Co-ownerships: the scissors effect of the DPE and mandatory renovations

Indeed, according to the latest data from the ANAH (National Agency for the Protection of Energy and Natural Resources), they constitute nearly 30% of the French real estate stock, with more than 760.000 buildings totaling 10,3 million homes. But a real gap is emerging: 14% of these co-ownerships are still classified F or G in the DPE (Energy Performance Certificate), while more than 40% are classified D or E. Faced with an accelerating regulatory schedule, many are struggling to keep up.

The accelerating timetable: regulatory pressure becomes reality

The Climate and Resilience Act of August 2021 established a binding timetable, the first deadlines of which have already passed:

• Since January 2023, G+ rated housing (energy consumption greater than 450 kWh/m²/year) is prohibited from being rented.
• Since January 2025, this ban extends to all G-classified housing.
• In 2028, F-classified housing will also be affected, and in 2034, it will be the turn of E-classified housing.

At the same time, the 2018 ELAN law, reinforced by the Climate and Resilience law, has required all co-ownerships over 2023 years old to carry out a collective DPE and develop a 15-year Multi-Year Work Plan (PPT) since January 10. However, according to the FNAIM, around a quarter of the co-ownerships concerned have already fulfilled these obligations, although efforts have intensified since the first sanctions.

The reality on the ground: a persistent delay despite the urgency

Complex and slow governance

Co-ownership decisions are made at general meetings, often based on strict majorities. According to the Sustainable Building Plan, the average time between the initiation of a renovation project and its completion is approximately 3,8 years, despite attempts to simplify procedures. This timeframe is barely consistent with regulatory requirements.

A financial situation under strain

Some sector studies show that a significant proportion of co-ownerships have a default rate of over 15%, compromising their ability to finance major renovations. The works fund, although strengthened, remains insufficient to cover the average cost of renovations, estimated at nearly €20.000 per dwelling.

Insufficient technical data

Studies by the CSTB (Scientific and Technical Center for Building) show that many property managers still lack reliable data on the buildings they manage, despite the requirement for a digital housing logbook. This shortcoming seriously complicates the planning of energy renovation work.

The specific challenges of trustees: between responsibility and feasibility

Condominium managers find themselves in a particularly delicate position. On the one hand, they are professionally liable for compliance with legal obligations, with an increased risk of liability. On the other hand, they must face significant operational constraints:

• The difficulty in obtaining majorities for expensive work: Qualitel-IPSOS barometers show that the majority of co-owners still consider that the cost of work is the main obstacle to energy renovation, despite the increase in aid.
• The technical complexity of the interventions: according to analyses by ANIL (National Agency for Housing Information), less than half of the trustees believe they have sufficient internal technical skills to manage comprehensive renovation projects.
• Persistent congestion in professional sectors: the French Building Federation still reports significant waiting times for energy renovation work, even though there has been a gradual improvement.

A cross-analysis to better understand

An analysis of the blockages, cross-referencing technical and legal data from more than 8.500 co-ownerships, highlights notable trends:

The age-structure-governance correlation

The analysis shows that co-ownerships built before 1975 (more than half of the stock according to INSEE) face specific obstacles: fragmented decision-making structures, outdated co-ownership regulations, and technical documentation based on parcels. These buildings, which are also the most energy-intensive, are paradoxically the least well-equipped administratively to undertake renovations.

The "landlord paradox" exacerbated

Data from the Ministry of Ecological Transition shows that a growing proportion of co-owned housing is owned by landlords. These landlords are directly affected by rental bans but do not benefit from the energy savings generated by the renovations. This disconnect between investor and user creates a structural barrier documented in economic literature as the "landlord-tenant dilemma," exacerbated by the effective entry into force of the first rental bans in January 2025.

The persistent lack of budgetary anticipation

According to the Observatory of Co-ownership Charges, an analysis of co-ownership accounts reveals that a minority of co-ownerships have a savings plan designed to meet future renovation obligations. This lack of financial anticipation continues to be a major obstacle to the implementation of PPTs.

Concrete solutions for trustees

Digitize the technical management of buildings

The deployment of digital technical monitoring tools allows for better knowledge of assets and facilitates decision-making. Studies by Xerfi confirm that property managers equipped with digital technical management solutions have a significantly higher rate of energy work implementation than the national average, a gap that is widening.

Renovate in stages

Phased renovation, or "BBC by phases," validated by ADEME and now governed by recent technical standards, allows for investments to be staggered while ensuring overall technical consistency. This approach significantly increases homeowner acceptance, according to expert opinion surveys.

Using data to anticipate

Predictive analysis based on historical consumption and the condition of the building makes it possible to identify priority actions and optimize the return on investment of the work. Studies by the Paris Region Institute show that co-ownerships that have benefited from an energy audit combined with a financial simulation undertake work in a much greater proportion than those that do not.

Mobilize appropriate financial mechanisms

The intelligent combination of available aid (MaPrimeRénov' Copropriétés, CEE, collective eco-PTZ, regional funds) can significantly reduce the remaining cost. The ANAH indicates that co-ownerships supported by a specialized operator obtain on average more than 50% of financing for their energy renovation work, a rate that has been steadily increasing since 2023.

Redesigned energy governance for co-ownerships

The scissor effect between now-effective regulatory obligations and the still-insufficient operational capacity of co-ownerships calls for a profound and urgent transformation of the energy governance of this real estate portfolio. Property managers, at the heart of this challenge, must evolve from the role of administrator to that of strategic advisor on energy transition.

This evolution requires appropriate tools that enable detailed management of technical and financial data, rigorous planning of interventions, and transparent communication with co-owners. It is precisely to meet these needs that integrated solutions exist that allow property managers to effectively support co-ownerships in this mandatory but complex transition.

Co-ownerships that anticipate and adapt to these new requirements will transform this regulatory constraint into an opportunity for asset enhancement. Conversely, inaction is already leading to an accelerated devaluation of the properties concerned, creating a new form of energy and asset insecurity that we have been observing concretely since the ban on renting out G-rated housing came into force at the start of 2025.

Tribune by Charles-Antoine Perichon, ADB Market Director at Orisha Real Estate (LinkedIn).