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Legal reference

Reserve and repair fund rules in Chile

Short answer

The administration of every condominium must consider forming a common reserve fund (fondo común de reserva) for extraordinary, urgent or unforeseen common expenses. It is built with a surcharge on common expenses set by the community's reglamento or by an extraordinary assembly, which cannot be lower than 5 per cent of the monthly common expense, with the fines and interest owners pay, and with contributions for exclusive use of common property.

What the law says

Original wording of the law (Spanish). The summary and the notes around it are ours.

En la administración de todo condominio deberá considerarse la formación de un fondo común de reserva para solventar gastos comunes extraordinarios, urgentes o imprevistos.
Provision: Ley 21.442, art. 39 · Official text

Last verified:

Also relevant

porcentajes que no podrán ser inferiores a un 5% del gasto común mensual
Provision: Ley 21.442, art. 39 · Official text

What this means in practice

The 5 per cent is a floor on the surcharge, not on the fund. The yearly budget the administrator prepares must also report the amount available in the fund.

General information, not legal advice. Check with a lawyer in Chile before relying on it, and read your building's own documents: they can change how a rule applies.

Where Unitify fits

Unitify keeps a balance per unit and records each contribution against the right unit. The size of the fund and what it may be spent on come from the law above and from the owners' decisions.

How this works in Unitify

Questions and answers

What does the law say about the reserve or repair fund in Chile?
The administration of every condominium must consider forming a common reserve fund (fondo común de reserva) for extraordinary, urgent or unforeseen common expenses. It is built with a surcharge on common expenses set by the community's reglamento or by an extraordinary assembly, which cannot be lower than 5 per cent of the monthly common expense, with the fines and interest owners pay, and with contributions for exclusive use of common property.
Where does this come from, and when was it checked?
The quotation is from Ley 21.442, art. 39, at the official source linked on this page. It was last checked against that source on October 12, 2026.
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