How to fix the price of a property to rent in Luxembourg.jpg

It is not always easy for new landlords to find a balance between a fair and profitable rent for their tenants. There are many factors to consider in order to set the right rental price for a property in Luxembourg. All the elements that will help you think about it are here.

## Follow the rent regulations in Luxembourg

You should check the legal limit before renting out your property in Luxembourg City. Legislation passed on September 21, 2006 regulates residential leases.

For example, if you rent your apartment without any furniture, the monthly rent you charge must be less than five percent of the total amount you spent on the property. This amount is calculated by multiplying the initial investment by 0.05% and then dividing it by 12 (for the 12 months of the year).

## Adjusting the rent based on the size of the unit

In reality, smart investors in Luxembourg realize that square footage is not the only aspect that matters when setting rental rates. In fact, if everything else is equal in terms of location and amenities, a larger apartment will rent for more. However, the final cost depends on a number of factors.

## Knowing local prices

When looking for a place to rent in Luxembourg, location is one of the most important factors to consider. Apartments near the city of Luxembourg, for example, can command a high price because the area is highly sought after. Cappellen-Mersch and its surroundings are another great location.

However, Esch-sur-Alzette and the North Canton remain less desirable because of their greater isolation. For example, rents in Luxembourg City are much lower than in this area.

## It's essential to look closely at the foundation of your home

Once you've decided on the area and size of your new apartment, you can consult a real estate agent in Luxembourg who specializes in rentals.

He or she will be able to advise you on the best ways to increase the rental value of your apartment, for example by installing a fully equipped kitchen, including a parking space, connecting the living room to a nice balcony or using authentic materials such as parquet flooring.

However, in the world of modern apartments, where people are looking for quality services, things like low ceilings, rooms that are a bit small to accommodate a double bed, poorly equipped kitchens and the lack of electric shutters can be a drawback. Common area features (elevator, lobby decor, keypad, etc.) can work in your favor or against you, depending on the circumstances.

How to fix the price of a property to rent in Luxembourg ?

4 tips to easily sell your property in Luxembourg.jpg

If you own a home in Luxembourg and are looking to sell it, you are probably concerned about two things: getting the most money possible and selling the home quickly. When you're trying to achieve these two goals, how can you find common ground? Find out the most important information that can help anyone sell a house or apartment quickly and profitably.

## 1. Recommend the use of a third-party service: real estate agency

Private sale of real estate is legal in Luxembourg. Everyone has access to it, and it is within the law. However, you risk making costly mistakes if you go about it without help.

When selling your house in Luxembourg, a real estate agency can provide you with a more precise and accurate evaluation of the value of your house. Afterwards, they will only be used to advertise your house, which will increase the chances of a sale. She will be present for the signing of all the papers, but especially at the notary's office. Finally, she will be able to give you practical advice that will make your apartment more marketable and facilitate a quick sale at a fair price.

## 2. Always prepare the place for the clients

Your studio in the heart of Luxembourg City is for sale, right? Meticulously plan the layout of your rooms as soon as a visitor is expected. Clean and air all the rooms, arrange the furniture and remove any personal items that may be there before the announcement.

On a larger scale, you will benefit from maintaining a relaxed atmosphere in the apartment. In practical terms, this means aiming for a minimalist, unpretentious aesthetic with no knick-knacks, so that everyone can feel at home and express themselves. Reduce the amount of stuff in the room, keep only the essentials, and get rid of any posters, picture frames, or anything else that may intrude on your privacy.

## 3. Take a walk outside during visits

Let the agency in Luxembourg that you hired to sell your home handle all the viewings; don't attend any of the open houses. Visitors to your home will feel humiliated if you are there to greet them. They may be too afraid to fully explore the rooms, they may not dare open all the drawers and cabinets.

But in your absence, they will feel more comfortable talking to the real estate agent. They'll be more likely to stick around, ask around and make preparations. This is the best way to attract someone!

## 4. Communicate openly and honestly

Writing an ad for a private property sale in Luxembourg requires attention to detail. Take beautiful photos and write an accurate description that lists the qualities of each room in detail.

Make sure all potential buyers know the strengths and weaknesses of the property. Instead of trying to haggle over the price, make the effort to get rid of the downside if you think it will work!

