What are the duties of the provisional director?

The first obligation of the provisional director is to insure the immovable property in the name of the syndicate of co-owners. He will afterwards have to proceed to the adoption of the initial budget of the divided co-ownership. The first directors will have to proceed to a realistic evaluation of the common expenses and contingency fund. It is important to understand that some developers, to facilitate the marketing of their units, can undervalue the monthly common expenses necessary for the proper operation of the co-ownership. This approach can eventually cause unpleasant surprises to new purchasers and be a source of conflicts between the developer and the new co-owners. It is therefore desirable to properly evaluate the scale of needs and expenses of the co-ownership in order to establish a fair budget forecast.