Property management contract – condominium associations usually have a property manager who takes over the management of the common property. A management contract is drawn up for the transfer of this task. This management contract defines the rights and obligations of the manager vis-à-vis the condominium owners’ association. The administrator’s remuneration depends on the expense, size and range of tasks of the administrator. Who is appointed as the administrator of a condominium owners’ association is decided by a majority vote of the members of the association.
Administrator contract at a glance: Administrator of a condominium owners’ association
- Condominium owners’ associations usually have an administrator who takes over the management of the common property
- An administrator’s contract shall be drawn up for the delegation of this task
- The administrator’s contract specifies which pensions and obligations the administrator has towards the condominium owners’ association.
- The remuneration of the administrator shall be based, inter alia, on the expense, size and range of tasks involved
- A majority resolution of the condominium owners’ association decides who becomes the administrator
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