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Old 07.05.2012, 20:10
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Management cost PPE- what are yours?

Hello,
I am now the proud owner of a flat but I am amazed by the cost of the PPE management cost.
the PPE is 19 flats with a global budget of 125 000 CHF estimated out of which 15 000 CHF are only to pay of the management company.
Does it compare to yours?
It is actually hard to get online quotes from other company to check we are within normal prices. It does seem like a ripp off to me, but switzerland never seems to stop surprising me.

cheers,
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Old 07.05.2012, 21:10
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Re: Management cost PPE- what are yours?

HI,

Maybe this comment is not needed, but didnt you think about it before getting one?

Best,
Luke
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Old 08.05.2012, 11:23
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Re: Management cost PPE- what are yours?

15k is about par for management costs for a PPE of 19 flats.
The management costs are negotiable and you can essentially throw them out at your annual meeting. Probably not a good idea to change every year as it will be impossible for them to keep up.
No harm getting competitive quotes, but you'll want to do that with a group of neighbours and have some reason for changing (too expensive, incompetent or whatever). There's no point in going out on your own to do this, you'll only get your neighbours up your back.
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Old 08.05.2012, 11:40
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Re: Management cost PPE- what are yours?

  • What is a PPE?
PPE or Propriété Par Etage - Ownership by Floor - is the Swiss name for condominiums. You own your apartment, garage and cellar plus a share of the common parts of the buildings. You have to pay charges every year to cover maintenance of the building as well as the purchase price.
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Old 08.05.2012, 11:42
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Re: Management cost PPE- what are yours?

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Hello,
I am now the proud owner of a flat but I am amazed by the cost of the PPE management cost.
the PPE is 19 flats with a global budget of 125 000 CHF estimated out of which 15 000 CHF are only to pay of the management company.
Does it compare to yours?
It is actually hard to get online quotes from other company to check we are within normal prices. It does seem like a ripp off to me, but switzerland never seems to stop surprising me.

cheers,
ouch. it doesn't surprise me. when i first moved here, i looked at a flat with similar charge. when you figure it can be the equivalent of 6 months rent (in schaffhausen), buying makes no economic sense at all!

this is the reason i would avoid buying a flat - it is like signing a blank cheque every year for the rest of your life.
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