The tasks of the property management are manifold

If the owner of an apartment building hires a property management company, he can save immensely. Otherwise he would have to take care of the management himself. For most people, this would mean that they would first have to acquire various accounting and technical skills. In addition to finding tenants, looking after the property and bookkeeping, the many tasks of property management include the following:

• Rents (verification of receipt, administration of funds, if necessary. Adjusting the amount of rent and enforcing the new rent)
• Formulating new leases
• Elaboration of individual agreements with individual tenants
• Receivables and complaints management
• Preparation of operating and ancillary cost accounts according to legally prescribed distribution key
• Bookkeeping, budget planning and cost review
• Settlement of costs incurred for repairs etc. (a separate account is set up for this purpose)
• Providing evidence to the owner
• Advertising the apartment and selecting the next tenant
• Viewings and apartment handovers including handover protocol
• Hiring service providers, checking the work (garden, cleaning service, winter clearing service, etc.), etc.)
• Operation and regular control of facilities (e.g. B. heating system, water, gas)
• Supervision of service providers (janitors, gardeners, cleaning service)
• Commissioning maintenance, servicing and repairs
• Commissioning of modernizations (after consultation with owner/landlord)

The exact tasks to be performed by the property management company are specified in the contract. There are no legal requirements for this.

There are different types of property management

When talking about property management in general, this can mean rental management, WEG management or condominium management. Their tasks partly overlap, but there are also clear differences.

The rental management

In a rented apartment building, the rental management is responsible for the above-mentioned points. It receives complaints from tenants, for example, and checks complaints by inspecting the property.

The WEG management

The WEG management takes care of the common property of a condominium owners' association (WEG). Unlike an apartment building, this is a multi-family or row house where the apartments or row houses are occupied by the owners. The tasks of WEG management include the following:

• Collection and control of the house payments and management of the joint accounts of the owners
• Accounting and annual statements, including maintenance reserves
• Implementation of payment obligations
• Defense against unjustified claims
• Preparation of the business plan
• Comparison of offers to minimize costs
• Inspection of the common property to assess its condition
• Identifying necessary actions and informing owners
• Convocation to owners' meetings including taking of minutes
• Drafting the contracts for the service providers who take care of the common property

Condominium managers are also responsible for inspecting the facilities and hiring service providers for recurring and one-time tasks. It is advisable to hire a property management company if there are more than 3 or 4 different owners, otherwise disputes can arise quickly. Theoretically, someone from the apartment community can take over the duties if he or she has the appropriate skills. However, to avoid conflicts of interest, it is better to have an outsider do the job.

The special property management

Condominium management is also residential management – similar to rental management. However, it refers only to individual apartments in a larger property. If, for example, in a house with 10 parties, 6 apartments are owned by individual owners who rent them out, and 2 apartments are owned by 2 other persons, each apartment owner can theoretically appoint his own property manager.

This person takes care of all rental matters, searches for new tenants and receives complaints. He is responsible for all the above-mentioned points, which concern the apartments assigned to him. Community property, on the other hand, does not fall within its area of responsibility.

Property management: costs depend on various factors

The costs associated with property management can only be roughly estimated, as there is no fee schedule. However, since there is a lot of competition in the property management market, prices have become relatively close to each other. For rental management, providers often charge between 20 and 25 euros per unit per month, and for WEG management between just under 20 and 30 euros. Parking spaces or garages add another 3 to 5 euros to the bill. Another popular method of calculation is the percentage of the cold rent. This is often around 5 or 6 percent. Differences in the amount of costs are caused, among other things, by

• the number of housing units,
• the condition and location of the property (costs may be higher in structurally weak areas),
• The scope of the agreed tasks,
• the rental clientele (tenants known to be complicated), and
• The desired accessibility of the property management (usual working hours vs. accessible around the clock).

It is worthwhile to obtain different offers and compare the costs. Pay particular attention to additional costs charged for certain services: For example, this could be an hourly fee for owners' meetings or an extra cost for checking the heating system on a regular basis.

For example, for a house with 10 apartments and the same number of parking spaces, the costs could be between 230 and 350 euros per month according to the first type of calculation – plus the costs for the extra services. If, on the other hand, you assume a cold rent of 800 euros, the share for the apartments in the percentage calculation already adds up to 400 euros. A comparison is therefore important.

How to find the right property management

Basically, you should look for a property management company that is located in the vicinity of the property: Due to the inspection that is necessary from time to time and the role as a contact person for the tenants and owners, the headquarters of the management company should be within easy reach.

The term "property manager" is not protected and there is also no corresponding training profession. Consequently, since anyone can call themselves that, it's best to take a gander at the websites of the administrations in question: Are the people in charge trained real estate agents or graduated real estate managers resp. Real estate managers, you can assume that they bring expertise to the table.

Another way to convince yourself of the professionalism of the provider is to check whether the company belongs to an administrator association. If this is the case, it meets standards that are not required by law. The associations carefully consider who they accept and rely on relevant knowledge and experience. Many associations make a membership also dependent on whether the candidates have a pecuniary damage liability insurance concluded.

Inform yourself on independent evaluation platforms also about the experiences of other customers with the provider.

Conclusion: the careful choice of property management pays off

If you rent out a property or live in it yourself, but share common property with neighbors, you are well advised to hire a property management company. The administrators take care of all time-consuming tasks around the apartments, keep an eye on the general condition and point out necessary repairs or modernizations. They are a competent contact for complaints or questions from residents and take care of service providers for gardening, cleaning or winter snow removal service. Since the property management company receives access to important accounts from the owners, it is essential that it be trustworthy and well insured.

The post Property management – tasks, duties, costs appeared first on Jhcolorpowdercoating.

