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 handling new rentals to processing damage reports and settling 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-management 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 undertaken as part of 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!
