How will decisions be made within a Paris apartement fractional ownership group?
Although the property manager will have the authority to make small day-to-day operating decisions, and to handle emergencies, major decisions and supervision of the property manager will remain with the co-owners. Depending on the importance and potential impact of the decision, it will either be made by an annually elected governing board of three fractional owners, or by vote of the entire co-owner group. The decision-making process will be organized and administered by the property manager, using mail, email, or conference call, depending on the owner group and the situation, Each group’s governing agreement will specify which types of decisions are made by the manager, board or entire group, and what procedures must be followed for notice, discussion and voting.