Moscow The shopping fun has gone out of many otherwise especially at the New Year's celebration consumer-joyful Russians by the consequences of the war in this year. The metropolis of Moscow, for example, shines with opulent decorations and the Jolka, the Christmas tree, on every major square as if to prove that energy is the least of the commodity superpower's problems.

But the glamour can hardly hide the many problems: Many businesses are closed. Shopping malls are sometimes deserted. Restaurants complain of a lack of New Year's celebrations.

Dior, Chanel and Swarovski boutiques stand empty in Moscow's Yevropeysky shopping center at the Kiev train station. Thousands of Western companies have sold their representative offices in Russia because of Moscow's war against Ukraine, because the sanctions of the EU and the USA make business difficult or impossible.

Numerous shopping centers faced bankruptcy, says economics professor Kirill Kulakov. Already due to the closures during the pandemic, many had fallen into disarray.

"The problems have worsened now after the start of the special military operation in Ukraine and because of the declining purchasing power of the population," he said in a radio interview. Kulakov expects situation to come to a head.

Many Russians have lost their jobs due to the withdrawal of Western companies and investors. But even those who have work are short of money because of the inflation of about 15 percent, because food and other goods of daily use are becoming more and more expensive.

Mood worsens in Russia

Although Russian state media in foreign reports repeatedly show full of malice also from Germany demonstrators and other dissatisfied complaining about energy prices, cold apartments and other hardships. This is to show Russians that it is better at home, where many apartments are overheated.

The mood in Moscow and other cities is gloomy despite the glitter of lights.

But anyone who commutes between Russia and Germany quickly notices that the mood in Moscow and other cities is gloomy despite the glitter of lights. The standard of living is falling. No one knows how long the war will last.

The fear is great that Kremlin boss Vladimir Putin could call up even more reservists for the war and destroy thereby still more holy family worlds. Even though Putin smiles away the problems in his television appearances, people's uncertainty is palpable.

Many numbers reflect this. Sellers of furniture, household appliances and electronics complain of sales slumps of 30 percent or more. Construction materials, footwear and clothing, and cosmetics are similar.

Although it is no problem to get the latest iPhone in Moscow despite the withdrawal of Apple. But not least because of the state-controlled ruble exchange rate, people have to dig deep into their pockets for these things.

Russian car market feels the crisis particularly hard

So-called parallel imports have increased sharply. In this case, goods are imported into Russia by third parties bypassing the manufacturer – by circumventing sanctions. Turkey and Kazakhstan, which do not support the West's sanctions, are important partners of Russia here.

High-tech articles for industry and armaments are also in demand in Russia. Not only the sanctions and in particular the ban on chip deliveries, but also a worldwide shortage of these components are hindering this development.

Tree companies are threatened with bankruptcy

Like the car industry, the real estate industry is also complaining about sales problems. There is an oversupply because people have no money to buy apartments. According to statistics, construction companies can currently sell one in three apartments in new construction.

The situation threatens to worsen in the coming year because the state-supported mortgages that have supported the market up to now will expire. Then several construction companies are threatened with bankruptcy.

So far, Putin and his government are hardly offering any solutions to the problems.

Putin and his government are hardly offering any solutions to the problems so far. The Kremlin is rather counting on the crisis-tested frugality of many Russians. When Putin was once asked whether it was a bad thing that there was hardly any color left on yogurt pots, for example, he replied that beautiful packaging was more important than Russia's sovereignty. He meant that Russia, despite all the disadvantages and sanctions, will continue its own foreign policy and thus the war in Ukraine unswervingly.

The post Ukraine war: russia feels the sanctions appeared first on Jhcolorpowdercoating.

If you are in the construction industry, you will likely need legal advice at some point. Construction law is a fast-moving industry with constant changes and challenges. This means you need a specialized partner who can keep up with your business and support you as your company grows. To help you find the right lawyer, in this article we present five of the best German lawyers for legal advice in construction law. We go into their areas of expertise, give tips on how to hire them, and explain for whom they are not suitable as consultants. So read on to see who should be next on your list…

Jens Wernicke

Jens Wernicke is a construction lawyer and works exclusively with companies in the construction industry. He began his career at the age of 18 as an intern in a Hamburg law firm, Germany. He then graduated from the University of Hamburg with a degree in professional law. During his studies and in the years that followed, Wernicke continued to develop his interest in construction law. He worked in large law firms and was admitted to several bar associations. He finally found his niche with construction law and has practiced exclusively in this field since 2003. Experienced in all aspects of construction law and is a specialist in many areas, including real estate law, contract law, negotiable instruments law, project law and more.

Udo Andresen

Udo Andresen is a construction law specialist with more than two decades of experience. He first studied civil engineering and then law, and completed his law degree at the University of Hamburg. He then practiced law at various real estate and construction law firms before starting his own firm in 2006. He is an expert in all areas of construction law, including real estate law, project law, contract law, property law and more. He also has experience in business law and a number of other areas, including environmental law and dispute avoidance.

Alexander Fuchs

Alexander Fox is a construction law attorney based in Munich, Germany. He is a partner at Fox& Fox, a law firm that focuses exclusively on the construction industry. He works closely with his clients to help them navigate the many challenges in the construction industry.

Since founding his own firm in 2010, Fox has built a solid reputation as an expert in construction law. This includes all aspects of contract law, real estate law, project law and more. He also has experience in business law, including corporate law and M&A.

Fox also has extensive experience in environmental law, including environmental impact assessment and energy law. He knows exactly how projects and operations can impact the environment, both positively and negatively.

Carsten Stolle

Carsten Stolle is an attorney for construction law based in Hamburg, Germany. He has experience with all aspects of construction law, including real estate law, contract law, project law and more.

As a practicing attorney for more than a decade, Stolles has earned a solid reputation as an expert in construction law. He has experience in all aspects of construction law and is a specialist in many areas, including real estate law, contract law, project law and more.

