Category
Accounting
Financial statements, budgets, cost allocation, the condominium bank account and arrears recovery. Practical guides to keep transparent, compliant accounts, from recording transactions to the summary management note.
125 articles
Material Calculation Error in the Condominium Report
Not all accounting errors are the same. Here is what makes an error merely material, how it is corrected, and when a new resolution is instead required.
ReadPrior Enforcement of Defaulters: the Owner in Good Standing
An owner who has paid their instalments can object to the condominium creditor's action until the defaulters have been enforced against. Here is how the benefit of prior enforcement under Article 63 works and how to assert it.
ReadPest and Rodent Control: Cost Sharing in a Condominium
Pest control, rodent control and bird deterrence are hygiene services protecting the common parts. The expense is usually split by thousandths, but some cases require a different criterion. Here is how to handle them.
ReadSplitting a monetary penalty in a condominium
A penalty may hit a single owner who breaches the bylaws or the whole condominium for a missed obligation. Let us see who pays in each case and when the manager's fault makes him personally liable.
ReadShutters and blinds: who pays in a condominium
Shutters and blinds of a single unit are private property: the owner pays for replacement, not the condominium. Architectural decorum limits still apply. Here is who pays and what the owners' meeting can decide.
ReadManagement Budget: How to Build and Approve It
The management budget estimates the year's expenses and sets the owners' contributions. Here is how it is built, which items it includes, how it is allocated and how the meeting approves it.
ReadOver-Indebtedness of a Defaulting Owner and Claims
When the defaulting owner is not subject to judicial liquidation but is over-indebted, the condominium debt enters the crisis composition procedures. Here are the consumer plan, the minor arrangement and what the manager must do.
ReadRe-Approving the Report After a Resolution Is Annulled
Annulment of the resolution does not erase the report but its approval. Here are the effects of annulment and the steps to bring the accounts back to the meeting.
ReadCondominium expenses between tenant and owner: the split
Condominium expenses are split between tenant and owner along the ordinary versus extraordinary line. Here is who pays what, from the lift to heating, and what the tenancy law says.
ReadLegal expenses in an Italian condominium: how they are split
When a condominium sues or is sued, legal costs generally follow the ordinary allocation rules, except for the specific protection granted to an owner who dissociates from the litigation. Here is how the split actually works.
ReadDamage to common parts caused by an owner
If an owner damages a common part, the repair is not divided among everyone like a normal expense. Let us see how the wrongdoer's liability works, the manager's role and the criteria for charging the cost to whoever caused it.
ReadManaging the Condominium's Debts to Suppliers
A condominium can fall into debt to suppliers when income does not cover outflows. Here is how these debts arise, who is liable under the proportional liability of Article 63, and how to manage them between repayment plans and prevention.
ReadCondominium electrical panel: who pays to replace it
The electrical panel serving the common areas is a common system: replacement and upgrading to standards are split among owners, usually by thousandths. Here is who pays and how to manage the extraordinary work.
ReadAuction Sale of the Unit and Condominium Claims
When the defaulter's unit is sold at auction, the condominium recovers on the proceeds and the buyer is jointly liable for the charges of the current and previous year. Here are the rules to know.
ReadCondominium management surplus and deficit: how they are shared
At the year end the condominium may show a management surplus or deficit. Here is what they mean, how they are shared among owners according to the thousandths (millesimi), and how the balancing adjustment is handled when the report is approved.
ReadAutomatic Gate in a Condominium: Maintenance and Sharing
The automatic gate serving the vehicle entrance is a common part, but often benefits only those with garages and parking spaces. Here is how to split electricity consumption and maintenance according to actual benefit.
ReadHow to Draft Millesimal Tables for an Italian Condominio
Drafting the millesimal tables of an Italian condominio follows precise technical criteria, from measuring surface area to applying corrective coefficients. Here is who prepares them, how they are approved, and why they become part of the bylaw.
ReadYear-end adjustment: refund or charge
Once the final account is closed, each owner has a balance: a debit to pay or a credit to recover. Here is how to compute it, communicate it and manage refunds and offsets with the new year.