4 tips to easily sell your property in Luxembourg

What do you know about Junglinster, the little Switzerland of Luxembourg.jpg

Located in the canton of Grevenmacher in the east of Luxembourg, the commune of Junglinster is composed of 12 small sections.

With its 55.38 km2, this municipality is the largest in the Grand Duchy of Luxembourg and is home to 7,802 people who make the city live.

It can be said that Junglinster is a good place to live today, thanks to its modern infrastructure, its quality services, its rich cultural heritage and its steep terrain, which is reminiscent of Switzerland.

## Discover Junglinster, a lively town where people and nature thrive in perfect harmony

Junglinster is the eastern edge of the countryside, bridging the gap between urban life and the great outdoors. With a focus on the natural environment, this city offers the best of urban vitality and rural tranquility.

Located just 17 kilometers northeast of the nation's capital, Junglinster is no match for the big cities. The standard of living for city dwellers is so high that it puts its rural counterparts to shame.

However, towards the east, the man-made structures are slowly being replaced by natural and wild environments. The village of Bourglinster is the gateway to the Mullerthal region (Mllerdall in Luxembourgish), often referred to as the little Switzerland of Luxembourg. This endearing nickname is a tribute to the high relief of the region, which is reminiscent of Switzerland, to its exceptional biome and to its spectacular rocky gorges.

Because of these factors, Junglinster has become an increasingly popular Luxembourg commune in recent years among people looking for a new house or apartment.

## Offering a full range of facilities and services

Access to a variety of excellent higher education, retail and medical facilities makes Junglinster such a desirable location. Every aspect of life in this community is geared toward the comfort and happiness of its citizens.

That's why the youth of the municipality and its communities have access to a variety of educational opportunities, including three elementary school, a middle school and the Lênster high school, which has separate German and English European sections (from age 6).

And for those who want more, the community collaborates with the nearby Maacher Gymnasium in Grevenmacher to offer after-school classes to eager learners.

Likewise, the retail offerings are so varied that people don't need to travel across the country to find what they're looking for in this community. In fact, in addition to local stores, residents of the city have access to the "Laangwiss Center" and "Lènster Bierg", two shopping centers with cutting-edge designs that are perfect for retail therapy.

Finally, the municipality is home to a wide variety of businesses and professionals, including banks, businesses, garages, restaurants, transportation services, doctors, pediatricians, pharmacists and physical therapists, to name a few, to provide a full range of services to the local population.

## A wide variety of associations and organizations serving various interests

Thanks to its natural setting, the municipality offers excellent hiking opportunities and beautiful views. Through the forests, fields and valleys of the town of Junglinster, you will find 230 kilometers of hiking trails.

A golf course, two soccer fields, five outdoor tennis courts, a swimming pool and numerous gyms are just some of the many sports facilities available in the city.

## Culture and Tourism in Junglinster

There is no time to be bored in Junglinster. The cultural center Am Duerf, for example, hosts year-round exhibitions, performances and workshops for people of all ages.

The history of the town is a major attraction for holidaymakers all year round. Some of the most notable structures include a baroque church, a splendid 18th century farmhouse that now serves as the town hall and, of course, the famous medieval Bourglinster Castle, which has been modernized to house theaters and a gourmet restaurant.

Alongside these new homes that have been developed in an environmentally friendly manner, this historic architecture can be seen as a source of pride.

Are you looking for a long-term investment? We invite you to search for available housing in Luxembourg and Junglinster.

What do you know about Junglinster, the little Switzerland of Luxembourg?

How to study a real estate purchase offer before accepting it.jpg

Many potential buyers have seen your house or apartment for sale in Luxembourg and have made an offer. Do you want to get excited and accept right away? Give yourself the best chance of getting a good deal and spotting a great opportunity by thinking carefully about the conditions and price before confirming them.

## An offer to buy a property in Luxembourg seems like a sure thing; why not accept it?

Because time is short, you may be tempted to accept the first offer you receive for the sale of your property. However, this approach is not recommended by all professionals.

Any first offer to purchase a home or other property should be carefully considered after taking a moment to gather your thoughts. The purchase price offered is usually less than the asking price. You should not rush to sell a home that has not received much attention, as this could cause you to miss out on a better offer in the near future.

Research Luxembourg real estate even if you've made several trips and are getting impatient. Inquiries are pouring in and you are well positioned to take advantage of them. Don't even think about selling your home. Remember, however, that the real estate market is very cyclical, with certain times of the year consistently offering the best conditions.

