Legally, condominium ownership is governed by Art. 712a ff. of the Swiss Civil Code (ZGB) and is registered in the land register as its own property. Each unit has a so-called value quota (e.g. 85/1000) that determines the share of the common property, the voting power in the owners' assembly and the share of communal costs. The special right covers the interior of the apartment; load-bearing walls, pipes, the roof and the surrounding land remain communal. The deed of constitution defines exactly what belongs to the special right.
Buying a condominium follows the same steps as buying any property: public notarisation, entry in the land register and financing via a mortgage. In addition, you receive the community's regulations, which set out rules of use and administration (e.g. pets, subletting, structural changes). Once a year the owners' assembly meets to decide on the budget, annual accounts and larger renovations – depending on their scope by simple, qualified or unanimous majority.
A central element is the renovation fund (Erneuerungsfonds): all owners pay into it continuously so that the roof, facade or lift can later be renovated without a sudden large special levy. As a rule of thumb, around 0.5 to 1 % of the building's insured value per year is often set aside (no guarantee). On top come the running service charges and an administration fee, which with an external manager is often around CHF 300 to 600 per unit per year (no guarantee).
Condominium ownership suits anyone who wants home ownership without maintaining a whole house – typically in apartment blocks in cities and their suburbs. Before buying, check the regulations, the minutes of recent assemblies and the state of the renovation fund. An underfunded reserve or a divided community can become expensive and stressful later. For complex situations, a legal review of the deed of constitution is worthwhile.