Housing
A new condominium law is coming: more security and trust, but prices may also rise
The government is preparing a new law to regulate condominium management companies, which is currently undergoing internal government review. The proposed legislation would require companies to hold professional liability insurance, undergo mandatory training, and maintain a written service contract, with the potential for license revocation for non-compliance. These requirements may increase operating costs for small firms, which could be passed on to residents as higher management fees.
Why it matters
If you live in a condominium managed by an external company, you may face increased management fees once this legislation is approved and enacted, as companies incorporate the new costs of mandatory insurance and professional certification.CNN PortugalRead original ↗
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