House fees

Everyone who buys a condominium and thus becomes part of an owners' association must pay house fees. The money is paid monthly to the property management. 

It is a kind of advance payment to cover the operating costs. This means, for example, the costs for electricity, waste disposal, water supply, insurance, cleaning and janitor services, maintenance work, care of the outdoor facilities, maintenance reserve and the property management itself.  

The amount of the house fees is proposed by the property manager and decided by the owners' association. It always depends on the equipment and the condition of the whole complex. The older and/or more luxurious it is, the higher the house charge will be. 

By the way: As a landlord, you can pass on part of the ancillary costs to your tenants, so that they already pay the share for water or electricity, for example, as part of their monthly rent payment.