That applies to managing real estate owned by third parties as well as housing and business space you own yourself. One factor is always present: the rental contract, which is the cornerstone of profitable real estate. But beyond that there is little that cannot change, and clients are well advised to consider recent developments in case law before signing any new contract.
Case in point: a number of contract clauses regulating tenants’ responsibility for cosmetic repairs have been declared invalid by the German Federal Supreme Court. This is one of the many changes that have led to considerable financial loss for property owners. Formally correct and prudently worded contracts are just as important for the owners of business property and are essential to ensuring the profit you expect and preventing loss of rent.
Avoiding financial loss is the first step; increasing profitability, e.g. by modernising your property, is the next. As enterprising attorneys, we can help you with this as well by reconciling your wishes with the current legal practice to ensure optimal profitability for your property.
The same goes for the professional management of condominium property: our clients are well advised to consider current legal code and case law before acting. This is even more important following recent reforms that have defined co-ownership cases as civil disputes, which means that whoever loses must now bear all legal and court costs; whoever wins pays nothing.