When buying an apartment, the quality of the homeowners’ association (Vereniging van Eigenaren or VvE) may not be the first thing you consider, but it is one of the most important factors. While the monthly service charges are usually visible, they don’t always tell you whether the VvE is active or if the fees are sufficient to maintain the property properly.
A well-functioning VvE is essential. If the service charges are too low and the reserve fund is insufficient, necessary maintenance may be delayed. This can reduce the value of individual units or even result in unsafe conditions. In extreme cases, the municipality may intervene and pass the costs on to the apartment owners. If the VvE lacks funds, unexpected one-time contributions may be required — which not every owner may be able to pay.
The VvE is responsible for creating a long-term maintenance plan, drafting annual budgets and financial statements, maintaining insurance coverage, collecting owner contributions, and overseeing maintenance of the property. In many cases, these tasks are handled by the owners themselves, rather than by a professional management company. This can lead to tension between neighbors — especially if someone needs to be reminded to pay or contribute.
In short, a properly managed VvE protects the value of the building and your apartment, prevents unpleasant surprises, and helps maintain good relations with your fellow owners.
