Property Manager: Legal Obligations and Fees 2026

The property manager is the central actor in managing a co-ownership building. Designated by the general assembly of co-owners, they assume legal, administrative, financial and technical responsibilities governed by the Law of July 10, 1965 and its implementing decree of March 17, 1967. Understanding their obligations and fee structure allows co-owners to better control the management of their real estate assets and avoid budget overruns frequently observed in multi-unit buildings.

Legal obligations of the property manager

The property manager is required to execute decisions of the general assembly and manage the building in accordance with the co-ownership regulations. Their mandatory duties, strengthened by the ALUR Law of March 24, 2014, include:

• Maintenance of the building logbook (Article L.721-1 of the CCH), a mandatory document recording work performed and ongoing maintenance contracts.

• Opening a separate bank account in the name of the co-owners' syndicate (ALUR Law), except by exemption voted at GA for small co-ownerships of fewer than 16 units.

• Provision of a secure extranet allowing co-owners to access co-ownership documents (ELAN Law 2018).

• Annual convocation of the general assembly within six months following the close of the accounting period.

• Subscription to professional civil liability insurance and possession of a financial guarantee.

The property manager must also register the co-ownership in the national register maintained by ANAH, an obligation established by the ALUR Law to improve transparency of the French real estate market.

Structure of property manager fees

Since the decree of March 26, 2015, property manager fees are governed by a standard contract that clearly distinguishes two categories of services:

The annual flat fee covers routine tasks: accounting management, administrative management, annual GA convocation, extranet maintenance, fund calls, etc. This flat fee generally varies between €150 and €300 per unit per year depending on building size and region.

Special services are subject to additional billing: organization of additional general assemblies, claims management, monitoring of major work, delivery of documents for a property transfer (dated statement invoiced at maximum €380 including tax according to the 2020 decree), contentious collection, etc.

Co-owners must be vigilant about excessive fees: any service not listed in the flat fee must be explicitly stated in the contract to be billable.

Control of the property manager by co-owners

The syndicate council, elected by the general assembly, plays a decisive role in controlling the property manager. It reviews accounts, verifies quotes and may request communication of any document relating to management. In case of serious breach, the GA may revoke the property manager by absolute majority (Article 25 of the 1965 Law) and engage their civil or even criminal liability for breach of trust or misappropriation of funds.

Competitive bidding every three years, established by the ALUR Law, also allows for regular challenges to fees and service quality.