When buying an apartment, terms like “ownership shares” often come up in the deed of division. But what do these shares represent, and why are they important? For real estate agents, explaining this to buyers and sellers is crucial. What are ownership shares? Ownership shares determine an apartment owner’s stake in the entire building. This…
HOAs make numerous decisions, such as those about maintenance, cost-sharing, or building changes. But what if a decision is unfair or violates the rules? This is where the distinction between null and voidable decisions becomes important. What is a null decision? A null decision is legally invalid from the moment it’s made. This occurs when:…
As a real estate agent or appraiser, you’ll encounter apartment law alongside other legal fields like rental law, neighbor law, and administrative law. How do these interact, and why is it essential to understand their impact? Key Legal Areas and Their Influence Why is this important for agents? Practical Tips
Deferred maintenance can be a significant issue when selling an apartment. It affects not only the property’s value but also its financing. How can you identify this as an agent, and what advice should you provide? What is deferred maintenance? Deferred maintenance refers to essential repairs or renovations needed for shared parts of a building,…
Since the introduction of the Improved HOA Functioning Act in 2018, HOAs must meet stricter maintenance and financial reserve requirements. What does this mean for selling an apartment? What does the act entail? The act aims to improve building maintenance and promote sustainability. Key components include: Impact on Marketability What Can Agents Do? Practical Tip…
A well-functioning Homeowners’ Association (HOA) should have a long-term maintenance plan (LTMP). However, it’s not uncommon to encounter HOAs operating without one. What does this mean for buyers, sellers, and agents? What is an LTMP? An LTMP outlines the HOA’s maintenance plans for shared areas like roofs, façades, and elevators over the next 10 years….
The financial health of a Homeowners’ Association (HOA) is a critical factor when purchasing an apartment. A strong HOA ensures proper maintenance and minimizes unexpected costs. How can agents effectively inform buyers about this? Key Financial Aspects of an HOA Documents to Review How to Inform Buyers Practical Tip Encourage buyers to consider a structural…
Sometimes, an apartment is used in a way that doesn’t align with the deed of division—such as a residential unit being rented as office space. What are the consequences, and how can agents handle this? What Does the Deed of Division Say? The deed specifies which parts of the building are common and how private…
Understanding the Role of Stairs and Stairwells in Measurements When measuring usable floor area in buildings, stairs and stairwells can present some challenges. Under NEN 2580 guidelines, there are specific rules about how these areas should be measured and categorized. These rules ensure consistent and accurate results across all types of buildings. In this blog,…
There are various roles within the Dutch real estate sector, such as Assistant Broker (A-RMT), Candidate Broker (K-RMT), and Registered Broker (RM), each with specific responsibilities. Essentially, anyone without formal qualifications can call themselves a broker and engage in selling, buying, and renting properties. However, there is one exception: if you work for a real…