It is recommended that you seek expert advice before making any major decisions.

## Multiple offers: comparing potential buyers

There may be several interested parties making offers on your property. When you look at real estate prices in Luxembourg city by city, you will see that not everyone has the same view. This is especially true if you live in a desirable location.

In practice, it's a matter of choosing from several approaches the one that seems most promising. If a buyer is willing to pay cash, that's more assurance than if he or she still needs the bank's approval to close the deal.

Also, a couple is better than a single person because, on average, two incomes are better than one. However, this should not be taken as an absolute truth, as it is possible to find a single person who is neither poor nor disadvantaged and has all the desirable characteristics.

## Using a third-party service to streamline the sale of multiple properties

Real estate transactions between individuals can be complicated, which is why it is in your best interest to use an agency that specializes in these types of transactions. By using this service, you can evaluate all available properties in Luxembourg and focus on the most promising ones. It will help you to select the most relevant files and to follow all the necessary administrative tasks with more efficiency and fewer errors.

How to study a real estate purchase offer before accepting it?

Last novelties in decoration for 2023.jpg

Just as the fashion industry follows the latest trends, so do interior designers. And in this industry, everything is always in motion. The interior design of a home should reflect the era and architectural style of the building. While the classics never go out of style, new approaches to interior design are constantly being developed. The 2023 interior design trends are a mix of new and old, classic and contemporary.

## In 2023, what will be trending in furniture?

This year's trend is toward natural materials and processes with the goal of reducing environmental impact. Products that have minimal environmental impact and are handcrafted are very popular. Eco-friendly design is a prerequisite for the furniture of 2023. Therefore, this year's hottest furnishing materials are:

### Refined rattan

The year 2023 will see an increase in demand for rattan furniture. This material is part of the current trend of a more natural look by bringing man closer to nature. Designers are aware of this, and are incorporating this pale yellow strip into their straw and wicker creations to build furniture and other ornamental products.

### A liaison of velvet and gold

Velvet made from natural fibers is a major trend this season. Pairing it with a gold frame results in incredibly plush chairs that invite nothing but a good book and a cuddle. Corduroy is also becoming popular for home furnishings. It's no longer just a fabric worn by music teachers; this year it will make an appearance in furniture as a popular decorating trend. Classic blue, this year's "on trend" color, looks great on it. However, there is a wide variety of colors, from subtle to bold, to choose from.

### Reuse old materials in a new way

In terms of environmental protection and sustainability, recycling can be considered the "lungs" of the planet. Everything beautiful in your home, from furniture to artwork, can be sublimated and given a new life. Upcycling is a popular trend in the home decor industry, as it allows ordinary people to get unique items by reusing discarded ones.

## This year, interior design is seeing the arrival of several natural and nostalgic styles

### The Afro style

In 2023, it will be very trendy to decorate with an African theme. The market for luxury home goods featuring traditional African motifs is flooded with options. Walls adorned with handmade natural Juju hats are chic and sophisticated in 2023.

### Nordic Style

A new trend for 2023 is a friendly Scandinavian aesthetic that emphasizes rustic wood tones and woven textiles. The cold, stark aesthetic disappears as Nordic climates warm up and become more welcoming. As a result, by 2023, wicker baskets, rattan chairs and bright handmade lighting fixtures will all find their way into a Scandinavian-inspired interior. Sleek design and shiny brass hardware are two features that appeal to us. 

### Vintage Style

The main interior design trend for 2023 will be the nostalgic cocoon look. Each piece of furniture will have a soft curvature that will make you feel at home any time of the year. For this reason, furniture with rounded corners is the best choice for interior design. Such refined furniture can give a sense of security.

## Multipurpose furniture design

In 2023, you will have multipurpose furniture to complement the new ornaments in your home. In 2023, multipurpose furniture will be all the rage, with examples being desks that can be turned into meeting tables and sofas that can be used as both sofas and beds. In 2023, multipurpose furniture is sophisticated in design, high in quality and often includes technological components. Furniture and accents are what give you a wider range of options for how you can use and enjoy your living space. The 2023 decor trend that tech lovers should focus on is multipurpose furniture.