Michael Steinberg

Michael Steinberg is a construction law attorney based in Berlin, Germany. He is an expert in all areas of construction law and has extensive experience in real estate law, contract law, project law and more.

Steinberg was admitted to the bar in 2007 and started his own firm the same year. Since then, he has built a solid reputation as an expert in construction law.

One of his specialties is real estate law, including property management, real estate finance and more. He is also an expert in contract law and has extensive experience in project law.

Markus Scholz-Werner

Markus Scholz-Werner is a lawyer for construction law based in Hamburg, Germany. He has extensive experience in all areas of construction law, including real estate law, project law and contract law.

Scholz-Werner has been active in construction law for more than 15 years. During this time, he has experience in all areas of construction law, including real estate, project and contract law.

His experience makes him an expert in all matters related to the construction industry, including real estate development, construction management and more.

Conclusion

Construction law is an ever-changing industry that faces many challenges. To stay competitive, you need to know the laws, regulations and best practices, and you need to know what your clients expect and need from their projects.

Finding the right lawyer to help your business is crucial. In this article, we introduce five lawyers who are best suited for construction law. We hope this guide helps you find the right attorney for your business – from their areas of expertise to the tips you need to successfully hire them.

The post The 5 best german lawyers for legal advice in construction law appeared first on Jhcolorpowdercoating.

The shortage of skilled workers is one of the most important challenges facing today's economy. More than 60% of German companies see it as a current business risk (source: Statista). The real estate industry is also affected by this. Property managers, housing companies, construction firms, real estate agents – they all complain of massive problems finding qualified employees. The reasons are complex, but the good news is that solutions exist.

Whereas in the past, stacks of applications to job ads landed on the desks of human resources departments, today the picture is different. Recruiters specializing in the real estate industry report that more and more companies have to hire professional agencies to find suitable employees. But even that is no guarantee of success. Good personnel are in demand, and competition among firms is fierce.

This is the big problem for many companies: the real estate sector is booming, and company growth would be possible without any problems. However, lack of personnel is already a limiting factor on the road to success. This problem will not get smaller in the future, but will even get worse in the coming years and decades – thanks to demographic change.

Problems of the real estate industry – aging and lack of attractiveness Too much work, too few employees – look for a smart solution

Problems of the real estate industry – aging and lack of attractiveness

The average age in the real estate industry is already very high at 43.4 years – with an upward trend. The reasons for this can also be found in demographic changes. The birth rate is relatively low at 1.5 children per woman, and medical progress is enabling us to live longer and longer.

Projections are that by 2060, one in three Germans will be over the age of 65. However, it would be too simplistic and superficial to blame the aging society alone for the lack of young talent in the real estate industry.

In the past, many firms and companies have failed to provide incentives for young, potential employees. There is still no comprehensive digitization in the real estate industry. Other career fields and jobs that are already more developed therefore appear more interesting and attractive to young workers.

Too much work, too few employees – look for an intelligent solution

The situation is well known: Especially in metropolitan areas like big cities, the real estate market is small and demand is high. For every apartment advertised, there are usually hundreds of interested parties, which means a plethora of time-consuming procedures and processes for employees of housing companies and property managers.

Potential buyers of an apartment or property must be sorted and suitable candidates filtered out. With far more than 100 inquiries, this alone requires an enormous amount of time. After selecting suitable prospective buyers, viewing appointments have to be arranged, rejections sent and receipts of personal data obtained. For employees, this means a lot of paperwork and countless phone calls on the way to renting a property.

This is exactly where many companies would like to see more employees to balance this workload. There are already ways and means to work more efficiently and faster in the rental business.

How about a smart solution that not only creates new incentives for young people, but also compensates for the current shortage of future employees through digital processes?

Digitization as an opportunity – software as a solution

This is where EverReal's software comes into play. With EverReal, you can automate existing processes when changing tenants, saving a lot of time. Self-reporting, such as z.B. Proof of income or SCHUFA information, can be requested digitally, which saves you not only time, but also annoying paperwork. All in all, with software for the tenant change process, you can achieve a time saving of up to 80% compared to conventional analog processes.

So you have full control over all processes, completely digital and in a modern and clear platform.

Digitizing your processes not only creates incentives for younger people to gain a foothold in the real estate industry, it also relieves existing employees of routine tasks and optimizes resource management.

The post Shortage of specialists in the real estate industry: time for new approaches appeared first on Jhcolorpowdercoating.

This is because it is a good investment, especially if you decide to buy a house or an apartment in Vienna. In addition to affordable homes, you can also benefit from a high quality of life and excellent medical care. Not to mention the wide range of recreational opportunities.

To get your dream home, keep the following things in mind: Mortgages, refinancing, insurance and loan calculators. The key to success here lies in the information gathering process.

Mortgages

• Mortgages are fairly simple and straightforward, with fixed rate mortgages being the most common. They can be used to finance up to 70% of the property, for a period of between 15 and 30 years.
• Of course, you can change this term through your bank. Another possibility is a loan with variable interest rate.

Start with a lower initial interest rate, but may be riskier in the long run. To get the best of both, you can choose a mortgage combination that combines the two types presented.

Austria – Realizing the dream of your own 4 walls!
Image: @vkstudio via Twenty20

Real estate search

You have two options for this: either online real estate agencies or local real estate agents. Thanks to the brokers you can estimate the prices in different areas well, because they know the market very well.

You may also benefit from not having to hire a real estate agent. Sometimes sellers prefer to sell directly to buyers without involving intermediaries. In this case, you can check directly in the classified section of local newspapers.

Another traditional method that can work amazingly well is word of mouth advertising. If you tell your friends and relatives about your intentions, you can often expect some surprising offers.

Real estate agents

Local real estate agents can be very helpful in finding the best location for you. Not only do they have accurate knowledge of the market, but they also have a number of questions about the place and the area at hand that will help you a lot. You must also remember that real estate agents charge a commission, which is usually 3% of the property price.