ReadThe Italian condominium financial statement: what it is and how to prepare it
The rendiconto condominiale is the yearly financial statement an administrator presents to the owners' meeting to account for the management. Here is what it contains, how it is structured and what article 1130 bis of the Italian Civil Code requires.
ReadSplitting condominium facade costs: who pays and how
Facade renovation is among the heaviest condominium expenses. The facade is a common part and the cost is everyone's by thousandths, but balconies and partial coverings follow special rules: how to find your way.
ReadRepairing the Shared Roof Terrace in an Italian Condominium
When the roof terrace, or lastrico solare, belongs to all unit owners, repair costs follow different rules than when it is reserved for the exclusive use of just one owner. Here is how the cost split works and where the distinction between the two situations lies.
ReadSpecial Fund for Major Works: When It Is Mandatory
The condominium special fund for major works is mandatory for significant extraordinary maintenance projects. Here is when the property manager must set it up and how to manage installments linked to progress reports.
ReadSet-Off Between Claims and Debts Toward the Condominium
A defaulting owner generally cannot refuse to pay by invoking a claim against the condominium. Here is why set-off is limited and when it can operate, among expenses, damages and balances.
ReadChallenging Expense Supporting Documents in a Condominium
An owner who doubts an invoice can ask for an account. Here is the right to verify supporting documents, the well-founded grounds for challenge, and how to handle the exchange.
ReadThe builder's unsold units: who pays the expenses
Until it sells, the building developer is a full member of the condominium and pays the expenses on the units still in its portfolio. Let us see how costs are split and what constraints apply in the condominium's early years.
ReadAuditing condominium accounting: how it works
The meeting can appoint an auditor to review the condominium's accounting, at any time or for several years. Here is the quorum under Article 1130-bis, what the auditor checks, how the cost is shared and the limits of the role.
ReadSelling a Condominio Unit: The Certificate Clearing Condominium Fees
When selling a unit in an Italian condominio, the law requires the administrator to issue a certificate on outstanding fees that protects both buyer and notary. Here is how this clearance works, the limits of joint liability, and the timing to respect.
ReadHanding Over the Cash Balance When the Manager Changes
When a condominium changes manager, besides the documents the cash balance must be transferred together with the up-to-date position of claims and debts. Here is who must do what, how to check the accounts add up, and how to handle the outgoing manager's claims.
ReadCondominium water meters: who pays for replacement
The main water meter is common and its replacement is split among owners; the sub-meters of individual units are private. Here is who pays and how to allocate the cost without mistakes.
ReadSecurity and Guarding in a Condominium: How to Split It
A private security or guarding service is a common expense usually split by thousandths. Here is the difference from a traditional concierge, when a resolution is needed, and how to set the correct criterion.
ReadInvoices arriving after the statement is closed
A late invoice may refer to an already closed year. Here is how to decide which year to charge it to, when to record it among passive residuals and how to avoid double charges.
ReadCash fund and special fund in a condominium: what they are for
The condominium cash fund covers the ordinary running expenses, while the special fund finances the extraordinary works resolved by the meeting. Here is the difference, how they are set up and the rules of article 1135 of the Italian Civil Code.
ReadOwnership table and use tables: the differences
Many think there is a single millesimi table. In reality the general ownership table and the special use tables coexist, each for a type of expense: understanding the difference prevents wrong allocations.
ReadSpecial Works Fund: Payment and Work Progress Stages
The special fund for extraordinary works must be set up before the works begin. It can be paid in a single instalment or in relation to individual progress stages if the contract provides for it.
ReadInjunction order for condominium expenses: when and how to request it
The injunction order (decreto ingiuntivo) is the tool administrators most often use to recover expenses unpaid by a defaulting owner. Here are the requirements, article 63 of the implementing provisions of the Italian Civil Code, immediate enforceability and the time limit for opposition.
