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Who takes care of the property when I am not in Germany?

Any investment property can be given into the care of a property management company.
This is a very comon practice, even for investors living in the same city.
It is even mandatory when the property belongs to a partitioned apartment house.

Cost for property management is about 25,- to 35,- Euro per month for an apartment. Rental management is separate from general house management and can be transferred to an agency for a fee that is agreed upon by both parties.

We usually help our clients to find a property management and rental management company. We even stop by the properties frequently to check if things are ok.

About the author: Alexander Korte is a Berlin based residential property developer and active real estate investor and co-owner of a brokerage & advisory firm.