WEG management

What is meant by WEG management?

The term "WEG Management" refers to the management of homeowners' associations (WEG) under the German Condominium Act. WEG managers are responsible for the proper management of communal property. This includes financial, technical, and legal management, as well as the coordination of maintenance and repair activities for jointly used buildings and areas.

Typical software functions in the area of "WEG Management":

1. Accounting and Financial Management: Management of maintenance fund accounts, creation of financial plans, utility billing, and management of reserves.
2. Homeowners' Meetings: Planning, conducting, and recording homeowners' meetings, including voting processes and document management.
3. Document Management: Management and archiving of important documents, such as declarations of division, minutes, contracts, and invoices.
4. Dunning and Receivables Management: Automated dunning process for delinquent homeowners and management of outstanding payments.
5. Maintenance Planning: Planning, documentation, and tracking of maintenance and repair measures, including offer comparison and order placement.
6. Communication Management: Enabling communication between homeowners, managers, and service providers through centralized platforms or portals.
7. Insurance Management: Management of building insurance, claims management, and communication with insurers.

Examples of "WEG Management":

1. Creation of Annual Accounts: The software automatically generates a detailed account of the year's revenues and expenses.
2. Planning of Homeowners' Meetings: Functions for digital invitations, voting, and recording the results of homeowners' meetings.
3. Reserve Fund Booking: Management of reserves for future maintenance or repair measures.
4. Automated Dunning Process: Automatic creation and dispatch of reminders for overdue payments.
5. Digital Document Storage: Contracts, minutes, and other important documents are centrally stored digitally and accessible to all authorized persons.
6. Insurance Claim Handling: Management and documentation of insurance claims, including communication with insurance companies.