Real Estate /
Extra costs when buying a flat in Poland [13]
How does that fund work? I mean, do you have the warranty that they will eventually end up renewing the building? And when they do, can they charge an extra lump sum?
they can raise the fundusz remontowy part of the czynsz for a time after finishing some bigger renovation project - I never heard of lump sums charged but maybe it can depend on what is the owner status (if it's housing cooperative or a pirvate owner)
the renovation fund works this way: financial recources are gathered for a time for a planned investition, after the necessary sum has been gathered the investition takes place (housing cooperatives and private owners can hasten the carrying out of the investition (some kind of renovation) by taking credit and then raising the renovation fund part of rent for a time) - when the renovation fund contribution is low it can take a lot time between investitions (and renovating the outside of the building is often a pretty expensive investition)
