Owners: How owners check their condominium annual statements for errors | Capital+
Owners should always check the annual statement carefully
© Westend61 / IMAGO
by Jennifer Spatz
3 minsOwnership entails responsibility – and owners are also responsible for reviewing the annual accounts of the condominium association. Property managers can also make mistakes. Here's what you need to be aware of.
Once a year, homeowners face a special challenge – when the annual statement arrives. The property management company prepares this statement and must present it to the homeowners' association (WEG) or the condominium owners' association (GdWE) and make it available to them. The statement lists all income, expenses, provisions, and other accounting items – but errors can creep in.
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