In other words, the one can not exist without the other, Both are made up by a notary. In this way the notary lays down the legal roots of the VVE. The deed will be registered in the public records of the land registry. Every person can look into the deed. In the deed the share of every co-owner in the total costs, based on a distribution formula, is registered.
Household rules
A VVE may draw up household rules and regulations. In these rules the more practical afairs are arranged as a supplement to the property division deed. For instance, the rules about the use of coomunal areas are arranged here.
Organs of the VvE
A VvE consists of four by law required organs: the general assembly of member, the administration, the chairman of the general assembly and the financial inspection committee (or supervisory board).
General assembly of members
The general assembly of members is the highest entity within the VVE. The owners are entitled to vote, notwithstanding that what has been determined in the Burgerlijk Wetboek Boek 5, artikel 123 derde lid (art. 123 third paragraph of the Dutch Civil Code), concerning usufructuaries.
The administration
The administration is exercised by one or more “directors”, who can be appointed by the general assembly. (the administration can be outsourced, which happens a lot). The administration will call a general assembly at least one time a year. Points to be discussed during the assembly usually are:
• The budget for the coming year;
• The income and expenditure account from the past year.