To become a real estate agent, they must complete the National Certificate in Real Estate Brokerage and a demanding training program. In addition, they have the opportunity to join a voluntary association that provides additional training.

Viewing and selection of the property

With a real estate agency, the likelihood of wasting your time viewing properties you're not really interested in is very low. The questions you can expect are either related to your budget, how long you have been looking and what your requirements are.

Recently, online viewings have also become an important part of the industry. With the help of professional photos and videos you can get all the details and information you need.

The actual buying process

Now that you have received some general information about the most important aspects, we can move on to the purchase process. After you find the property you want, the process can take anywhere from 1 to 3 months.

Make an offer

This is done through your real estate agent. The offer includes a breakdown of the fees and costs associated with the purchase, also known as a cost breakdown. So that you know what to expect:

• Negotiations usually end up 5-10% below the asking price.
• Even a month can pass between the submission of the offer and the handover of the keys. Another important fact is that even if you only express your interest in buying a property, a verbal contract can be legally binding.

Make the down payment

After both parties have signed the purchase contract, the next step for the buyer may be to make a down payment. As a rule, this amount is equal to 10% of the purchase price. Money is held in escrow by the notary until the purchase agreement is finalized.

Arrange for an expert opinion

Even though construction appraisals are not common in Austria, they can be done as part of the negotiations with the seller. In plain language: your mortgage lender can demand a value appraisal, but not a construction appraisal. In fact, sellers are not even required by law to list all the defects in a property. Consequently, there is a possibility that they are not aware of it.

In this situation, as a buyer, it is best to hire an architect to inspect the property. This could even help you submit the required report to your mortgage lender.

Exchange of contracts

For the formalization of the purchase, the contract of sale is obligatory, which is drawn up by a notary public. It should contain information about when the transfer will take place and when the purchase price is due. Since it is not possible to withdraw from the purchase contract without a fee, the buyer should insert a withdrawal clause.

The sales deal

The final step is to register the property in the land register. At the same time, payment may also be due. After that, take care of things like insurance, utilities and telecommunications.

The post Austria – the way to your own home – tips appeared first on Jhcolorpowdercoating.

I would like to show you examples of how you can take advantage of allowances for inheritance and gifts and thus save taxes.

Example: Georg is self-employed. He is married to Martina. You have the daughter Cornelia. Georg has a rented commercial building near Frankfurt for 500.000 € acquired. The rental income serves as retirement provision for Georg and his wife. The value of the house is now 700.000 €, the trend is upwards. The spouses have agreed on the separation of property in the marriage contract and have drawn up a Berlin will: The spouses inherit each other. If both are no longer around, daughter Cornelia inherits alone.

Georg passes away. The house gets alone his wife Martina. The tax office approaches Martina and demands inheritance tax. Martina, as wife, has a tax allowance of 500.000 €. 200 on the amount exceeding this allowance.000 she pays inheritance tax of 22.000 €. When Martina later dies, the daughter Cornelia inherits the house. It has an allowance of 400.000 €. For the excess amount of 300.000 Cornelia pays inheritance tax of 33.000 €.

In total, the family has set aside 55.000 € inheritance tax paid. If the family only has small savings, they have to take out a loan to pay the inheritance tax and secure it with a land charge on the property.

How can this result be avoided?

There are several options:

Regulation by will

The spouses make these testamentary arrangements: They appoint each other as sole heirs. In addition, Georg bequeaths to his daughter Cornelia a co-ownership share in the house of ½. The value of this co-ownership share is 350.000 €. If Georg dies first, the wife Martina receives a ½ – share of the business house, the daughter Cornelia likewise. Martina and Cornelia inherit thus 350 each.000 €. These values are below the wife's tax-free amount of 500.000 € and below the daughter's allowance of 400.000 €. If Martina dies, Cornelia inherits ½ of her estate. Share. She has after her mother also an allowance of 400.000 € and thus does not have to pay inheritance tax.

Result: the house is inherited within the family without incurring inheritance tax.

Not only the inheritance tax is to be considered: Martina is to be entitled to the rental income alone to provide for her old age. Georg therefore bequeaths a usufructuary right to the entire property to his wife in the will. The usufructuary right gives the usufructuary, i.e. Martina, the right to continue to use the property alone. Thus, Martina is entitled to the entire rental income and is provided with.

Martina dies first. According to the will, Georg is the sole heir. Inheritance tax on the house does not apply, since the house belongs to Georg. If Georg dies later, Cornelia inherits the entire house and pays inheritance tax of 33.000 €.

Result: If Georg dies first, no inheritance tax is payable on the inheritance of the house. If, on the other hand, Martina dies first, inheritance tax of 33% is payable on the inheritance of the house within the family.000 € to. However, this is still a lot less than the inheritance tax burden of 55.000 €, if there are no suitable testamentary provisions.

Provision can also be made for this case and the inheritance tax of 33.000 € can be avoided:

Transfer during lifetime to the spouse

Transfer of a ½ – share of co-ownership to the wife

Georg transfers a ½ – share in the business house to Martina. Gifts between spouses are also subject to gift tax. The tax-free amount is the same as for inheritance tax 5000.000 €. The value of the ½ – share in the property is below the tax-free amount of 500.000 €. He retains a usufructuary right so that he can continue to receive the rental income for his old age. Further advantage of the usufructuary right. It can be deducted from the value of the property.

Example: The property is worth 1.2 million euros. If Georg transfers a ½- share to Martina, she receives assets amounting to 600.000 € donated. This exceeds her tax-free amount of 500.000 €, so that she will pay gift tax of 11.000 € would have to be paid. Georg retains the right of usufruct, the value of the right of usufruct is deducted. Assuming a value of the usufructuary right of 150.000, Martina receives assets for tax purposes amounting to 450.000 €. The tax value of the property is less than the exemption amount of 500.000 €. She does not have to pay gift tax.

