Circumstances of the Decision Making, and Social Policy and Psychological Factors of Condominiums due to Ownership Initiatives

Abstract

Condominiums are the most common housing solutions in Hungary. Condominiums, as operational forms, allow the preservation of the proper technical condition of buildings. This operational form enables community decision in which we can also discover psychological and social psychological factors. Due to the high number of condominium communities, factors affecting community decisions, and the significance of those also affecting urban rehabilitation have to be examined. Condominium decisions involve information asymmetry, where owners are vulnerable to the elected representative of the condominium, and therefore the owners’ ability to enforce their interests must be examined. The owners’ informal and formal relations have a significant influence on the capacity to assert their own interests; psychological and social psychological factors can be highlighted from these relations, which can also change the individual’s preferences. Besides the significant involvement, the justification for the topic is also supported by the interests of the owners.