How to do commercial property management
Commercial rentWhat companies should look out for with property managers
While such costs may not be passed on to the tenant when renting living space, this is very possible and also common in commercial space leasing. The tenant usually has to bear the costs of property management and settle them with the advance payments for operating costs. As a rule, a certain percentage of the annual net or gross rent is calculated as a flat rate. As the Federal Court of Justice (BGH) has already determined in a decision, even a charge of 5.8 percent of an annual net rent is not considered surprising and the amount is not considered immoral.
However, when negotiating the rental of new premises or operating space, many companies often do not pay sufficient attention to the role of property management and the resulting costs. An example shows what this can mean: the position of the property management costs for an office rental area of 500 m² and an agreed net rent of 20 euros per m² results in an annual charge of 4,200 euros with a flat rate of 3.5 percent of the net rent. Not to mention the question of what tasks the property management has to perform for this. Because it's not just about finances. The infrastructure around the rented commercial space and its daily operational use are important factors for the company and require clear responsibilities.
The services that are included in the administrative costs of a property management company are therefore most likely to become transparent through the submission of the management contract. A look at the law is of little help when it comes to clarifying the requirements profile of a property management company.
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