Provisions for the event of divorce can be included in the transfer agreement.

Instead of a Berlin will, the spouses make the following arrangements: If one spouse dies, the daughter Cornelia receives his ½- co-ownership share in the property. The surviving spouse receives a usufructuary right. If the surviving spouse dies, Cornelia also receives his or her co-ownership share.

Consequence: If Martina dies first, Cornelia receives her ½- co-ownership share in the property worth 350.000 €. Cornelia therefore receives an asset value of 350.000 €. Thus, the taxable value of the ½- share is below 400.000 €. Cornelia does not have to pay inheritance tax. In addition, the value of Georg's usufructuary right is deducted from the value of the real estate, so that even if the value of the real estate is higher, no inheritance tax is payable.

Family home

If a so-called. Family home transferred, further tax advantages apply.

Example: The married couple Martina and Georg live in a spacious single-family home near Frankfurt. The value of the house is 700.000 €. The spouses have agreed on the separation of property in the prenuptial agreement and have drawn up a Berlin will: The spouses inherit each other. If both are no longer there, the daughter Cornelia inherits alone.

Georg dies. The house goes to his wife Martina alone. If she stays in the house for 10 years, the family home is exempt from inheritance tax. When Martina later passes away, her daughter Cornelia inherits the house. If Cornelia also lives in the family home for 10 years, she also does not have to pay inheritance tax. Another condition for tax exemption: the living space of the family home must not exceed 200 sqm.

If the real estate is not inhabited for the entire 10 years, inheritance tax is incurred in the same way as explained above for the inheritance of the commercial building. In order to be able to claim the tax exemption for the family home, the heir must move in immediately after the inheritance takes place. The case law of the Federal Fiscal Court interprets this term strictly. Cornelia lives in Frankfurt and moves into the family home. Three years later she is transferred to Munich by her employer. She therefore moves to Munich. Consequence: The tax authorities consider this as non-compliance with the obligation to occupy the family home for 10 years. Cornelia pays the full inheritance tax.

Conclusion: Even with family homes, it makes sense to make suitable arrangements for inheritance and gift tax ahead of time.

Georg therefore makes a bequest to his daughter Cornelia in his will: She receives his ½ – share of the family home. Martina and daughter Cornelia thus each have a ½- co-ownership share in the house.

Between Martina and the daughter Cornelia it comes to disagreements. Cornelia wants to turn her share of the house into cash. Selling a 1/2 share is difficult. However, as a co-owner, she can apply for a partition auction, a form of compulsory sale. Consequence: The house is auctioned. How can Martina and Georg prevent this from happening in the first place?? In his will, Georg bequeaths to his wife a lifelong, gratuitous right to live in the house. So that the house does not go to a third party during his lifetime, the right to sell the house during Martina's lifetime is excluded in the will.

The house is large, as is the garden. Martina cannot and no longer wants to manage this in old age. She should therefore be able to rent out the house so that she can use the rental income to rent a smaller, low-maintenance and possibly barrier-free apartment. Therefore, Georg bequeaths to his wife, instead of a residential right, the sog. usufruct right. In this way, Martina can not only occupy the property, but also rent it out and use the rental income to finance a smaller and lower-maintenance apartment.

Transfer during his lifetime to the children

The commercial building has a value of 1 million. The widowed Georg is the sole owner and transfers a 1/2 share to his daughter Cornelia during her lifetime. He retains the usufructuary right to the property. Cornelia thus receives assets of 500.000 €. Assuming a value of the usufructuary right of 200.000 €, Cornelia receives assets for tax purposes in the amount of 300.000 €. The tax value of the property is therefore less than the exemption amount of 400.000 €. So she does not have to pay gift tax.

Cornelia is entitled to this allowance every 10 years. Georg can therefore transfer the further co-ownership share to Cornelia 10 years later, again subject to the reservation of usufruct.

Conclusion: With skilful testamentary regulations and the correctly designed transfer of real estate during one's lifetime, inheritance and gift tax can be greatly reduced or even completely avoided. This is more important than ever, especially in times of rising real estate prices.

The post Transfer and inheritance of real estate and the inheritance and gift tax appeared first on Jhcolorpowdercoating.

Investing money in comparison – this topic was and is of particular relevance both on the Internet and in the offline world. Whereas it used to be sufficient to go to the local bank or savings bank branch to secure a decent interest rate, consumers now seem to need a real expert status.

An "invest money comparison" has long since ceased to take into account only the fixed interest rates for savings accounts and overnight money or time deposits, but also includes investment products such as shares, real estate and crowdinvesting, as well as cryptocurrencies, precious metals and more.

But what is worthwhile when and for whom? And how to deal with the significantly increased risks. In a good "invest money comparison" these questions are answered exhaustively and meaningfully.

Why invest money?

Before even bothering to "invest money comparison", the question arises whether it is necessary to invest money at all.

The sentence sounds a bit provocative, but in fact the purchase of tangible assets or the renovation of one's own four walls can be a more sensible measure than directing money into a savings account or a stock fund.

The current low-interest phase virtually invites consumption and those who need a handyman or have to buy a new car or washing machine should possibly act now. The reason lies in the already not very investor-friendly situation and favorable conditions for financing. Most consumer goods can be financed at zero interest and paid off in convenient monthly installments.

To find this out, all you need to do is open an advertising brochure or look at one of the relevant websites of major retailers. Mind you: consumer goods are only the right choice if there is enough flowing into private pension provision anyway. You just have to have the money to spare, but then a number of purchase incentives exist.

A good way of incurring necessary expenses and avoiding a "invest money comparison" is also to modernize one's own four walls. Why not go for a new and more efficient heating system? Or put solar panels on the roof?

