
Questions and answers
Answers on costs, changing property manager, the owners’ meeting, statements, contracts and responsibilities.
Topics: Costs and quote · Change of property manager · Owners’ meeting · Statements · Contract and term · Responsibilities · Reserve and maintenance
Costs and quote
What does property management cost?
The fee is usually agreed per unit and month. It depends on the size of the property, the technical equipment, the condition of the records and the scope of services. That is why we only quote fixed prices in a written quote after the free initial consultation.
What is included in the basic fee?
That is set out in the quote. It is common to have a basic fee for regular tasks and a separate fee for special services, such as additional meetings or support for major refurbishments. We disclose both.
How do I get a quote?
Call us or use the contact form. After the initial consultation and, where appropriate, a viewing, you receive a written quote.
Change of property manager
How do we change property manager?
At the meeting, the owners resolve on dismissing the current manager and appointing the new one. Since 2020, dismissal has been possible at any time. We help with the preparation and then take over the records.
What happens to the old management contract?
It ends no later than six months after the dismissal (section 26 (3) WEG), unless it expires earlier.
Which records does the old manager have to hand over?
All of the association’s records, for example the register of resolutions, minutes, contracts, statements of account, bank statements, plans and keys. Our checklist helps you keep track.
Owners’ meeting
How often does an owners’ meeting take place?
At least once a year (section 24 (1) WEG). Additional meetings are possible if necessary or if more than a quarter of the owners request one.
How much notice is given?
The invitation must be received in text form at least three weeks in advance (section 24 (4) WEG), except in cases of particular urgency.
Can I attend online?
Yes, if the association has resolved to allow it (section 23 (1) sentence 2 WEG). We advise you on the options.
When does the meeting have a quorum?
Since the 2020 reform of the Condominium Act, every properly convened meeting has a quorum, regardless of the number of owners present.
Statements
What is the difference between the annual statement and the service charge statement?
The owners’ association’s annual statement allocates the association’s costs to the owners (section 28 WEG). The service charge statement is addressed to tenants and only contains costs that can be passed on under the Operating Costs Ordinance and the tenancy agreement.
By when must the service charge statement reach the tenant?
No later than twelve months after the end of the billing period (section 556 (3) BGB).
What is the asset report?
After the end of each calendar year, the manager must prepare an asset report (Vermögensbericht) showing the status of the maintenance reserve and the association’s main assets (section 28 (4) WEG).
Can I inspect the receipts?
Yes. Every flat owner can demand to inspect the management records (section 18 (4) WEG). We are happy to arrange an appointment for this.
Contract and term
How long does a management contract run?
For an owners’ association, a maximum of five years; for the first appointment after the association is founded, a maximum of three years. For rental management and management of individual units, we agree the term and notice periods individually.
Do you need to be certified?
Since 1 December 2023, flat owners in associations with nine or more units can demand the appointment of a certified manager (section 26a WEG). Talk to us about the requirements.
Responsibilities
Who is responsible for repairs in my flat?
The owner is responsible for the individual unit (Sondereigentum), for example floor coverings or interior doors. The association is responsible for the common property, such as the roof, façade or pipes up to the branch-off point. Exactly what belongs to which is set out in the declaration of division (Teilungserklärung).
Whom do I call in an emergency outside office hours?
How emergencies such as a burst water pipe outside office hours are handled is set out when we take over the property, and we post the information in the building.
Is Corpus Hausverwaltung licensed?
Yes. Corpus Callosum Dienstleistungsgesellschaft mbH holds a licence under section 34c of the German Trade Regulation Act (Gewerbeordnung). You will find the details in our legal notice (Impressum).
Reserve and maintenance
How high should the maintenance reserve be?
The law requires an appropriate reserve (§ 19 Abs. 2 Nr. 4 WEG) but does not specify a fixed figure. It should match the age, condition and features of the building. More in our guide.
Do I get my share of the reserve back when I sell?
No. The reserve belongs to the community. Economically, your share passes to the buyer together with the flat.
Which service charges can I pass on to tenants?
Only operating costs under § 2 BetrKV that are agreed in the tenancy agreement. Administration and maintenance costs are not included. More in our guide.
Can’t find your question? Call us on +49 231 58 69 26 00 (Mon–Fri, 8:30 am – 5:30 pm) or write to us using the contact form.
Looking for a new property manager?
In a free initial consultation we look at your property and your questions. You then receive a written quote that you can present to your owners’ association.