Managing a property
A tenant owned cooperative housing association is responsible for managing its property. This means ensuring that the daily maintenance and supervision of the property is functioning, that repairs are made for any non-owning tenants, and that electricity, heating and waste disposal systems are working as they should. The association is also responsible for planning, financing and implementing the major renovations that the property requires.
The board is the long arm of the tenant-owners with regard to matters such as the condition and maintenance of the property, as well as the finances of the association. There are legal requirements that the tenant owned cooperative housing association must satisfy in its capacity of a property owner, with regard to both technical management and financial management. You can find additional information on, inter alia, the sites of the Board of Housing, Building and Planning, the Swedish Companies Register and the Tax Authority.
The technical management of a property includes the care and maintenance of the property. This can range from daily operations, such as cleaning the stairs and repairing problems that arise, to major issues, such as heating, ventilation, replacement of major systems and facade renovation. Financial management relates to the association’s finances, from budget management and loans, if any, to annual statements and ongoing bookkeeping.