Vocabulary

Search for term:

Wertermittlung: Assessment of value

By assessing the value, the market value is set. This is often determined from the sales and hypothecary value and serves to help come up with a possible sales price for a real estate.

Wirtschaftsplan: Economic plan

The economic plan is an arrangement of a multiple party real estate which is determined for every year. A property management is responsible for this and normal sets this plan in advance. Within this plan, the income and planned expenses are listed. After this plan has been laid out, all owners must pay the advancement. At the end of the year, the property manager must present a statement and, when applicable, reimburse and or request subsequent payment.

Wohngeld: Common charge

The member of a community association must pay preset advancements at regular intervals. All costs according to the economic plan are included in the calculation of the common charge (also known as condo fee). The individual owner can, under certain circumstances, charge the common charge to tenants in the case of a rental to a certain extent. This is then listed as the "apportionable ancillary rental costs". In another instance, the term housing allowance is used to describe financial support calculated, approved and paid out to low earners by the housing office to help pay rent. Entitled individuals must file an application with the housing office.