Guide
Switching property managers for larger portfolios.
A change rarely fails for lack of will, but because of a missed deadline, missing records or an unclear takeover date. The guide shows what has to be settled beforehand. 11 pages, nine chapters and a checklist to tick off. The guide is published in German; this page summarises its contents in English.
PDF in German, without registration, without giving an e-mail address.
Contents
The chapters of the German guide, translated here for orientation.
- The contract decides, not the dissatisfaction
- Deadlines at a glance
- What the previous manager must hand over
- Deposits: the point where things regularly get stuck
- Accounts, direct debits and payments
- Informing tenants and service providers
- Accounting and takeover date
- A realistic timeline
- The five most common mistakes
Plus a checklist for the change of manager to tick off.
Frequently asked questions
Who is the guide for?
For owners of larger residential and commercial portfolios who are considering or preparing a change of property manager. It is tailored to portfolios from 100 units and commercial properties from 1,500 m²; in principle the steps also apply to a single multi-family building.
Is the guide available in English?
The guide is published in German only. This page summarises the contents in English, and the steps are described in English at Switching property managers. We are happy to answer your questions about the change in English, by phone or via the form.
Does the guide cost anything, and do I have to register?
No. The guide is a PDF that you can open without registration and without giving an e-mail address.
How does a change of manager work and how long does it take?
First the existing management contract is reviewed, then terminated, or in the case of an owners’ association (WEG) the manager is removed. This is followed by the handover of the records, the switching of the accounts and informing the tenants on the takeover date. For a single building 90 days are often sufficient; for portfolios from 100 units plan for four to six months instead. More at Switching property managers.
When can I terminate the previous manager?
In rental management, the term, notice period and form in the management contract determine when you can change. Many contracts renew automatically unless notice is given in time. In a condominium owners’ association (Wohnungseigentümergemeinschaft, WEG) the manager can be removed at any time by resolution (§ 26 Abs. 3 WEG); the management contract ends no later than six months after the removal.
Which records does the new manager need?
Leases with amendments, rent accounts with open items as of the takeover date, proof of deposits for each tenancy, service-charge statements with receipts, contracts with service providers, utilities and insurers, inspection reports and maintenance protocols, as well as building records, floor plans and area calculations. For commercial properties, evidence for the VAT option and the indexation history are added.
What does management by HEPA cost?
You receive an individual quote based on the portfolio, the workload and the scope of services. We do not quote flat rates.
Who is my contact, and how quickly do you reply?
You speak directly with the managing directors, Yetkin and Erkin Hepaydinli. We reply to enquiries via the form within one working day; by phone you reach us on +49 30 467 268 110.
Discuss a change.
Briefly describe your portfolio and your preferred takeover date. We reply within one working day.
You speak directly with the managing directors:
Yetkin and Erkin Hepaydinli
Planning a change?
We look at the contract, deadlines and records before you give notice.