If the contract is for one year, renewal of the property management nomination is decided at the annual General Meeting of the co-owners. If a property manager was nominated in the condominium’s basic act, the mandate fully expires at the first General Meeting. However, the contract may be terminated at any moment by a vote at a General Meeting of the co-owners, and under the conditions laid down in the contract. A new property manager is then nominated at that same Meeting. The co-owners will have contacted various property managers and asked for quotations before the General Meeting in order to elect and nominate a new property manager.