## Craftsmanship in all its glory

One of the biggest trends you can expect to see in 2023 is a return to the classic look. You can expect to see more classic, elegant and simple handcrafted furniture pieces in the bedroom and kitchen in the near future.

Ceramic is a "must have" for any home, whether it's decorative items, dinnerware or even lighting fixtures. Do you like things more natural or polished? All kinds of colors and patterns are available, so choose what you like! Because it was created by hand, this material has a classic quality.

Last novelties in decoration for 2023

How to maintain your rental property in Luxembourg.jpg

You have invested in an apartment with the intention of renting it out; now you have to make it attractive to tenants. If your rental property in Luxembourg is not brand new, it may be worth refurbishing it. There are even a few rules to follow, so if you're considering renting a property in Luxembourg, don't hesitate to consult a real estate professional.

## Renting a property in Luxembourg: your responsibilities

While some tasks are negotiable when renting a studio in Luxembourg City, there are some legal obligations that must be respected. Indeed, landlords are obliged to provide tenants with safe, lawful and "normal" interiors.

In this regard, it is crucial that the plumbing, electrical and heating systems all function as intended. You must not put the resident at risk of, for example, fire due to a short circuit (or carbon monoxide poisoning due to a poorly maintained boiler).

You may requisition the property for up to 40 days throughout the term of the lease to make necessary repairs. If you exceed the time limit without giving the tenant notice, the tenant has the right to request a reduction in rent or to vacate the premises entirely.

## Distinguish between finding a tenant and lease-related tasks

A real estate agent in Luxembourg can help you understand which maintenance tasks are your responsibility even after you have signed a lease if you are renting a property there. This is the case when the necessary repairs are minimal and are more maintenance than renovation (unclogging drains, replacing worn joints, cleaning the ventilation, etc.).

However, if your home is currently vacant and you hope to find a tenant soon, it is in your best interest to make the necessary improvements to make it more attractive.

## Some tips for changing the appearance of your property in Luxembourg

In Luxembourg, the cost of renting a house or an apartment is rationally linked to the maintenance of the property and its location. Therefore, it is very likely that you can simply increase your rent if you make some inexpensive but beneficial improvements.

For example, consistently repainting the walls in light, neutral shades can make the house look well maintained and contribute to an air of elegance.

Floors that have suffered irreparable damage can be refinished with inexpensive, low-maintenance materials like PVC or vinyl, which can be purchased at any home improvement store.

Don't overlook the power of small details, such as installing mixing valves instead of standard faucets to improve comfort.

How to maintain your rental property in Luxembourg ?

Color trend 2022- enhance your interior with classic blue.jpg

In 2022, "classic blue" will be the color of choice for interior designers. It fits any space, from living room to bedroom to office, and can be used to great effect with simple adjustments in the placement of beautiful textiles and accent pieces.

## Tips for decorating with the color of the year

Decorating your living space with the color of the year is a surefire way to stay current. You can paint your living room "classic blue" in 2022, as this color promotes calm, confidence and a sense of well-being.

No need to rip out the carpet and paint the walls right away. You don't need to completely redesign your living room to accommodate the new style. You can, for example, replace your couch cover with a new one more in keeping with this blue design, or get new dining chairs and a tablecloth.

Whenever possible, opt for neutral colors for your walls and floor to reduce the amount of maintenance you'll need to undertake often (especially since you can quickly grow tired of the original colors).

By not compromising on your core beliefs, you can easily adapt your decor to each new season by adjusting the less permanent elements.

## Some decorating ideas with classic blue

Adding a few decorative elements won't be enough to satisfy your desire to completely redecorate your home in 2022 to reflect this incredibly trendy color. A beautiful "classic blue" can be experienced more deeply by purchasing a rug in the same tones, updating your curtains, and perhaps even repainting a small portion of a wall without redecorating the entire room in order to maintain a comfortable level of light (be careful not to darken the spaces too much).

If you want to avoid the "monochrome" trap, it's important to find complementary shades to the classic blue. Incorporating even a small amount of golden yellow into your design can make a huge difference. You can play with shades without fear of offending anyone's palate by using silver or white as an alternative.

## Should you use the classic blue color to rent or sell real estate?

You may be wondering if this kind of data is helpful in attracting potential tenants or buyers to your apartment. Do you think it's a good idea to follow the current interior design trends to add value to your home? Even if you're not trying to make a sale, playing up the initial measurements of "Classic Blue" can help convince visitors to your space.

