What Are The Tasks Of A Property Manager?
In principle, the management of the common property is also jointly entitled to the owners; they can freely decide on the administrator’s appointment. Management is therefore not mandatory. It is essential to know that the administrator is usually only responsible for the common property and not for the individual WEG members’ individual property – unless there are other agreements via a management contract.
Drawing up house rules: House rules are essential to avoid disputes among the house’s residents from the outset. For example, it regulates when there is a midday or night rest or who cleans the stairwell. The administration must ensure that all parties observe the house rules.
Convening the homeowners’ meeting: At least once a year, the administrator must prepare and convene the homeowners ‘ meeting and comply with certain formalities such as the three-week notice period. At the meeting, the owners then advise on various topics, such as upcoming renovation work on the building, the annual business plan, or the house fee statement.
Drawing up a business plan: In the business plan, the administrator compares the income and expenditure for the coming fiscal year for the common property. The income consists of the apartment owners’ housing allowance to cover running costs (operating costs, maintenance costs, and administration costs).
Maintenance and repair of the common property: The administrator is responsible for maintaining the property in its original condition through care and preventive measures and remedying defects.
Accumulation of an adequate maintenance reserve: The administrator builds up a maintenance reserve to be prepared for future defects or damage. The manager sets out each owner’s contribution to this reserve in the business plan.
Receipt of declarations of intent and notifications: The administrator is entitled to accept declarations of intent and notifications on behalf of the owner- be it for or against the WEG. The declarations of intent can be reminders or official notifications, while the service can be a judicial service in a legal dispute. However, the manager must immediately inform the owners concerned about the receipt.
Asserting claims in and out of court: If the owner has authorized the manager to do so, he can take action if, for example, a co-owner does not pay his house fee or a special contribution.
An owner uses a special property manager such as Keyrenter Houston Property Management Company if he does not live in his condominium but rents it out and does not want to take care of the letting himself. In this case, it makes sense to commission the already active condominium manager with the care of the separate property to avoid a possible confusion of responsibilities.
The duties of a special property manager may include, for example:
- Collection and monitoring of rental payments
- Contact person for tenants with questions or defects
- Preparation of the annual utility bill for the tenant
- Assignment of craftsmen for necessary repairs
- Representation in legal matters
A rental manager is used when there is a single owner for an apartment building, and he rents out the apartments. What exactly belongs to the range of services of a rental manager is freely negotiable and is contractually defined.
His tasks can be:
- Responsibility for letting the residential units
- Rental income management
- Preparation of the utility bill
- Organization of a caretaker
- Commissioning craftsmen for repairs
- Representation in legal matters