Anyone who owns a condominium in an apartment building and rents it out will quickly realise that it takes more than just a tenant and a rental account. This is because even if the flat is part of a larger residential complex, there are numerous tasks that relate exclusively to the so-called special property - i.e. to the individual flat and not to the common property of the building. This is precisely where special property management (SEV) comes in.
What is special property?
In simple terms, separate ownership is the ownership of the individual flat within a homeowners' association (WEG). While the stairwell, the roof or the façade belong to the common property and are managed by the condominium management, the separate property relates exclusively to the interior of the flat, the cellar or underground car park - insofar as these are assigned.
The role of special property management (SEV)
Special property management takes over the management of the rented flat on behalf of the individual owner - independently of the WEG management. It therefore represents the owner vis-à-vis the tenant and takes care of all matters relating to the tenancy.
Typical tasks of an SEV:
- Rental agreement management Conclusion, review and amendment of rental agreements, implementation of rent increases within the legal framework.
- Tenant communication Contact for tenants with questions, concerns or problems - from dripping taps to utility bills.
- Rent collection & payment monitoring Monitoring of punctual rent payments, reminders in the event of payment arrears, initiation of legal action if necessary.
- Service charge settlement Preparation of the annual statement of operating costs on the basis of the condominium fee statement - individually for each tenant.
- Coordination of repairs & maintenance Commissioning of tradesmen for minor repairs in the condominium, supervision of execution, cost control.
- Handovers and acceptances Organisation and implementation of flat handovers when moving in or out, including recording the condition.
Are you satisfied with your current SEV?
Many owners ask themselves this question sooner or later. Especially when queries remain unanswered, statements arrive too late or tenants are dissatisfied, it is worth taking a look at possible alternatives. A professional SEV should save you time and nerves - and not have the opposite effect.
What is the difference between SEV and apartment building management?
While the management of individual properties concentrates on the management of individual flats within a homeowners' association, the management of apartment blocks generally concerns entire apartment blocks that are owned solely by one person or a company.
Special property management
- Management of individual flats within a WEG
- Owner is part of a homeowners' association
- Billing of ancillary costs to the tenant
- Close cooperation with the WEG management
Apartment block management
- Management of the entire apartment block
- Owner owns the entire building
- Complete management including all tenancies, maintenance, modernisation, rental development
- Independent responsibility for the entire property
Are you looking for professional apartment block management?
If you own an entire apartment block and want to place the management in trustworthy hands, you need more than just a traditional SEV. In this case, you need a specialised apartment building management company - with extensive experience, legal expertise and a strong network of service providers.Conclusion
Whether it's a separate property or an entire apartment block - competent management is crucial for value retention, returns and relaxed ownership.
If you are wondering:
- Are you satisfied with your current SEV?
- Are you looking for a new solution for your apartment block?
- Are you looking for reliable, transparent and proactive support for your property?
Then talk to us. We will be happy to show you what modern property management can look like today.
