How can I tell if a Parisian building is well managed and maintained?

As you probably know already, most properties in Paris are apartments. The building in which the apartment is situated is co-owned by all the building’s apartment owners, called the “copropriétaires,” literally co-owners. The co-owners jointly mandate a “Syndic,” a building management company, which looks after the day-to-day of the building (cleaning, putting out the trash…) and also the longer term maintenance of the building (lift maintenance, façade cleaning, painting of the common parts…). The co-owners pay the Syndic and the maintenance costs depending on the size of their apartments.

When you have a shortlist of 2 or 3 apartments that you are interested in buying, the seller’s agent will provide documents related to the building. This will include minutes of recent annual general meetings (AGMs in French) and information about the management of the building. It is important to understand and analyze these documents to know how the building is managed and what costs are upcoming. Blue Sparks can guide you through this stage of the buying process — identifying red flags in annual meeting minutes, spotting upcoming building costs, and assessing the property’s true current and long-term value by reviewing renovation needs, neighborhood or municipal plans, and any nearby developments that could impact price or views.