ReadSettlement and Repayment Plan for Condominium Debt
Judicial recovery is not always the best route. Settlements and repayment plans can recover the claim faster. Here is when they are worthwhile and how to set them up.
ReadTenant's Condominium Debts and the Owner's Obligation
If the tenant does not pay the condominium charges, the owner always answers to the condominium. Here is the relationship between accessory charges, the condominium's action and the landlord's recovery from the tenant.
ReadExpenses for a service used only by some owners
Not all common expenses fall on all owners in the same way. When a system or service serves only a group, the expense belongs to those who benefit. Let us see how to correctly apply Article 1123 of the Italian Civil Code.
ReadIntercom and Video Intercom Maintenance: Who Pays
The intercom and video intercom system is a common part: its ordinary maintenance is split among the units served. Here is the correct criterion, the case of unconnected units, and the difference between maintenance and upgrade.
ReadReturning Documents at End of Mandate: Duties and Remedies
On leaving office the outgoing manager must return every document of the condominium and of the individual owners. They cannot hold them pending payment of their own claims: the right of retention does not apply here. Here are the duties and remedies.
ReadStairwell windows: who pays for replacement
The stairwell windows are common property: replacement is split among the owners served by the staircase, usually under the Article 1124 criterion. Private unit windows are different. Here is who really pays.
ReadUndocumented Expenses in the Condominium Report
An expense with no supporting document is indefensible at the meeting. Here is the evidential value of supporting documents, retention duties, and how to handle undocumented items.
ReadTen-year retention of condominium accounting documents
Article 1130-bis requires condominium records and supporting documents to be kept for ten years from the date of their registration. Here is which documents fall within the duty, how to organise them and what happens when the manager changes.
ReadMillesimal tables: what they are, how they are calculated and when they are revised
Millesimal tables express the proportional value of each unit relative to the whole building and are used to allocate common expenses. Here is what they are, how they are calculated and when they can be revised.
ReadJudicial Actions to Recover Condominium Claims
Recovering a condominium claim is an orderly chain: first the reminder, then the payment order, finally the notice to comply and seizure. Here is how the phases unfold.
ReadCondominium Arrears in Case of Inheritance and Succession
On the owner's death condominium debts do not vanish: they pass to the heirs along with the unit. Here is how acceptance, renunciation and benefit of inventory work, and what the manager must do.
ReadCondominium expenses between empty and occupied units
A vacant or unoccupied apartment is not exempt from condominium expenses. Let us see which costs remain due even without use, which depend on consumption and how the manager handles the split between empty and occupied units.
ReadAllocating condominium expenses: criteria, tables and examples
The allocation of condominium expenses follows the criteria set by articles 1123 and following of the Italian Civil Code. Here is how millesimal tables apply, when the proportional criterion can be waived, and how stairs and lifts are shared.
ReadThe Condominium Account: Fund Separation and Garnishment
The account held in the condominium's name is autonomous and distinct from the estate of the administrator and of the individual owners. This separation protects common funds but exposes them to the condominium's creditors.
ReadLength of the condominium fiscal year
The fiscal year is the period the statement refers to. Here is how to set its length, when a non-calendar year makes sense and how to handle the first year of a new management.
ReadSplitting the cost of the condominium roof and covering
The roof is a common part and protects the whole building: as a rule everyone pays by thousandths. But coverings serving only one block follow different rules. How to find your way.
ReadThe condominium budget: a practical guide for the administrator
The condominium budget is the estimate of the year's expenses that the administrator presents to the owners' meeting. Here is what it contains, how to prepare it, the majorities needed to approve it and why it is the basis for collecting the instalments.
ReadAllocating the Unpaid Debt from Arrears in a Condominium
When the defaulter does not pay, the condominium must still honour its suppliers. How to advance the shortfall, keep it tracked and recover it without dumping it on those who pay.
ReadWhen the Condominium Cash Balance Does Not Add Up
When the accounting balance and the bank balance diverge, the report is unreliable. Here are the typical causes of a mismatch and the method to reconcile the cash.
