Maintenance reserve (WEG) – Every condominium owner can demand that a maintenance reserve be accumulated, which is, however, not obligatory. This reserve is accumulated to prevent liquidity problems and the deterioration of a property. The amount of the maintenance reserve depends on what a forward-looking owner would save for the maintenance of his property. This amount is paid in installments with the monthly housing allowance.
Maintenance reserve (WEG) at a glance: Earmarked reserve
Reserve to be used only for the maintenance of a property
Can require apartment owners, but is not mandatory
To prevent liquidity problems and the deterioration of a property
Paid in instalments with the monthly housing allowance
The amount of the reserve depends on what an owner would save for the maintenance of his property himself.
