Condominium Bank Account: The Owner's Right to Check It

The money collected from owners to manage the common parts must pass through a dedicated bank account, separate from the administrator's personal assets. This is required by Article 1129 of the Italian Civil Code, which imposes the obligation of a condominium bank account in the name of the condominium and gives each owner the right to inspect and obtain a copy, at their own expense, of the account's periodic statements. It is the tool that ensures the transparency of financial management and lets the individual check that the sums paid in are used for the condominium.

The obligation of a dedicated account

Article 1129 states that the administrator must channel the sums received on any account from owners or third parties, and those paid out on behalf of the condominium, through a specific bank or postal account in the name of the condominium. Separating the condominium's assets from the administrator's personal assets serves to avoid confusion and misappropriation and to make every movement traceable. Breaching this obligation is a serious irregularity that can justify the removal of the administrator.

The owner's right of inspection

The same rule provides that each owner, through the administrator, may ask to inspect and obtain a copy, at their own expense, of the periodic statements of the bank account. It is an individual right, exercisable at any time and not only at the meeting that approves the accounts. The owner does not need to state a reason for the request: transparency over the management of common money is a value in itself and does not require proof of a specific interest.

What the owner can check

Through the account statements and the accounting records the owner can verify several aspects of the management:

• the payments of shares by owners and any arrears;
• the payments made to suppliers and service providers;
• the match between the expenses resolved and those actually incurred;
• the account balance and the availability of any funds, such as the fund for extraordinary works.

How to exercise the right

The request must be addressed to the administrator, who is required to allow inspection and the release of copies of the documents. The costs of making copies fall on the requesting owner, but access to inspection cannot be made subject to conditions that in practice prevent it. The administrator must organise the arrangements so that the right is effective, for example by agreeing a time for consultation or making the documents available in digital format, without unjustified obstacles.

The link with the annual statement of accounts

The right to inspect the account sits alongside the annual condominium statement of accounts that the administrator must prepare and submit to the meeting. The statement, governed by Article 1130-bis of the Italian Civil Code, includes the accounting register, the financial summary and a brief explanatory note on the management. The ability to consult the bank account statements at any time completes the picture, allowing continuous rather than merely annual control over the management of common money.

Continuous transparency for owners

Digitalisation makes the owner's right of verification simpler and more effective. With AmministraPro the administrator keeps the accounts linked to the movements and makes the up-to-date accounting position, expense documents and statement of accounts available to owners through the dedicated portal, in a tracked and consultable way. Transparency thus becomes continuous and the owner can check the management without friction. The accounting and owner portal features are described at /funzioni, while the plans for the practice are at /prezzi.