ReadLift costs: who pays, owner or tenant
Installing and replacing the lift falls on the owner, operation and minor maintenance on the tenant. Among owners the Article 1124 criterion applies. Here is how to split each item without mistakes.
ReadThe Condominium Account: An Owner's Right to See It
Every owner can ask the administrator to view and obtain a copy of the periodic reporting and the bank statement of the condominium account. It is a transparency right provided by law.
ReadBooster Pumps and Water Lift: Cost Sharing in a Condo
The booster set that pressurizes water and the lift pumps are common systems with energy and maintenance costs. Allocation follows benefit: if they serve only the upper floors, the cost falls on that group of owners.
ReadAbnormal water consumption in a condominium: who pays
A suddenly high water bill often signals a hidden leak. Let us see how to tell responsibilities apart, who bears the cost of the excess and how to correctly split the water balancing charge.
ReadLodging a Claim in the Insolvency of a Condominium Owner
If the defaulting owner ends up in judicial liquidation, the condominium recovers its claim by lodging it among the liabilities. Here is the admission application, the deadlines and the nature of the condominium claim.
ReadMillesimi tables: majorities to approve and change them
For years unanimity was thought necessary. The 2010 Joint Chambers clarified that tables are not a contract: when a majority is enough and when everyone's consent is still required.
ReadPaying Suppliers: How the Condominium Sets Priorities
During cash pressure the manager must decide which suppliers to pay first. There is no statutory ranking, but sound-management criteria, fund restrictions, and substantive priorities guide a correct and defensible choice.
ReadCarrying the balance to the next condominium fiscal year
The close of one year is the opening of the next. Here is how to transfer liquidity, receivables, debts and funds to the new fiscal year without creating differences that drag on.
ReadBuyer's Succession and Condominium Expenses: Two Years
The buyer succeeds to condominium debts of the current and previous year, jointly with the seller. How the two-year period is calculated and how to protect yourself before the deed.
ReadHow Long to Keep Financial Records for an Italian Condominium
Invoices, meeting minutes and accounting registers of an Italian condominio cannot be discarded after a few years: retaining condominium financial records follows specific timeframes, tied to the statute of limitations and the manager's duties.
ReadCondominium Cash Flow: How to Avoid an Empty Account
A condominium can be balanced on paper yet run out of money if receipts do not arrive when needed. Managing liquidity means aligning the timing of instalments with payment deadlines.
ReadBudget and Final Statement in an Italian Condominium: How They Differ
The preliminary budget and the final statement are the two pillars of condominium bookkeeping in Italy: one looks forward, the other looks back. Here is how each is built, how to read them, and what happens when the numbers do not match.
ReadGarden Maintenance Costs in an Italian Condominium: Who Pays What
The shared garden of an Italian condominio is a common part like any other, with one twist: its upkeep follows its own seasonal rhythm and often coexists with areas reserved for exclusive use. Here is how the costs are allocated in practice.
ReadDoorman and Concierge Costs: How They Are Split in a Condominium
Concierge costs cover the doorman's salary, social contributions, and sometimes housing, and are split with specific criteria that differ from general rules. This article explains allocation criteria and how to manage the service's discontinuation.
ReadSplitting Elevator Costs by Floor in an Italian Condominium
Article 1124 of the Italian Civil Code sets a double criterion for elevator costs: half by ownership share and half by floor height. This article explains how it applies in practice and which costs are covered.
ReadAdvances and balances in condominium instalments
During the year owners pay instalments as advances on the budget; at year end the statement sets the balance. Here is how this mechanism works and how to keep it in equilibrium.
ReadHow millesimi are calculated: surface and coefficients
Thousandths are not just floor area. You start from the real surface and apply coefficients for floor, light, exposure and use: how a correct table is built.
ReadLate Payment Interest for Condominium Owners in Arrears
Late payment interest on condominium fees is not automatic under Italian practice: it needs a basis in the bylaws or in an assembly resolution. This article covers when interest starts accruing, how it is calculated, and practical limits for the manager.
