​The role of the WEG advisory board: Your responsibilities at a glance

​As a member of the WEG advisory board, you are the link between owners and property management. Your main tasks include monitoring the management and representing the interests of the owners. Find out more about your rights and duties in our detailed blog post.

​Tasks of the WEG advisory board

​As a member of the WEG advisory board, you play a central role in the management of your community. Here are the six most important tasks that define your responsibilities.

​Audit of the annual financial statements

​They check the annual statement prepared by the property management company and ensure that all income and expenses have been recorded correctly.

​Advice for owners

​As a member of the advisory board, you advise the owners on important decisions, e.g. on maintenance measures or structural alterations.

​Monitoring of property management

​Their task is to monitor the work of the property management company and ensure that it fulfils the requirements of the owners.

​Communication

​They mediate between the property management company and the owners to clarify misunderstandings and ensure smooth processes.

​Preparation of the owners' meeting

​You support the organisation and preparation of the owners' meeting by collecting important topics and proposals.

​Financial control

​They keep a watchful eye on the condominium's financial planning and check offers and costs for maintenance measures.

​Rights and duties of the advisory board

​As a member of the advisory board, you have the following rights and obligations:Right to inspect documents:

You have the right to inspect all property management documents in order to check the condominium's finances.Duty to provide information:

You are obliged to report regularly to the owners' meeting.

No liability: As an advisory board member, you are not normally personally liable, except in cases of gross negligence or intent.’ - A good administration should also have so-called D&O external insurance for you as an advisory board member.

​Effective cooperation between the WEG advisory board and property management

​Close and transparent cooperation between the WEG advisory board and the property management company is crucial for the smooth running of the administration. Here are six key aspects that promote successful cooperation:

​Regular exchange

​Even if the property manager has little time, short, efficient meetings are important. Use digital tools or conference calls to discuss topics such as maintenance, financial planning and current concerns quickly and effectively

​Transparent communication

​Make sure that the property management company always provides transparent information about planned measures, upcoming projects and costs.

​Build trust

​Trust is the cornerstone of any successful collaboration. Work openly and in partnership with the property management company to achieve good results in the long term.

​Give feedback

​Provide regular feedback to the property management company so that it can continuously adapt its work to the needs of the community of owners.

​Clear responsibilities

​Clearly define which tasks and responsibilities lie with the property management company and which are the responsibility of the advisory board in order to avoid misunderstandings.

​Address problems at an early stage

​Do not hesitate to address problems or disagreements promptly in order to resolve potential conflicts at an early stage and avoid jeopardising the administrative process.

​Fee for advisory board members

​The community can decide whether the advisory board members receive compensation for the services they provide. The regular remuneration is around €150 per member per year.

​Who can become an advisor?

​As a co-owner in a condominium, you can be nominated for election to the advisory board at the owners' meeting and be elected.

​‘We value working with advisory boards and are committed to taking your concerns seriously. Together, we develop solutions that promote the well-being of your community. Let's work together and create a harmonious quality of living!’

Annett Lautenschläger

​Management

​Our team

​Your concerns are important to us, and our team is there to support you.

Jessica Keller

​Clerk

Kristina Jadykin

​Clerk

Anna-Lena Helff

​Clerk

Susanne Schreieck

​Clerk

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