A housing company must have a Board of Directors, elected by shareholders at the General Meeting. The board typically consists of three to five members, unless the Articles of Association specify otherwise, and selects a Chairperson from among its members. All significant financial decisions are also made at the General Meeting, ensuring transparency and shareholder participation.

The housing company’s executive body is the Board of Directors, elected annually by the General Meeting. The board selects a Chairperson and may appoint a manager to handle daily operations. The board oversees the manager’s work, and both are liable for any damage caused intentionally or through negligence to the company, shareholders, or third parties.

Contact details for the manager and the maintenance company are usually displayed on a notice board in the building’s lobby.

Shareholders must receive a notice of the General Meeting at least two weeks in advance. The notice must list all matters requiring a decision. Shareholders can request topics to be added to the agenda by submitting a written proposal to the board well before the notice is sent.

Online participation is possible if allowed by the Articles of Association and mentioned in the meeting notice. The chairperson ensures minutes are kept, typically by the property manager acting as secretary. Minutes must be available to shareholders within four weeks after the meeting.

An Extraordinary General Meeting must be convened if requested by an auditor, an operations inspector, or shareholders holding at least 10% of shares (or less if specified in the articles). The request must be in writing and state the matter to be addressed. The notice for the Extraordinary Meeting must be sent within two weeks of receiving the request.