{"id":14305,"date":"2023-08-25T10:51:00","date_gmt":"2023-08-25T08:51:00","guid":{"rendered":"https:\/\/myhome.at\/?p=14305"},"modified":"2024-01-08T07:08:07","modified_gmt":"2024-01-08T06:08:07","slug":"minimum-reserve-financial-buffer-for-repairs","status":"publish","type":"post","link":"https:\/\/myhome.at\/en\/minimum-reserve-financial-buffer-for-repairs\/","title":{"rendered":"Minimum reserve: financial buffer for repairs"},"content":{"rendered":"\n

Minimum reserve: financial buffer for repairs <\/strong><\/p>\n\n

The maintenance of residential buildings, which is paid for from the repair fund, can be very expensive. To ensure that the pot is filled, a legally prescribed minimum amount for the monthly reserves has applied since July.<\/p>\n\n

If properties require various maintenance work or need to be renovated, the community of owners can incur considerable costs. Just think of the decarbonization measures. <\/strong>According to studies, this can cost up to 400 euros per square meter. <\/p>\n\n

In order to be prepared for this and similar work, communities of owners are legally obliged to build up reserves. “They are the owners’ financial buffer for financing maintenance and improvement work or repairing damage,” says lawyer Valentina Philadelphy-Steiner. So far, however, the reserves built up have often not been enough to cover the costs. “The legislator only spoke of a ‘reasonable’ amount,” says Philadelphy-Steiner. <\/p>\n\n

In the past, the owners (or the property manager) were therefore free to determine the amount of the minimum reserve to be paid each month themselves. “There were two views: One side practiced thrift and only wanted to have necessary work carried out, while the other wanted to keep the property in good condition for the long term,” says the lawyer.<\/p>\n\n

\"Minimum
The minimum reserve for real estate has been required by law since July 2022<\/figcaption><\/figure>\n\n

Since July 2022: New minimum reserve<\/strong><\/h3>\n\n

In view of the energy transition to be mastered, the legislator has reacted and set a minimum reserve as part of the amendment to the Condominium Act, which has been mandatory since July 2022. It is 90 cents per square meter of floor space per month. The minimum reserve is revalued every two years in line with the CPI; it will be adjusted for the first time on 1 January 2024. <\/p>\n\n

But there are also exceptions: According to the law, the minimum monthly reserve can be lower, namely <\/p>\n\n