The subject of the article is the legal analysis of a special form of real estate management, which is performed by a housing cooperative, which is based on art. 27 section 2 u.s.m. The reason for undertaking this research topic was dispute on the scope of competences of the cooperative, which manage common part of condominium. Points 1 and 2 present an evolutionary outline of changes in the law on housing cooperatives and the accompanying changes in the views of doctrine and case law (points 3 and 4). However, in points 5 and 6, current the legal regulations, in force since the 2017, were interpreted and final conclusions made that indicated the need to distinguish three levels of property management. This postulate is grounded on a comparative analysis basis on property management law coming from Germany law, Austrian law and Swiss law.