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When a property has multiple owners, who decides on issues such as technical system upgrades – and who pays the bill? Co-ownership does not need to be a challenge when resources and networks are used effectively. The key is professional property management: administrative and legal expertise combined with transparent operating practices. A clear division of responsibilities and smooth decision-making reduce risks, speed up actions, and support the lettability of commercial premises.
Commercial properties with multiple owners – such as shopping centres, parking facilities, or office complexes – may have several stakeholders with differing objectives. This makes cooperation and compromise between owners essential.
Retta Management effectively acts as the CEO of the property company and ensures equal treatment of all shareholders. General meetings, shareholder communication, and the execution of decisions require careful coordination and clear processes. Trust is built through up-to-date reporting on finances and maintenance (cost allocation, investments, maintenance status, risks) so that decision-making is fact-based and all owners operate on an equal footing.
“We serve our clients flexibly: in some properties we only provide technical management, which does not include administrative services. Our role also depends on whether the property is owner-occupied or an investment asset with spaces leased to tenants,” says Petri Nurmi, Unit Manager at Retta Management.
In multi-owner properties, contractual structures tend to be more complex. Lease agreements, responsibility divisions, and procurement decisions may differ by share or owner, which increases the need for clear property management and careful documentation.
Financial monitoring and billing also deviate from the standard: the distribution of shared costs, allocation of maintenance expenses, and invoicing of repair responsibilities must be precisely defined. Often, a separate cost allocation model and transparent reporting are required.
In a multi-owner property, technical maintenance and safety are more demanding because responsibilities are shared among owners with different goals and risk tolerances. Shared systems (heating, ventilation, security) serve all parties, but usage and benefits do not always divide evenly. This requires precise agreements on cost and responsibility allocation.
Decisions on maintenance, changes, and investments require collective approval and documented processes, while regulations emphasise verifiable inspection and maintenance practices. In case of disruptions, clear interfaces – who orders, who pays, who informs – ensure quick response and effective risk management.
In multi-owner environments, the needs of different space users and the terms of their lease agreements may conflict, which calls for clear rules, predefined processes, and impartial coordination. Communication must be properly timed so that it reaches all owners and users equally.
Responsibility and liability issues also become more complex with multiple owners: statutory obligations and divisions of responsibility must be precisely defined in contracts and everyday operating practices to keep risks under control and cooperation smooth.
One Owner or Many – Retta Management Provides Complete Property Management Services for Commercial Spaces
Our experienced specialists and digital tools make cooperation reliable and seamless.
Immo SuutarinenDirector, Commercial Property ServicesRetta Managementimmo.suutarinen@rettamanagement.fi+358 400 518 868
Petri NurmiUnit ManagerRetta Managementpetri.nurmi@rettamanagement.fi+358 40 556 5544
