In the heart of Anderlecht, a concierge named David José juggles triple responsibilities: caretaker, co-owner, and co-ownership council member in a sprawling residential building. But for all his insight into the building’s operations, even he didn’t see the scam coming.
“We were victims of theft in our co-ownership,” he recalls. “Our former professional syndic disappeared with €400,000.”
“The system gave birth to a monster,” says David to The Brussels Times, pointing to legal changes that centralised more power in the hands of syndics after earlier frauds.
Ironically, instead of solving the problem, these reforms often left co-owners even more powerless.
Syndics — property managers charged with the common areas and administration of co-owned buildings — have wide-ranging authority. They oversee finances, manage maintenance, and act as legal representatives of the co-ownership.
In theory, their actions are governed by decisions made during annual general assemblies, where owners vote on budgets and works.
“It is important to remember that syndics do not decide what happens in the building. Every decision is voted during the general assembly,” Thibaud Lodewyckx tells The Brussels Times, a legal expert at the IPI, the Institute of Professional Real Estate Agents. But in practice? “ The rest of the year, co-owners are left in the dark,” David explains.
Missing funds, forged statements
In David’s building, red flags began to appear when energy suppliers started contacting individual owners directly. The syndic hadn’t paid the bills. By the time they investigated, it was too late. “He had forged bank statements and disappeared,” David says.
With full access to the building’s bank accounts, syndics typically pay themselves directly for their services. But as Thibaud Lodewyckx explains, they are not free to set their own fees at will.
“A syndic’s base compensation must be clearly defined in the management contract. Additional charges — such as calling an extraordinary general assembly — can only be billed if explicitly provided for in that contract.”
But some syndics are not respecting those rules. “We had no access to the accounts. He managed the money and paid himself with no oversight,” David says. The result: €400,000 gone — one of several buildings the same syndic defrauded for millions.
Thibaud Lodewyckx confirms that while syndics must act in line with decisions voted on by co-owners, they are also empowered to act independently in emergencies. They manage both the working capital (for day-to-day expenses) and the reserve fund (for major renovations), giving them significant financial control.
“If a syndic abuses this power,” Lodewyckx explains, “they can be disciplined by the IPI — suspended, warned, or even permanently disqualified. But criminal prosecution and financial recovery require separate legal action.”
In David’s case, a complaint to the IPI led to disciplinary action. The syndic was eventually convicted in court. But because he was insolvent, only €350,000 was recovered — partly thanks to insurance. The rest had to be covered by a loan shared among the co-owners.
Legal framework
According to the Civil Code (Book 3, Article 3.89), syndics must be transparent, accountable, and provide access to all financial documents. In theory, co-owners have the right to inspect these records.
In reality, says David, “You have to book an appointment to access the documents, and they charge you for that — just to see your own building’s records.”
The IPI, which oversees professional syndics, can investigate complaints and perform audits — often based on co-owner reports. However, its role is strictly ethical: it cannot impose financial penalties or award compensation. Its authority also doesn’t extend to volunteer or internal syndics.
The need for reform
David argues that the law must change to give more power to co-ownership councils. “We should have real-time access to the accounts. Right now, we only see a snapshot once a year — and even then, the financial reports are incomprehensible.”
He’s found duplicated invoices, work billed but never done, and syndics tied to exclusive networks of suppliers. “There’s no competition anymore. Big syndics are merging and abusing their power.”
Switching to a new syndic is no simple task either. “You get 30 minutes once a year at the general assembly to vote. That’s not enough to make an informed decision,” David says.
A warning to all co-owners
David’s experience is a cautionary tale for anyone living in a co-owned building. “They act with impunity because the costs fall on us,” he warns.
But there are ways to fight back. As Thibaud Lodewyckx explains, the IPI (Institute of Professional Real Estate Agents) can provide real support to co-owners who feel exploited by their syndic.
“Complaints can be filed with the IPI, and a legal assessor will investigate — sometimes through on-site inspections or audits. If there is reason to suspect an ethical breach, the case is referred to the disciplinary chamber,“ he says.
The IPI can also launch surprise audits on its own initiative. Importantly, both complaints and investigations are entirely free of charge for co-owners.