ReadPetty Cash for Small Expenses in Italian Condominiums: Management and Limits
Petty cash is the practical tool that lets an administrator cover minor, urgent expenses without triggering the full ordinary payment procedure every time. This article looks at how it is set up, what limits are advisable, and how it should be reported to stay transparent toward the assembly.
ReadDelinquency Reserve Fund in Italian Condominiums: What It Is and How to Set It Up
The delinquency reserve fund is a tool an Italian condominium assembly can approve to advance expenses when one or more owners fail to pay on time. This article looks at its legal nature, how it is set up, how it is allocated among compliant owners, and what happens once the delinquent owner settles the debt.
ReadOwners' Pro Rata Liability Towards Creditors
An owner in good standing is not jointly liable for the condominium's debts: he pays pro rata and only after the defaulters have been pursued. Here is the rule and its practical consequences.
ReadSplitting an urgent expense not approved by the meeting
If an urgent repair is carried out before the meeting approves it, owners must still contribute. Let us look at the legal basis, how ratification works and the criteria for splitting the amount.
ReadAllocating Centralized Heating Costs and the UNI 10200 Standard
Allocating centralized heating costs in Italian condominiums now follows an actual consumption logic, set by the UNI 10200 technical standard. This article explains how the fixed and variable shares are calculated, when heat metering is mandatory, and what room the assembly still has to adapt criteria to the building's characteristics.
ReadDeposits and Retention Money in Condominium Works
In dealings with contractors and suppliers, a condominium may pay security deposits or withhold retention money on works. These are restricted sums that must be handled and recorded separately from ordinary expenses.
ReadWrong Expense Allocation Found After Report Approval
An allocation error found after approval is not a final verdict. Here is the difference between wrong application and breach of criteria, and the concrete remedies.
ReadThe statement of financial position in the condominium report
The financial summary, or statement of financial position, is the part of the report that shows the year-end snapshot of the condominium: cash, receivables from owners, payables to suppliers, funds and reserves. Here is how to read it and what it reveals.
ReadReplacing the intercom: owner or tenant, who pays
Replacing the intercom system is extraordinary work borne by the owner, while use and minor maintenance may fall on the tenant. Here is how it is split among owners and who really pays.
ReadWithholding the Fee from the Account: When It Is Lawful
Many managers draw their fee straight from the condominium account. Is it lawful? The answer depends on approval, on a valid entitlement, and on the transparency of the operation. Here is where the line with embezzlement lies.
ReadCondominium Financial Statements: Cash and Accrual Basis
The condominium financial statement combines two different accounting criteria in a single document: the cash ledger that follows actual money movements and the balance sheet that captures receivables and payables. Understanding how they fit together helps managers and owners read the annual accounts correctly.
ReadIndividual Water Meters: Metering in a Condominium
Individual sub-meters let you allocate water on each unit's real consumption, leaving only the fixed share to thousandths. Here is how metering works, when a resolution is needed, and how to handle readings and adjustments.
ReadGarnishment Against Third Parties for a Defaulting Owner
Garnishment against third parties lets a condominium reach the defaulter's account, salary or pension. It is often faster and cheaper than real estate foreclosure: here is how it works.
ReadDeductible and uncovered amount in condominium policies
The deductible and the uncovered percentage reduce the indemnity and leave part of the loss with the condominium. Understanding how they work and how the residual share is allocated avoids disputes at the meeting and surprises at settlement.
ReadSuspending Services to a Defaulting Owner: the Rules
After six months of default the manager can suspend common services capable of separate use. Here are the conditions, the limits and the services that cannot be cut off.
ReadCondominium expenses straddling two fiscal years
Bills, contracts and works often cross the end of the fiscal year. Here is how to assign each portion to the year it belongs to, so no owner pays twice or not at all.
ReadCommon parts serving part of the building: Art. 1123(3)
Courtyards, stairs and systems that serve only one portion of the building are not paid by everyone. Article 1123 paragraph 3 assigns the cost to the group that benefits: practical cases and partial condominium.