An environmentally friendly conversion is not only the right signal in environmental terms, but also helps to save money in the future. In addition, a whole series of measures are subsidized by grants and are therefore more favorable.

How to read a "invest money comparison?

If you don't have your retirement plan in "the bag" yet, you're eligible for a "money investing comparison" and should study it as thoroughly as possible or even do your own research. The first step is to determine your own investment capabilities and readiness.

Salopp formulated, this can be compared with the question: "How much money do I have left at all??"formulate. It is advisable to look carefully, because incurring debt is not a good way to invest money, even in times of low interest rates. Who borrows money, in order to invest this then, takes a too high risk, why the safety device of the own existence and the expenditures for the everyday life always rank first.

As soon as one knows however, how much money is available once or monthly, the "money invest comparison" can start and one arrives at the determination of the own risk readiness. Read correctly: a risk is always present in today's world, as the guaranteed interest rates of the individual financial products are simply no longer sufficient to compensate for the rate of inflation.

Time deposit in the "invest money comparison

Anyone who owns a savings account can see what this means. The key interest rate of the European Central Bank (ECB) has been at 0.00 percent for several years and an increase is not in sight.

We are talking about the conditions at which the commercial banks can obtain money and which are generally passed on to the end customers. Thus it comes that a savings book or also time deposit with maximally a half or a per cent are interest-bearing. In contrast to this, the inflation rate and thus the price development is usually in the range between 1.5 and two percent.

If you invest for one percent and want to compensate for a two percent increase in prices, you make a loss on the bottom line.

It could also be formulated in such a way that all fixed-interest investments make a loss in any case and therefore should not be chosen. This affects not only fixed-term deposits and overnight money or savings accounts, but also life insurance policies and home savings contracts.

All of these financial products are relics from the past that have not yet seen a revival. A look at the assessments of financial experts and even those who earn their money with fixed deposits, namely the banks, confirms the devastating verdict.

In short: guaranteed interest rates no longer exist and so you move with an investment and any "invest money comparison" inevitably in a risk class

Shares and share funds in the "invest money comparison

Does it come or does it not come? And when will it come? The speech is in this case of the large stock exchange crash, which is expected since some years.

So far, the rapid decline in share prices has failed to materialize and share prices know only one direction: upward. In the case of shares, one acquires shares in a company and participates in its success. The share price, in turn, has a lot to do with the expectations of stock market traders for the future of the company. For laymen, this results in a kind of "black box" and a system that is almost impossible to understand.

For this reason one should invest only then directly into shares, if one acquired sufficient specialized knowledge. If you are not an expert in a particular sector or even a broker, you should exclude shares from the "invest money comparison" in order not to take too high a risk. A better diversification promises equity funds.

In the case of equity funds, it is – to put it figuratively – a basket consisting of the shares of different companies. The compositions vary and can track a stock index such as the Dax or invest in specific regional markets or even industries.

Past experience shows that equity funds have usually been a good means of investing money and have generated solid profits. Whether this will also be the case in the future seems questionable.

Those who want to save on management costs in this area opt for the so-called ETFs. The acronym stands for exchange traded funds, meaning funds that are traded directly without stopping at a bank in between.

With ETF can be invested in complete markets and the liquidity is maximum. They can be bought and sold at any time or held for retirement provisions.

"Investing money comparison" and real estate

And real estate? One does not read everywhere from the advantages, which the concrete gold offers? In fact, real estate prices have risen enormously in recent years, especially in metropolitan areas, and there is no end in sight to the price increases.

It is to be pointed out however also that meanwhile critical voices mix themselves in the concert of the real estate proponents and warn of a speculation bubble. In smaller and medium-sized cities, the potential may still be there, but especially in cities like Hamburg, Berlin or Munich, the "rally" may have come to an end for now.

Real estate takes a special position in the "invest money comparison", because they are among the products that benefit from low interest rates. In most cases the financing takes place over a loan and such is offered today extremely favorably. However, one must be able to adequately manage a property and take care of it.

Here comes the sentence from Art. 14 of the German Constitution, which states that "property is an obligation". Who was once on an owner meeting, will measure fast that a perception of these obligations is not always simple. There it concerns renovations, beautification measures or also the development of attics or also noisy tenants, garbage places and heating systems. Not always the individual owners agree and not everyone has enough money to buy a whole house directly.

In addition, there are the tenants, with whom a good relationship must also be found and who, of course, have to pay their rent regularly. Who sets on real estates, can if necessary. look forward to solid returns, but also has his hands full. They are not investments or retirement plans that you can just leave lying around and that work by themselves.

Risks are naturally also present with real estate. On the one hand, there is a possible deterioration of the location due to construction measures in the surrounding area or the departure of companies, the planning of flight routes, etc., on the other. But there is also the constant risk of major repairs to the house or problems with tenants.

Certainly, solutions can be found here as well, but the challenges must first be accepted and mastered.

Digital investments and crowdinvesting

A very contemporary form of investment offer digital investments or crowdfunding and crowdinvesting. In a "money invest comparison" these forms of the investment land on one of the front places, because here a simple and transparent handling meets solid net yields. Furthermore, there is the possibility of a perfect risk diversification, since it is possible to work with smaller amounts.

Crowdfunding or Crowdfinanzierungen carry their function mode already in the name. The "crowd" is the English word for the crowd and so it happens that numerous people finance a larger project with partial contributions. These projects are presented over digital platforms conceived particularly for this purpose and there is almost always the possibility of asking questions or of bringing closer details into experience.

Transparency is therefore at a maximum and no questions remain unanswered at the end of the day and before investing. The great thing is that it can be a real dialogue between the investors and the entrepreneurs, most of whom are not from the financial sector, but "just" have a good idea.

