WEG reform: what property managers and consumers should consider – economy


Apartment owners’ associations (WEG) will in future have the right to appoint a “certified administrator”. The term was introduced in the course of Reform of the Condominium Act (Housing Modernization Act, WEMoG), which came into force on December 1, 2020. With this new regulation, the legislature wants to at least partially resolve a major grievance: administrators are responsible for more than ten million condominiums in Germany, but have so far not had to provide any proof of qualification. That should change now. Certification is linked to certain rights and obligations that owners and managers should be aware of. It is worth taking a look at the details.

.



Source link