Because even though "Classic Blue" won't be the color of the year in 2023, it's a tone that can easily be matched to any decor, bringing a very satisfying tranquility to places like the living room, bedroom or office.

Color trend 2022: enhance your interior with classic blue!

What do you know about Dudelange, an urban pearl in a green environment.jpg

With a population of 21,087 as of January 1, 2019, Dudelange, located just 20 kilometers south of Luxembourg City, is the country's fourth largest metropolitan area. This urban gem, once known for its steel production, has successfully transformed itself into a modern city thanks to its improved environment, thriving economy, wide range of cultural and sports offerings and large-scale social initiatives. Consider the benefits of living in a place that values the natural world yet is firmly rooted in the present.

## A strategic location

Dudelange is located in the canton of Esch-sur-Alzette, in the southern part of Luxembourg. This jewel of Luxembourg is less than five minutes from the French border and less than twenty minutes from the heart of Luxembourg's capital. It is also only ten minutes from the neighboring city of Bettembourg and twenty minutes from Remich, nicknamed the "Pearl of the Moselle". Those fortunate enough to live in this region can take advantage of the proximity of major highways, a comprehensive rail network and numerous bus lines.

These are valuable assets for the city, as they attract people from all over the world who want to buy a house or an apartment in Luxembourg. Indeed, its foreign population now represents about 40% of the total population and includes citizens from over 100 other countries.

## It's a city, but it's nestled in the middle of beautiful nature

In Dudelange, you can enjoy both modern comfort and the splendors of nature. Indeed, the territory of the municipality is divided between forests (24.2% of the total) and agricultural land (18.3% of the total). A lush and opulent setting, where the inhabitants can go for breathtaking hikes in the protected nature reserve of the Haard.

## Dudelange, the base for productive companies

### A city with an attractive business climate

Today, Dudelange is home to more than 700 companies, most of which provide a service to the public.

80% of the active people are employed, 13% work for the government and 6% are self-employed.

In addition, the south is home to a large number of the country's craftsmen and women. These statistics clearly show why so many companies have chosen to settle in Dudelange and its surroundings.

### A lively center where successful businesses can flourish

In the heart of the city, you will find a plethora of stores offering goods and services for all ages. There is a nice balance of restaurants, pubs and bistros in this area, which helps keep the heart of Dudelange bustling. More than a dozen stores, apartments and workplaces are spread over 4,500 square meters in the district called "Am Duerf", which has opened around the square.

## Active social, sports and cultural life

### A wide range of sports facilities

The athletes of Dudelange are frequently featured in the Luxembourg news. And this for a very good reason! Dudelange, the "hub of team sports in Luxembourg", has made it a priority over the years to develop its impressive range of sports facilities. In the René Hartmann sports center, you can choose between numerous sports activities (climbing wall, swimming pools...).

Gymnasiums, soccer stadiums, multi-sports fields and even a skatepark are available to residents for their sporting needs.

Are you a professional or athlete looking for a location in Luxembourg? Nearly 220 organizations have taken up residence in Dudelange.

### Culture at the heart of urban life

The municipal museum, the regional public library, the contemporary art center Dominique Lang and the cultural center "opderschmelz". Dudelange is a city full of cultural institutions.

### Events throughout the year

Throughout the year, Dudelange hosts many events that attract thousands of visitors from all over the world, including the Celtic music festival "Zeltik", the international festival "Like a Jazz machine", the music festival, the medieval festival "Butschebuerger Buergfest" and the medieval Christmas market.

So it is obvious that Dudelange is the best place to buy a house in Luxembourg if you attach great importance to culture.

## A happy and healthy place for children to grow up

For those looking for a family-friendly place to raise a family in Luxembourg, look no further than Dudelange. It is a haven for families because of all the wonderful resources it offers for children of all ages, including daycare centers, halfway houses, a youth center, nursery, elementary and secondary schools, including Nic-Biever, and many clubs and activities.

The bottom line? Whether you are looking for a Luxembourg apartment to rent or a Luxembourg villa to buy, Dudelange deserves to be at the top of your list.

What do you know about Dudelange, an urban pearl in a green environment?