Critical inquiries provide for an improvement of the business model and have already supplied so some food for thought. This means that as an investor, you are extremely "close to the action", which is usually reflected in the fact that you select projects that suit you and that you perceive as promising or serving the general public.

Digital Maritime Investments

Digital maritime investments also play a good role in an "invest money comparison". Crowdfunding is also mentioned here, which in this specific case flows into ships. Experience has taught that investments in shipping have been promising for centuries.

Statistics show that around 90 percent of global trade is conducted via the seas. Trade volumes are continuously increasing and with global trade flourishing, new ships are always needed. However, much more decisive for a maritime investment is the enormous need for modernization.

To understand this, it is worth taking a brief look at the legislation in the maritime sector. Shipping companies are increasingly faced with regulations regarding the environmental friendliness of their ships and for this reason have to launch new ships or refurbish the old ones.

To accomplish this, crowdinvesting projects are placed and allow fixed returns of six to seven percent annually. Since it is an entrepreneurial investment in the form of a loan, losses are also possible, but there always exists a high level of equity in the shipping company and the value of the ship is also not negligible.

Gold and cryptocurrencies in the "invest money comparison"

At first glance, it may seem somewhat unusual that gold and the so-called cryptocurrencies are dealt with in one chapter. In a "invest money comparison" both forms may not be missing also because they are mentioned everywhere.

Gold has existed since the dawn of mankind as a means of payment and an object of value, but it has the enormous disadvantage that it does not yield any return whatsoever. One buys gold and can sell it again, as long as the price promises corresponding profits. More is not possible, because it is "dead capital".

Moreover, gold is assigned value only by society and past history. The actual technical demand for the precious metal is much lower than the circulating amount of gold, so that a price drop is also possible.

In the last few years, cryptocurrencies have enabled almost fantastic profits, but at the same time they have also experienced downturns of unimaginable proportions. Inevitably one feels reminded here of roulette, because the risks in addition, profit possibilities are enormous in each case.

A major disadvantage is that the mechanisms behind a cryptocurrency are difficult to understand and hacking attacks happen again and again. Furthermore, there is no superior authority to turn to in case of a possible fraud. Thus, one can be lucky or not.

So what to do?

An "invest money comparison" usually raises more questions than it provides answers.

Basically, higher risks are associated with higher prospects of profit. Those who are willing to do this or have enough money to spare can take the plunge. However, it is always necessary to consider a spread of the invested capital.

The post Invest money comparison appeared first on Jhcolorpowdercoating.

The heating has not been working since you moved in? The landlord has registered his own requirements? Something is wrong with the utility bill? Or the rent is to be increased? My specialization in tenancy law enables me to give you reliable advice in my office for your concerns in Leipzig.

The topic of housing is an emotional one, as it involves a personal retreat – and it is not uncommon for small problem areas to escalate into major legal disputes. Because often the facts of the case are not as clear as those affected feel. Therefore: Contact quickly a competent lawyer in Leipzig for tenancy law, to avoid as a client large and expensive proceedings!

Even if you feel you are in the right: not all rulings are unambiguous and tenancy law is an area of law in the BGB (German Civil Code) that is subject to considerable changes due to the case law of the Federal Court of Justice. Regardless of whether you have rented an apartment and are in a tenancy relationship or are the owner yourself, it is often important to obtain legal advice from a lawyer for tenancy law from the Leipzig law firm.

Make an appointment with a competent contact person as early as possible and save yourself unnecessary high costs!

You have rented an apartment or you are the owner yourself? As a lawyer with many years of experience in tenancy law in Leipzig, I primarily represent tenants, but also landlords and estate agents.

As a lawyer specializing in landlord and tenant law, I support you as a client in the contractual drafting of residential and commercial leases for owner-occupied apartments, advise you on ongoing tenancies (e. B. in the enforcement of or defense against rent increases, problems with service charges, rent deficiencies, rent deposits, subletting and other difficulties), amendment of rental agreements, termination in the case of own use, problems with the rent index, disagreements about operating costs, the enforcement of or defense against claims for defects, up to the realization of outstanding claims from the rental relationship. As a lawyer specializing in landlord and tenant law, I offer comprehensive advice and representation in landlord and tenant law matters in my law office in Leipzig, Germany.

Let your lawyer for tenancy law from my law office in Leipzig advise you – no matter whether you are a tenant or an owner!

You have a problem with your rental company?

As a tenant, you quickly notice if the apartment, house or office space is not provided according to the contract. The heating leaks, the exhaust air system does not work, there are rental deficiencies – in this case you have the right according to the BGB (German Civil Code) to properly complain about existing deficiencies and possibly withhold part of the rent as a permissible rent reduction. But here lurk traps: If, for example, too much is withheld, this can lead to a rent arrears, which can even result in a termination, up to an eviction action including eviction. So if in doubt, call your lawyer for tenancy law in Leipzig.

Your lawyer for tenancy law in Leipzig supports you as a tenant and client in the case of

• the review of tenancy agreements and their supplementary agreements (e.g., rental agreements, lease agreements).B. subletting)
• a rent reduction and defense against rent increases
• the fight against rent deficiencies
• the enforcement of a right of first refusal in the event of the sale of the rental apartment
• the refund of a rent deposit
• the inspection of service charge statements and operating cost statements
• Claims for damages
• unjustified notices of termination and notices of own use
• questions concerning renovation and cosmetic repairs
• Problems with the local rent index

As your lawyer from the law office for tenancy law in Leipzig, I will answer your questions and provide you with comprehensive advice! Please contact me if you are looking for a successful out-of-court solution. Through my work as a lawyer in the legal field of landlord and tenant law, I have years of experience in solving landlord and tenant law problems and can competently support you in my law office in Leipzig in all areas of landlord and tenant law.

The post Tenancy law – your lawyer in leipzig appeared first on Jhcolorpowdercoating.

