Association of Condominos of Costa Rica (ACCR) recently held a seminar focused on the accountability of condominium administrations. The event underscored our core belief: Our home, our rules, our voice—the condominium belongs to those who live in it, not those who manage it.
It addressed the governance challenges in condominiums’ administration, emphasizing the critical need for transparency, accountability, and proper financial management in the sector.
The seminar tackled a critical issue: governance problems stem from a lack of transparency in administration, management, and the accounting of common expenses. Attendees learned that under Costa Rican law, specifically Article 26 of the Condominium Law, an administrator’s report is not the same as a full rendering of accounts. True accountability (rendición de cuentas) is a legal obligation and an essential tool for evaluating management, preventing misuse of funds, and ensuring the financial health of our communities. It’s so important that it’s even written into the law. Accountability is the official way to prove that owners’ assets are being managed properly. From a condo owner’s perspective, the whole point of this requirement is to ensure transparency in how the condominium is run, which also gives owners the right to know exactly what’s going on with the administration.
This way, condo owners can have a clear overview of the activities that have been carried out, the money that has been spent and the results, including the financial results—in other words, condominium owners will have knowledge of the financial evolution of the condominium. This obligation requires that the information used for such accountability be sufficient for its purpose and accurate; otherwise, condo owners would not be in a sufficient position to discern what is right or wrong.
Administrators have the obligation to present the accounts at the annual Assembly convened for this purpose, and for the effective exercise of this obligation—that is, to fulfill its purpose of informing the interested parties so they are in a position to examine it, verify it for approval, or, if necessary, challenge it—it is necessary that this information meet the following requirements:
However, the most critical point is that this annual requirement should not replace or exempt administrators from their ongoing obligation to provide information to condominium owners throughout the year—not only during assemblies or once annually, as some administrators who lack transparency might interpret it. The administration must always be transparent, clear, and responsible. Condominium owners should have unrestricted access to essential documents and never encounter barriers when requesting information of common interest, such as documents, reports, evidences of the performed work, financial records, statements, or meeting minutes. This ensures that condo owners can examine and scrutinize the administration’s performance, preventing financial mismanagement, inefficiencies, misappropriation of funds, and fraud.
With this event, the Association reaffirms its commitment to promoting justice, efficiency, and transparency in condominium management, empowering owners to take control of their communities. Because at ACCR, we firmly believe: The Condominium Belongs to Those Who Live In It.
