The boiler breaks down in January. The roof starts leaking. The lift needs a spare part. In a building without a reserve fund, every surprise like this means an emergency collection, delays and often tension. A reserve fund (apothematiko) is the simplest way to avoid all of that.
What a reserve fund is
It is an amount collected gradually from the owners and set aside for future repairs, replacements and unexpected costs. It is not used for day-to-day running costs such as electricity or cleaning.
Why it is worth having
- Fast response: a breakdown is fixed without waiting for a meeting and a collection.
- Smooth costs: a small monthly amount instead of a large one-off charge.
- Better prices: with funds available, the building can request quotes and negotiate.
- Fewer disputes: one-off charges are among the most common causes of unpaid common expenses.
How it is decided
Creating a reserve fund, its size and its purpose are decided by the general assembly, unless the regulations already cover it. The decision should record:
- The target amount or the monthly contribution.
- How it is split (usually by general per-mille shares).
- What it can be used for and who approves its use.
- Where it is kept (ideally a separate bank account).
How big should it be?
There is no single right amount for every building. A practical approach is to estimate the major expenses expected over the next few years and spread them into monthly contributions:
| Possible expense | Example |
|---|---|
| Lift | Spare parts and repairs not covered by the maintenance contract |
| Heating | Repair or replacement of the boiler, pump or tank |
| Building envelope | Roof insulation, stairwell or facade painting |
| Plumbing | Replacing shared pipes, water pump |
Ask contractors for indicative prices for the works you expect and set a monthly amount the owners can afford comfortably.
Owner or tenant?
Reserve fund contributions preserve the value of the property, so they are usually paid by the owner rather than the tenant, unless the lease says otherwise. See who pays what in detail.
What happens when an apartment is sold?
The reserve fund belongs to the building, not to each owner personally. Common practice is that it stays with the building and the new owner “inherits” the previous owner’s share, and the matter is often settled in the sale contract. If the regulations or an assembly decision say something specific, that applies.
Transparent management
The reserve fund should appear separately on statements, so every owner can see how much they have paid and what the balance is. In BeeManager the reserve contribution is entered as its own category and split automatically with the rest of the common expenses.