ReadInternal Transfers in a Condominium: When and How
An internal transfer moves money between two funds of the same condominium without creating an expense or income. Recording it properly avoids inflating the totals of the annual report and keeps the accounts transparent.
ReadInterest on the Condominium Manager's Advances
When the manager advances their own money to pay suppliers, they earn not only repayment of the principal but also interest. Here is the legal basis, when it starts to accrue, and how not to confuse it with default interest owed by defaulting owners.
ReadForeclosing the Defaulting Owner's Unit in a Condominium
Real estate foreclosure is the final stage of condominium debt recovery. Here is when it makes sense, the steps required and the effects it has on the defaulting owner's unit.
ReadThe condominium accounting register: what it is and how to keep it
The accounting register is the heart of the condominium financial report: it records every cash movement in chronological order within thirty days. Here is what it must contain, how to compile it and why it underpins the transparency of the whole management.
ReadCorrecting an Already Approved Condominium Report
An approved report is not untouchable. Here is when and how the owners' meeting can correct accounts already resolved and what the alternatives are if an error emerges after the vote.
ReadPainting the stairwell: who pays in a condominium
Painting the stairwell walls is a common expense. The prevailing criterion is Article 1124 of the Italian Civil Code, half by thousandths and half by floor height. Here is when it changes and who pays between owner and tenant.
ReadSewer and Drain Cleaning: Who Pays in a Condominium
Cleaning common sewers, drain pits and septic tanks is a condominium expense, but the criterion changes when the work concerns a common collector versus a vertical stack serving only some units. Here is how to allocate it correctly.
ReadUnexpected expenses during the year in a condominium
A breakdown, an unplanned repair or a sudden cost increase can upset the estimated budget. Here is how the condominium manager handles and allocates unexpected expenses during the year without disputes.
ReadDefault Interest and Legal Costs of a Defaulting Owner
A defaulting owner is not liable only for the unpaid principal: interest and recovery costs follow the claim. Here is how they are calculated and who really bears them.
ReadThe Condominium Cash Journal (Prima Nota) Explained
The cash journal is the chronological diary where the administrator records receipts and payments day by day. It is the basis from which the accounting register and the annual report are built.
ReadActive and passive residuals in condominium accounts
Residuals link one fiscal year to the next: receivables to collect and debts to pay that stay open at closing. Here is how to present them correctly in the statement of assets and liabilities.
ReadExpenses by differentiated use: Article 1123 paragraph 2
Not all common expenses are split by ownership thousandths. Article 1123 paragraph 2 requires a use based criterion when a thing serves owners to a different degree: examples, use tables and limits.
ReadOverhanging and recessed balconies: who pays condominium expenses
Not every balcony is treated the same way when a repair bill arrives. An overhanging balcony belongs to a single owner, while a recessed balcony can follow the logic of shared floor slabs. Here is how they differ and when the front edge and underside become a shared expense.
ReadTerrace at floor level in Italian condominiums: who pays for repairs
When a terrace at floor level also covers the apartments below it, repair costs are not simply charged to whoever uses it. Here is how article 1126 of the Italian Civil Code applies and how the expense is split between the exclusive user and the owners underneath.
ReadCash Advances: Must the Condominium Manager Pay?
Many assume the manager will cover common expenses out of pocket when the account runs dry. In fact no rule requires it: the duty to provide funds lies with the owners. Here is what the mandate says and where the real limits are.
ReadCondominium mailboxes: who pays for replacement
Replacing the bank of mailboxes is a condominium expense: it is split among the owners, usually in equal shares or by thousandths. Here is when the owners' meeting decides and when the tenant is not involved.
ReadYear-end closing of condominium accounts
Closing the fiscal year turns a year of transactions into a readable statement. We walk through the operations in order, from cash reconciliation to carrying balances forward, so you reach the meeting with verifiable accounts.
ReadImmediately Enforceable Payment Order in a Condominium
The immediately enforceable payment order is the main tool for collecting unpaid contributions. Here is how it is obtained, which documents are required and how the defaulting owner can defend himself.
