The management of condominium properties
The management of condominium properties according to the Wohneigentumsgesetz [condominium Property Act] is a separate line of business to our property management. Since the beginning of the professional property management in 1980, we also managed in addition to rental and commercial properties. By now, approximately 50 % of our entire activity are allotted to this area. The reason for the incredible increase of this line of business is that the subject of Management is very important and sensitive - a task which we tackled from the beginning on and the solution of which still is a big challenge for us.
The management of condominium properties should be carried out by professionals as not only a solid commercial and technical support but also the compliance with the legally complicated Wohneigentumsgesetz as well as the corresponding jurisdiction are part of a good management. Another challenge is the psychological skill of the manager when working with a condominium property, which is constantly subject to tensions between the claims and wishes of individual homeowners and the more important interests of the association of the condominium owners.