About Húsbrú
From numbers to decisions.
Húsbrú provides homeowners' association services for multi-owner buildings. We keep the association's books. Then we tell you what the numbers mean — what needs doing, when, and whether you can afford it.
An association's board handles other people's money. It rarely gets the tools to decide what to do next. That is the job we take on.
Below is what that involves: the books, the budget and monthly fees, cost allocation, the annual general meeting, and what the board and owners see in Yfirsýn.
What we promise
You know what needs doing next
A ten-year maintenance plan with its funding worked out. It is kept up to date, year after year.
The monthly fees have a calculation behind them
Every króna of the monthly fee traces back to an item in the plan. The annual general meeting votes on arithmetic, not on a feeling.
The right cost for the right owner
Costs allocated according to the ownership declaration, under Articles 43–45 of the Multi-Owner Housing Act No. 26/1994.
The association's books
The books are kept in real time. Every bank transaction is posted as it happens, and the balance is reconciled with the bank every day. You do not have to wait for the end of the month or the annual accounts to know where the association stands.
Speed is not the main point, though. The same entries sit under every number you see — the operating fund balance, running costs against the budget and each owner's share. That is why the numbers never contradict each other.
- Double-entry bookkeeping Every entry is posted as a debit and a credit, and the system refuses an entry that does not balance.
- Fetched from the bank daily Bank transactions are fetched every day. The connection can only read; it cannot make payments.
- Every transaction in its place Transactions are categorised to accounts. Once a category is confirmed, it applies to similar transactions from then on.
- Nothing is deleted A posted entry stands. A correction is a new entry that reverses the old one, so the history is always visible.
- Checks The system checks that debits and credits balance, that every bank transaction is posted and that the balance matches the bank.
- Income statement and balance sheet The income statement, balance sheet and trial balance are always up to date. The year can be downloaded to Excel, with the budget alongside.
Operating budget and monthly fees
The monthly fees are calculated from the budget. Each cost item is split across the flats by its own rule, and the result is each flat's monthly fee.
The budget also shows what goes into the reserve fund, so the contribution is decided together with the running costs.
- Put to the AGM Each flat's fee goes into the proposal and the meeting notice. Every owner sees what the proposal means for their flat.
- The decision stands Once the AGM approves, the amounts are fixed. A later change to a split rule does not change what the meeting decided.
- A claim for every flat After approval, a payment claim is issued to each flat every month.
- Payments matched to the flat Payments are matched to the flat that pays and settle the oldest unpaid claim first. Nobody has to chase transfers.
Cost allocation under the ownership declaration
Each cost item has its own split rule. The default rules follow Articles 43–45 of the Multi-Owner Housing Act No. 26/1994, and the board can change them.
The same rule applies in the budget and in the monthly fees. The shares always add up to the total, to the króna.
- Equally per flat For example cleaning, waste collection, electricity for common areas and management.
- By ownership share Other shared costs, by each flat's percentage in the ownership declaration.
- Shared by some flats Costs that concern only part of the building, such as one stairwell, are split among the flats that own that part.
The annual general meeting, from notice to minutes
When you choose The Meeting, we attend the annual general meeting, chair it and take the minutes. We bring the presentation and the figures.
In Yfirsýn, the meeting is tracked from the agenda to the follow-through.
- Called on time The system calculates the statutory notice period and warns you when it is too late to call the meeting.
- A notice for every flat Each flat gets its own letter, showing what the proposals cost that flat, with a proxy form.
- Votes counted correctly Votes are counted both by head and by ownership share.
- Minutes The draft minutes are built from what was approved. They are signed and published to the owners.
- Follow-through The meeting's decisions are recorded as tasks, so nothing is forgotten between meetings.
- Items from owners Owners can request an agenda item from their own Yfirsýn.
What the board and owners see in Yfirsýn
In Yfirsýn, the figures are presented for the people who use them. Everyone logs in with Icelandic electronic ID (rafræn skilríki). The screens are in Icelandic.
The board
- Running costs against the budget, item by item.
- Every transaction and the books behind it.
- Collection status: which claims are paid and which are not.
- Meetings, documents and the register of flats and owners.
Each owner
- “Í hvað fara húsgjöldin mín?” (what do my fees go towards?) — each item and the transactions behind it.
- Their own payments, and how each payment splits between running costs and the fund.
- Their share of the building's running costs and of the reserve fund.
- Meeting notices showing what the proposals mean for their flat, and the minutes.
- Documents the board shares with owners.
Each owner sees their own flat, not anyone else's, and nobody sees who is in arrears. A spouse or co-owner can be given read-only access.
Questions and answers
What happens when the treasurer steps down?
Nothing needs to be handed over. The books are with Húsbrú, not in one board member's folder or laptop. The new board gets access and sees the same figures and the full history.
Does Húsbrú have access to the association's money?
No. Húsbrú reads the association's bank accounts but cannot make payments from them. The board decides what is paid.
Who is responsible for decisions?
The board and the annual general meeting, as before. We provide the figures and the proposals; you decide.
Do all owners have to use Yfirsýn?
No. Each flat has one contact person who receives meeting notices and other notices, on paper too. Yfirsýn is for those who want to follow along.
What does the service cost?
That depends on the building and the service option. You get a quote for your building, with no obligation.
How do we get started?
Ask for a quote and tell us about the building. We reply within two working days and, if you like, present the quote to the board. Once agreed, we set the association up in Yfirsýn.
What we are not
Not a law firm
When a legal opinion is needed, it is bought in and labelled as such.
Not a caretaker service
No caretaker, no on-site staff and no key management.