Choosing the right property manager

Approximately nine million condominiums in Germany are managed by an estimated 23,000 full-time property management companies.

However, many small owners' associations also choose their manager from among their own members.

But what skills does a property manager need? What qualifications do they require? To make the selection process easier for homeowners' associations, the German Association of Property Managers (DDIV) and the Association of Private Builders (VPB) have jointly published a useful checklist.

Does the property manager live close enough to the property to be able to manage it properly?

Does he manage real estate full-time or do he do it on the side?

Does he have corresponding framework agreements to reduce ancillary costs?

These and many other questions should be clarified in advance to avoid making the wrong choice when selecting a property manager.

Contract drafting, aspects of general commercial management, financial, asset and technical management – ​​all these points play an important role in property management and are addressed step by step in the checklist, which can be downloaded here free of charge.

VPB-Verwaltercheckliste_Hausverwaltung-ist-Vertrauenssache.pdf

Source: Association of Private Building Owners (VPB)