Renting out property - it sounds like passive income without much effort, but in practice it often means the opposite. This is because renting out an apartment involves many tasks.
From the processing of new lettings to the handling of damage reports and the settlement of operating costs. For private owners as well as institutional owners such as foundations, the question quickly arises:
How can the administrative burden be reduced - without losing control and transparency?
The answer: Sub-administration with professional support
What exactly is subadministration?
Sub-administration is a specialized management model for rented condominiums. In contrast to traditional property management, which looks after the entire property, sub-management focuses exclusively on the individual property - i.e. the specific rented apartment.
For whom is this interesting?
- Owners of individual apartments
- Foundations & family companies
- Professionally very busy people (e.g. doctors, entrepreneurs)
- Foreign owners
- Communities of heirs
- Investors:inside
What activities are performed by a sub-administration?
Takeover & letting
- Defect survey and recording of all relevant data
- Initial and new letting incl. credit check & rental agreement
- Apartment handovers and returns with protocol
- Deposit management - secure and transparent
Daily rental management
- Ongoing communication with your tenants
- Correspondence with property management & authorities
- Collection of rent and index adjustments
- Damage reports & repair coordination
Invoices, legal matters & reporting
- Operating cost estimates and annual statement
- VAT statement for owners entitled to deduct input tax
- Dunning & support in legal proceedings
Extras as desired
- Settling insurance claims
- Preparing VAT returns
- Optional additional services such as furnished rentals, renovations and much more.
Legally compliant letting
Many landlords underestimate the legal burden that the Tenancy Act (MRG) entails:
- Indexing must be carried out correctly and on time
- Operating cost statements must be formally correct
- Rent limits may not be exceeded
- Deposit management & terminations are subject to strict rules
Conclusion: Even small mistakes can cost money and nerves.
Ideal for foundations and larger owners
Do you manage several units or a portfolio? We take care of it:
- Standardized procedures & structured processes
- Legal certainty for complex contracts
- Regular reporting and full transparency
- Less effort with the same level of control
Why Kroy Real Estate?
Since 1975 we have been experienced real estate agent and sub-administrators for owners and foundations throughout Austria. Personal, professional, reliable.
- Decades of experience in real estate management
- Tailor-made solutions for individual apartments & portfolios
- Personal, professional & reliable
Carefree letting? It works with our sub-management solution.
Get advice now and hand over the administrative work - Kroy Immobilien takes care of it!