4 reasons to buy a new property in Luxembourg.jpg

You hesitate between buying an old apartment (which would be cheaper) or taking advantage of a developer's offer to buy a new house. What are the advantages of moving to a new home in Luxembourg? The extra expense is offset by the long-term benefits of increased peace of mind.

## Enjoy first-class amenities and imagine yourself in a home built just for you

In theory, you will be dealing with a developer if you decide to buy a new home in Luxembourg. The builder will give you a lot of leeway to decide how your new home will look, feel and function. For example, you can customize the bathroom floor with tiles or another material, the living room floor with laminate, the kitchen layout according to your preferences and the bathroom equipment according to your tastes (vanity, walk-in shower, towel warmer, etc.)

## Ten-year security guarantee on all new properties in Luxembourg

The buyer of a new home in Luxembourg can rest easy, as the warranty period extends for a full decade after the completion of the building. In other words, you have preferential protection against potential defects. In the event of a moisture problem that threatens the structural integrity of the building, for example, the insurer will take over and pay for the necessary repairs.

## Budgetary savings thanks to tax and notary benefits

Buyers of primary residences in the Grand Duchy of Luxembourg can benefit from a reduced VAT rate of only 3% on all newly built houses. Keep in mind that the VAT rate will be 17% if you buy with the intention of renting it out later. However, the reduced registration fee will benefit you whether you intend to live in or rent the home.

## If you want to spend less on utilities over time, opt for an energy-efficient home

You can find luxury properties in Luxembourg City, for example, by checking out the many new programs available. Indeed, several builders specialize in designing luxurious homes with exceptional interior amenities. These homes are also desirable because of their minimal energy consumption.

In fact, as of January 1, 2017, all newly built structures within the borders of the Grand Duchy must be certified as Class AAA efficiency. They insulate superbly and allow you to turn up the heat without wasting much energy. If you use the data provided in the energy passport, you can predict: you will notice that you will pay much less electricity or gas per year if you choose a newer home than an older one.

The advantages of buying a new home in Luxembourg are numerous and easily noticeable, which is why many people are willing to take out larger loans and extend their repayment period.

4 reasons to buy a new property in Luxembourg

3 essential points to successfully choose your trustee.jpg

Since May 16, 1975, when the law was revised, a trustee is required to coordinate the representation and management of a co-ownership. A mandate is used for this purpose, and it specifies the parameters of his appointment and his responsibilities. Regardless of the size of the building collection, its selection must be the subject of a competition and a thorough examination of the most important factors. In particular, the competitiveness of its price, the high quality of its skills and the closeness of its relationships.

## What are the three points to consider when selecting a trustee?

### 1st point: Anticipated interest rate

Be careful with fixed rates, as they will probably not cover what the current management provides. Here, vigilance is required to record both the amount of exceptional services and the costs of the current management (such as the costs of organizing meetings of the trade-union council, accounting costs, etc). (recovery of unpaid bills, convocation of an extraordinary general assembly...). It is important to keep in mind that a syndicate of co-ownership must meet the needs of two different kinds of clients: the landlord, who is always looking to reduce his expenses, and the owner-occupier, who is concerned about maintaining a certain standard of living.

### Second point: Capacity and influence of the syndicate

Condominium management is a specialized field that requires a good knowledge of local customs and customized software. It also requires a lot of work. The trustee sought must have the capacity and the personnel to meet these requirements. In practice, he must be able to reduce costs by contacting reliable service providers and by negotiating each intervention, whether it is routine maintenance or major renovations. More generally, he is responsible for ensuring the continuous training of his staff according to the latest standards and procedures of the condominium.

### Third point: his relational qualities

A reliable trustee will know how to gain the respect of the other investors. If he wants to maintain this privileged link with his clients over time, he will have to show you certain things such as his frankness in his work and his ability to keep them informed of the administrative, financial and technical particularities of the building. A professional is one who responds quickly to calls and e-mails.

## The responsibilities of a trustee of co-ownership

The trustee (who now acts as an agent) is legally bound to the syndicate of co-ownership by the mandate contract (the principal). Due to the nature of the work, it must be performed by the trustee himself and cannot be delegated. The mandate of the trustee begins immediately after his election by a majority vote (50% plus 1) at a general meeting, unless the parties agree on another date. Thereafter, the term of office cannot exceed three years without a new vote at a general meeting; however, the number of renewals of the trustee's term of office is not limited, provided that the co-ownership by-laws so permit.

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