Társasház

A társasház is a Hungarian term referring to a type of multi-unit residential building, commonly translated as a condominium or apartment building. In a társasház, individual units are privately owned, while the common areas and the building's structure are jointly owned by all the unit owners. This ownership structure is legally defined and managed by a homeowners' association or a similar body.

The concept of a társasház originated to facilitate private ownership of apartments within larger buildings. Each owner is responsible for the maintenance and upkeep of their individual unit. For shared spaces, such as hallways, stairwells, elevators, roofs, and external walls, a common fund is established. This fund is typically financed through monthly contributions from each owner, proportional to the size or value of their unit. These contributions cover expenses like general maintenance, repairs, insurance, and often utilities for common areas.

A key aspect of társasház living is the collective decision-making process. Decisions regarding the management, renovation, and significant expenditures concerning the common property are usually made at general meetings of the unit owners. Each owner typically has voting rights, often based on their ownership share. A manager or a management company is often appointed to handle the day-to-day operations, collect fees, and oversee repairs, acting on behalf of the owners. This model is widespread in Hungary for apartment living, providing a framework for shared responsibility and ownership.