ReadCommon Mistakes in the Condominium Financial Report
A flawed financial report opens the door to disputes and challenges. Here are the typical mistakes managers make when preparing the year-end accounts and how to avoid them.
ReadErrors in millesimi tables: rectification and revision
An error in the millesimi tables makes someone pay more than they should. Article 69 of the implementing provisions distinguishes rectification for error from revision for changed conditions: procedures, majorities and limits.
ReadCommon Area Lighting: How to Split the Electricity Cost
The electricity powering stairwell, entrance hall, courtyard and garden lights is a recurring cost. Allocation depends on the common part served: ownership thousandths for halls and outdoor areas, the stair criterion for stairwell lighting.
ReadCondominium Bank Reconciliation: A Practical Guide
Bank reconciliation compares the movements on the bank statement with those in the condominium accounting register. It is the check that ensures the balance stated in the annual report matches the money actually held in the account.
ReadStructure of the condominium financial report (Art. 1130-bis)
The condominium financial report is not a mere list of expenses. Article 1130-bis of the Italian Civil Code sets a precise three-part structure: accounting register, financial summary and explanatory note. Here is what each part contains and why it matters for a valid approval.
ReadRoof Terrace for Exclusive Use in Italian Condominiums: Who Pays the Costs
When a rooftop terrace, or lastrico solare, is granted for the exclusive use of one unit owner, repair costs are split under Article 1126: one third to the exclusive user, two thirds to the owners below who rely on it as roof cover.
ReadRecovering debts from the previous management in a condominium
When an administrator takes over, they often inherit arrears that arose under the previous management. Here is who has standing to act, which documents are needed and how to recover the sums due.
ReadCharging personal expenses to a single condominium owner
The owners' meeting cannot load an expense onto a single owner at will: common expenses are shared by law. Here is when charging personal expenses is actually possible and when the resolution becomes void.
ReadPositive and negative management balance in an Italian condominium
Every financial year closes with a balance, positive or negative. Here is what the condominium management balance really expresses, how the conguaglio arises and why holding cash does not always mean holding a surplus.
ReadThe explanatory note of the Italian condominium financial statement
The explanatory note is one of the three mandatory parts of the Italian condominium financial statement required by article 1130 bis of the Civil Code. Here is what it must contain, what it is for and why its absence makes the approving resolution voidable.
ReadThe condominium reserve fund: what it is for and how to set it up
The condominium reserve fund is a set-aside that gives the building immediate liquidity for current expenses and unexpected costs. Here is what it is for, how it is set up and how it differs from the special fund for extraordinary works.
ReadSplitting metered water costs in an Italian condominium
When a condominium has individual water meters, the cost is split with a mixed system: a fixed share and a share tied to real consumption. Here is how to set up a fair, verifiable allocation.
ReadReimbursement of expenses advanced by the condominium administrator
When an administrator pays suppliers and utilities out of pocket, they are entitled to reimbursement. Here is when the right applies, what documentation is needed and how long there is to claim it.
ReadThe condominium statement of financial position explained
The condominium statement of financial position is the snapshot of the accounting balances at year end. Here is what it contains, what article 1130 bis of the Italian Civil Code requires and how to read it within the annual report.
ReadThe condominium accounting register: what it must contain
The condominium accounting register is one of the administrator's mandatory documents. Here is what it must contain, by when movements must be recorded and why it is the backbone of the financial statement.
ReadCondominium expense adjustment: how to calculate it
The condominium expense adjustment is the difference between what owners paid in advance under the budget and what the building actually spent under the final accounts. Here is how it is calculated and who owes it.
ReadCash or accrual basis in Italian condominium accounting
Condominium accounting on a cash or accrual basis is one of the choices that most affects the clarity of the financial statement. Here is the difference between the two bases and why case law requires a mixed system.
ReadThe condominium account statement: how to read and check it
The condominium account statement is a snapshot of each owner's financial position: what they owe, what they have paid and the balance at the end of the period. Here is how to read the condominium account statement and check its items.
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