A Vereniging van Eigenaars (VvE) is an owners’ association. If you buy an apartment, you automatically become a member of the owners’ association. Membership cannot be cancelled and lasts as long as you are owner of the apartment. All other apartment owners within your apartment complex are also members of the owners’ association.
Together with your neighbours, you are responsible for the management and maintenance of the building and the common areas within that building. In this context, the owners’ association is legally required to reserve money in a reserve fund. Owners pay a contribution every month.
An owners’ meeting in which all members of the owners’ association can participate is held at least once a year. During this meeting, important decisions are taken on the basis of votes. The chairman chairs the owners’ meeting. In addition, the owners’ association can have a board.