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Condo Management Contract

Condo Management Contract Template for Germany

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Key Requirements PROMPT example:

Condo Management Contract

"I need a Condo Management Contract for a newly built luxury residential complex in Munich with 50 units, including special provisions for spa facility management and 24/7 concierge services, planned to commence from March 1, 2025."

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Document background
The Condo Management Contract is a crucial document in German residential property management, used when a homeowners' association (WEG) appoints a professional property manager. This contract type is specifically regulated under German law, particularly the Wohnungseigentumsgesetz (WEG) and related legislation. It is essential when transitioning property management responsibilities, establishing new management relationships, or renewing existing arrangements. The document encompasses comprehensive details about property management services, including financial administration, maintenance coordination, compliance with legal requirements, and community management. The contract must align with recent German legislative updates, including the 2020 WEMoG reforms, and incorporate specific provisions for GDPR compliance and professional liability.
Suggested Sections

1. Parties: Identification of the contracting parties: the homeowners' association (WEG) and the property management company

2. Background: Context of the agreement, including property details and basis for appointment

3. Definitions: Key terms used throughout the agreement, including legal German terms

4. Appointment and Term: Formal appointment of the manager, duration of contract, and renewal terms

5. Manager's Duties and Responsibilities: Comprehensive list of regular management duties as per WEG requirements

6. Financial Management: Handling of operating costs, maintenance reserve, accounting, and banking

7. Insurance and Risk Management: Manager's obligations regarding insurance policies and risk assessment

8. Maintenance and Repairs: Procedures for regular maintenance and handling repairs

9. Meetings and Reporting: Requirements for owners' meetings, documentation, and regular reporting

10. Remuneration: Management fees, payment terms, and additional service charges

11. Liability and Insurance: Manager's professional liability and required insurance coverage

12. Data Protection: GDPR compliance and data handling procedures

13. Termination: Conditions and procedures for contract termination

14. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction

Optional Sections

1. Special Projects Management: For properties requiring significant renovation or development projects

2. Emergency Services: For properties requiring 24/7 emergency response services

3. Staff Management: For properties with on-site staff (e.g., caretaker, cleaning staff)

4. Commercial Unit Management: For mixed-use properties with commercial units

5. Parking Management: For properties with parking facilities requiring special management

6. Green Space Management: For properties with significant gardens or outdoor areas

7. Digital Services: For properties implementing digital communication platforms or smart building technologies

Suggested Schedules

1. Property Details: Detailed description of the property, including address, units, and common areas

2. Service Specification: Detailed breakdown of all included management services and their frequency

3. Fee Schedule: Detailed breakdown of all fees, including basic and additional services

4. Emergency Procedures: Emergency contact information and procedures

5. Maintenance Schedule: Annual maintenance planning and regular inspection schedule

6. Banking Details: Specific account information for property management

7. Data Processing Agreement: Detailed GDPR-compliant data processing terms

8. Property Manager Qualifications: Certificates and qualifications of the management company and key personnel

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement (Vertrag)
Property (Liegenschaft)
Common Property (Gemeinschaftseigentum)
Condominium Association (Wohnungseigentümergemeinschaft/WEG)
Property Manager (Hausverwalter/WEG-Verwalter)
Management Services (Verwaltungsleistungen)
Unit Owner (Wohnungseigentümer)
Special Unit Rights (Sondernutzungsrechte)
Operating Costs (Betriebskosten)
Maintenance Reserve (Instandhaltungsrücklage)
Annual Statement of Accounts (Jahresabrechnung)
Economic Plan (Wirtschaftsplan)
Owners' Assembly (Eigentümerversammlung)
Resolution (Beschluss)
Management Advisory Board (Verwaltungsbeirat)
Maintenance (Instandhaltung)
Repairs (Reparaturen)
Common Expenses (Gemeinschaftskosten)
Property Rules (Hausordnung)
Service Charge (Hausgeld)
Building Insurance (Gebäudeversicherung)
Fiscal Year (Wirtschaftsjahr)
Emergency Repairs (Notreparaturen)
Special Assessment (Sonderumlage)
Meeting Minutes (Versammlungsprotokoll)
Management File (Verwaltungsakte)
Caretaker (Hausmeister)
Additional Services (Zusatzleistungen)
Basic Management Fee (Grundvergütung)
Personal Data (Personenbezogene Daten)
Force Majeure (Höhere Gewalt)
Termination Notice (Kündigung)
Confidential Information (Vertrauliche Informationen)
Applicable Law (Anwendbares Recht)
Professional Liability Insurance (Berufshaftpflichtversicherung)
Clauses
Appointment
Term and Renewal
Scope of Services
Authority and Powers
Financial Management
Maintenance and Repairs
Insurance
Meetings and Documentation
Reporting Obligations
Fee Structure
Payment Terms
Duties and Responsibilities
Standard of Care
Emergency Services
Record Keeping
Data Protection
Confidentiality
Property Access
Service Level Requirements
Communication Requirements
Banking Arrangements
Account Management
Budget Planning
Cost Allocation
Maintenance Planning
Staff Management
Liability
Professional Insurance
Force Majeure
Termination
Post-Termination Obligations
Handover Requirements
Dispute Resolution
Governing Law
Severability
Assignment
Amendments
Notices
Entire Agreement
Warranty
Compliance
Anti-Corruption
Money Laundering Prevention
Third-Party Rights
Indemnification
Relevant Industries

Real Estate

Property Management

Facility Management

Professional Services

Residential Property

Building Management

Property Services

Relevant Teams

Legal

Operations

Property Management

Facility Management

Contract Administration

Compliance

Real Estate

Asset Management

Client Services

Risk Management

Relevant Roles

Property Manager

Facility Manager

Real Estate Manager

Building Administrator

Legal Counsel

Compliance Officer

Operations Director

Contract Manager

Property Services Coordinator

Asset Manager

Real Estate Administrator

Community Manager

Industries
Wohnungseigentumsgesetz (WEG): German Condominium Act - The primary legislation governing condominium ownership, management, and administration. It defines the rights and obligations of property managers and condo owners.
Bürgerliches Gesetzbuch (BGB): German Civil Code - Particularly sections §§ 535-580a regarding property management, and §§ 611-630 concerning service contracts, as the management contract is primarily a service agreement.
Gewerbeordnung (GewO): German Trade Regulation Act - Particularly § 34c, which sets requirements for property managers including professional qualifications and reliability.
Geldwäschegesetz (GwG): German Money Laundering Act - Relevant for property managers who handle financial transactions and need to comply with anti-money laundering regulations.
Datenschutz-Grundverordnung (DSGVO): General Data Protection Regulation (GDPR) - Crucial for handling personal data of property owners and residents.
Wohnungseigentumsmodernisierungsgesetz (WEMoG): Condominium Modernization Act - 2020 reform law that modernized the WEG and introduced new regulations for property management.
Heizkostenverordnung (HeizkV): Heating Costs Ordinance - Regulates the allocation and billing of heating and hot water costs in multi-unit buildings.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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