We help you form a condominium association. You need at least 3 board members and we come up with bylaws that are adapted for reorganization. The association is then registered with the Swedish Companies Registration Office and here we draw up all the documents. The process of converting rental properties into residential properties usually continues with an investigation of how many of the tenants are interested in a conversion, i.e. how many are interested in buying the apartment. In parallel, the interest of the property owner/landlord in selling can be determined
the property

When the association is registered with the Swedish Companies Registration Office, a declaration of interest is submitted to the registration authority at the Land Survey. It means a formal declaration that you want to buy the property and thus you can get a home delivery service. In summary, this means that you have a right of pre-emption for two years, which, however, only applies if the property changes owners. When this is done and if there is interest from the property owner, we have an initial discussion with the landlord about the price for the property.

The apartments are valued by an independent and local broker from an established brokerage firm. The valuations form the basis of the price in connection with the conversion and are made through site visits, comparisons with equivalent objects and the information available on the property.

When the condominium association and the property owner have agreed on a price for the property, we draw up a preliminary financial calculation
Based on the inspection, the apartments’ valuations, historical operating costs, quotes from insurance companies, banks and administrators, we put together a
financial plan for the association. The financial plan provides an overall picture of the prospective association’s finances and includes, among other things, input and
annual fee per apartment, the association’s future costs for maintenance and repairs, financial costs, insurance, etc. The plan is then reviewed
of two, the donor is certified to ensure that the calculation is sound and sustainable. The document will also be scrutinized and sensitivity tested by the banks. It also serves as a decision-making basis for the members when deciding whether to go ahead and buy the property. The financial plan is registered with the Swedish Companies Registration Office, which ensures that the certifiers have the right authority.

We hold information meetings with all tenants and present a calculation where each tenant knows what the apartment will cost and
what the monthly fee will be. Every tenant has the opportunity to ask questions and raise other concerns regarding the conversion process and to discuss
his own calculation.

The board then calls an extra association meeting where the tenants must vote on whether to acquire the property on the proposed financial plan.
At least 2/3 of the tenants must vote yes for a change to be possible. However, voting yes does not mean that you commit to buying your apartment. The vote only applies to whether the condominium association should be given the opportunity to buy the property or not. You as a resident can still vote
yes, even if you want to continue renting your apartment. In such cases, the condominium association will be your new landlord. Management and maintenance
will usually be handled by a professional, external administrator with whom the board of the association negotiates and enters into an agreement.

Both the association and the individual members usually need to borrow money to be able to buy the property and the condominiums. We help here by negotiating the best loan terms possible. (We thus help with loan increases and ensure the association’s financing. Through procurement of banks, we ensure the best possible conditions for both the association and individual households.

When enough people have their financing granted, an access day is booked where the association formally buys the property. On the day of access, the board and the landlord meet, usually at the bank, to sign the agreement and ensure payment for the property. In order for the association to officially own the property, the housing association needs to apply for legal title to the Land Survey (the bank usually does this for the housing association).

On the day of access, the property owner/landlord hands over the keys, documents and other documents belonging to the property. When the union is
owner of the property, it also takes over responsibility for management and commitments towards potential tenants. The board starts up the administration
together with any procured suppliers, e.g. financial management.

We hold board training for the condominium association’s board so that they get a good start in their work for the association.