vve

Vereniging van Eigenaars, abbreviated as VvE, is the legal entity formed to manage and represent the owners of a building with shared parts, such as a block of flats or a condominium. It typically comes into existence when a property is split into separate units, with a splitsingsakte (split deed) and a reglement van splitsing registered in the public registry. The VvE is responsible for the upkeep of common areas and for making sure the building operates as a single, shared property.

Members of a VvE are the property owners. Governance is through a board (bestuur) elected by the owners at general meetings. Decisions are taken by votes, with voting rights generally tied to each owner’s share in the building as described in the splitsingsakte. The general meeting approves the annual budget, accounts, major repairs, contracts, and the reglement. The board handles day-to-day management and enforcement of the reglement.

Key duties include maintaining and repairing common parts such as stairwells, roofs, and elevators, arranging building insurance and service contracts, and managing the association’s finances. The VvE collects service charges (kosten) from owners to cover these costs and typically maintains a reserve fund for future large-scale works. It is expected to keep proper accounting and provide transparent annual financial statements.

Legal framework and status: In the Netherlands, VvEs operate under Boek 5 of the Civil Code and commonly possess legal personality. They act independently to manage jointly owned property on behalf of the owners. Compliance issues, payment disputes, or governance conflicts can lead to actions by the association, courts, or public authorities if necessary.