The Ledgers a Building Must Keep by Law

Keeping ledgers in a residential building is not a matter of preference but a legal duty. One of the manager’s duties under Article 35 is, in terms, “to keep the ledgers”.

1. The owners’ assembly decision ledger

Under Article 32, decisions of the owners’ assembly are written into a ledger with page numbers running consecutively from one, each page bearing the notary’s seal, and signed by all owners present at the meeting.

Those voting against record the reason for their dissent alongside their signature.

Why it matters: in a dispute, the decision ledger is the first document a court asks for. A ledger without notarial certification or with unnumbered pages becomes doubtful as evidence, which means you may be unable to prove a decision that was validly taken.

2. The operating ledger

Under Article 36 the manager must keep an operating ledger showing income and expenditure. This too is certified by a notary.

Every item of income and expense is entered with its supporting document. On request, the manager must open the ledger and the documents to inspection by the owners.

3. The audit ledger

Article 41 gives the owners’ assembly the power to audit the manager. The assembly may delegate the audit to an auditor chosen from among the owners or to a three-person audit committee.

The auditor’s reports and the discharge granted are recorded in a notarised audit ledger, kept available for inspection by the owners.

Do digital records replace the ledgers?

No. Digital systems do not take the place of the statutory ledgers, but they make preparing them far easier. In the buildings we manage, all income and expenditure and all assembly decisions are held in NovaBina; the notarised ledgers are then written up from those records completely and consistently. The ledger complies with the law, and owners have immediate access to the information in between.