Portfolio management Operational cost accounting

Residential property &
Co-ownership management

Condominiums are often located in larger building units that are managed by an owners' association. Co-ownership administration covers the management of such properties. This is based on the relevant legal provisions in the German Condominium Act (Wohnungseigentumsgesetz).

The basis of our co-ownership management is a profitable commercial and technical management of your property. This can also include a requirements analysis, planning and implementation of renovation measures - for example, in the area of energy-related building renovation. In addition, there is a constant balancing of interests within the condominium owners' association, because the focus is on the sustainable management of your real estate.

Our services at a glance:

Conducting meetings of condominium owners
  • Preparation, convening, implementation and documentation of the ordinary or extraordinary condominium owners' meeting, including sending the minutes of the condominium owners' meeting to the owners as well as keeping the collection of resolutions
  • Implementation of resolutions and agreements of the condominium owners
Contract management
  • Consultation and review of the necessity and suitability of property-related contracts
  • Conclusion, cancellation, amendment, supplementation and termination of all contracts necessary and expedient for proper administration, including solicitation of bids
  • Supervision of the proper execution of the contracts
Technical management
  • Monitoring of the constructional condition of the common property
  • Consultation on the necessity of carrying out maintenance measures
  • Obtaining of cost estimates for maintenance measures and awarding of contracts after resolution of the condominium ownersr
  • Supervision and acceptance of work and auditing of accounts
General support services
  • Participation in management advisory board meetings (if requested) also outside the usual office hours
  • Conducting all correspondence in connection with the owners' association (WEG)
  • Procurement, inspection, creation or restoration of missing administration documents that are not available when the administration is taken over
Finance and asset management
  • Review and preparation of an accounting or annual statements also for periods in which a third party was the administrator
  • Monitoring of the payment obligations of the condominium owners, compliance with the economic plan as well as timely payment of all liabilities of the co-owner's association
  • proper management of maintenance deposits
  • Participation in the audit of accounts by the management advisory board
  • Reminder and enforcement of overdue condominium fees, special contributions, maintenance deposits and other claims of the co-owner's association
  • Accounting during the fiscal year outside the annual statement of accounts
  • Preparation of statements and provision of information required by a condominium owner for the service charge settlement with his tenant or third party
Representation of the co-owner's association
  • Execution of measures required to meet a deadline or to avoid any other legal disadvantage
  • Representation in connection with public law matters and legal proceedings
  • Arbitration of disagreements within the condominium owners' association and towards third parties

Contact person

Nicole Herschmann

Real estate specialist, real estate economist (wbs), authorized signatory