Property management – tasks, costs & training

Responsibility & Tasks

Property management – The property management is responsible for the care of the condominium owners’ association and their meeting, caretaker activities and garden maintenance, winter and clearing services, commissioning and supervision of repairs or renovation work, preparation of accounts and business plans. The property management carries out the resolutions of the condominium owners, organizes their meetings and ensures that the house rules are observed. The service is offered specifically by service companies or individuals. Unless individually agreed, the property management is responsible for the technical management of a property. As a resident in an apartment building, you can have the guidelines of the property management sent to you as a PDF file, so that you always have them ready in case there are any uncertainties, for example, about costs for service and repairs. Also the exact tasks are specified in it. The property manager must carry out regular inspections in order to determine the need for maintenance as early as possible and to take measures as required.

Costs & in English

The cost of a property manager is usually 20 to 26 euros per unit or the price is determined with a percentage of 5 or 6 of the cold rent. There is no standard training for property managers. Most property managers have previously completed an apprenticeship as a real estate agent. It is important to have the necessary know-how about real estate, whether through an apprenticeship or a degree does not matter. In many cities it is also a great advantage if you can speak English. So you can communicate with tenants from abroad and know if someone asks you if you are responsible for the house management or the property management. There are also many helpful software solutions for accounting, for example, which are often only available in English.

Property management at a glance

  • Tasks: Overseeing the homeowners association and their meeting, property maintenance & enforcing house rules.
  • Education: mostly real estate agent or career changer with know-how
  • Price/cost 20 to 26€ per unit or 5-6% of the cold rent
  • Property management in English – “house management” or “property management

Every apartment building has a property management, either the owner or an external service provider. If you want to know in detail what a property management is allowed to do and what not, then take a look at the following article:

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