Current interest rate/key ECB rate

How high the construction interest rates and their development are in 2018 depends primarily on the general interest rate level, which is set by the European Central Bank (ECB) with the prime rate. The ECB is currently pursuing a zero interest rate policy. This means that the prime rate is at 0.00 percent. This also affects the level of interest rates: These are currently lower than ever before. Such a low level of interest rates is supposed to boost the economy. The aim is for investors to make more investments again, for example by taking out construction loans with banks and spending them on real estate. Regardless of the loan amount as well as fixed interest rate, you have to spend much less money to repay a real estate loan with the current monetary policy. You pay this back in the form of installments to the respective credit institution.

Conclusion: The general interest rate level is based on the given key interest rate of the ECB. Banks grant real estate loans at the prevailing market interest rates. Because interest rates do not remain constant, but can change at any time, the time at which you conclude a real estate financing is decisive for how much the loan will cost you. Therefore, always keep an eye on the development of construction interest rates, also in order to secure favorable follow-up financing.

Construction interest rates – development 2018 – a forecast

The advice of the ECB came only on 25.01.Meet in 2018 for the last time to decide the level of the key interest rate again. It was agreed to leave this at the record low of 0.00 percent. Thus, experts assume that they will maintain their level in 2018 and that there will be a slow increase in interest rates thereafter. Even if the president of the central bank, Mario Draghi, is satisfied with the economic development of the euro zone according to recent statements and plans to reduce bond purchases at the beginning of 2018, an increase in the key interest rate is not expected for the time being. This means that as long as the prime rate remains this low, consumers can expect mortgage rates not to skyrocket. This is because banks can obtain money cheaply and pass on these favorable conditions to their customers.

A decisive factor in financing is that you lock in favorable interest rates for as long as possible. You should therefore tend to choose long terms, such as 10, 15 or even 20 years, in order to secure the lucrative conditions for as long as possible. For optimal planning security of your construction financing over a long period of time, you can use the practical online interest calculator at your 1822direkt. With this you have the possibility to calculate the interest rate for your real estate loan for different loan amounts, different equity ratios as well as flexible maturities. In this way, you can make a comparison and select the best offer for you individually.

Construction interest rate development 2018 – What can consumers use as a guide??

Even though the ECB sets the key interest rate and this influences the interest rates for real estate loans, banks still have individual margins. Consumers can see how construction financing rates are evolving by looking at the following indicators:

How is this related? Banks partially refinance their customers' construction financing via the Pfandbriefe. In order for as many investors as possible to make their financial resources available to the banks, the banks must offer investors better conditions than they would get with government bonds. Therefore, the credit institutions are guided by the interest rates and yields of German government bonds.

How does the construction interest development 2018 affect the real estate prices?

The low construction interest rates not only enable favorable real estate financing. At the same time they bring another effect. In times when real estate is cheap to obtain, demand for it increases. The lower the interest rates, the higher the loans that borrowers can afford with the same monthly burden. Investing in real estate is then particularly lucrative. At the same time, investments such as call money or time deposits are less interesting because they yield low returns at low interest rates. For the same reason, more consumers tend to invest in real estate. However, as demand increases, so do prices. This is particularly true of real estate prices in Germany's major cities. In addition to the general interest rate trend, you should therefore always keep an eye on real estate prices and include them in your financial planning.

The post Construction interest rates and their development in 2018 – a forecast appeared first on Jhcolorpowdercoating.

When drafting wills and inheritance contracts, one should proceed very conscientiously and include all individualities of a case. In order to prevent potential disputes among heirs from arising in the first place, we recommend that you seek professional legal advice. In addition, in many cases there are several options, which we will be happy to examine for you and advise you on which is suitable in your case.

We will gladly take over the watertight drafting of your will or inheritance contract

as an expert law firm for inheritance law – just contact us!

Who inherits what?

When it comes to the question of who inherits and in what proportions, there are many misconceptions that persist. For example, many childless married couples think that their inheritance automatically goes to their spouse. In fact, the legal succession also includes the parents and siblings of the deceased spouse. In order to avoid surprises and to regulate one's own succession, one should therefore deal early with one's will or. The following important questions should be addressed in a contract of inheritance.

The following aspects, among others, must be clarified in advance:

• What valuable items or. What assets are inherited?
• Who should receive the assets?
• Are there any liabilities that are to be inherited as well??
• If a certain object is to be bequeathed to someone without that person becoming the heir?
• Should the company succession be regulated by inheritance contract or by will??
• Who should get custody of minor children if something happens to both parents??

In principle, you can appoint any natural person or organization as an heir or heiress in your will. If you do not draw up a will, the legal succession applies. This is governed by §§1922 ff. BGB (German Civil Code) and depends on the degree of relationship. But also the spouse or registered partner is taken into account. In addition, parents and children will participate in the inheritance with a compulsory share, regardless of what you have stipulated in your will.

Will or inheritance contract?

The main difference between a will and an inheritance contract is that you can draw up your will alone, but an inheritance contract can only be drawn up together with at least one other person (contracting party).

In this respect, the will has the great advantage that it can be changed at any time, provided it is not a spouse's will. In the case of an inheritance contract, changes are only possible with the consent of the other contracting parties. In addition, a will takes precedence over the legally stipulated succession; only the statutory claims to a compulsory portion can be waived only in exceptional cases.

An inheritance contract, on the other hand, is binding, so if a firm commitment to a specific succession is important to you, you should prefer an inheritance contract to a will. An inheritance contract can also be understood as a positive signal to the heirs, who can then be assured that the succession can no longer be shaken and there will be no unpleasant surprises.

Draw up a will yourself – a notary is necessary?

In principle, there are no mandatory legal templates, but everyone can also write his will at home. However, the will must be handwritten; a document signed but written on a computer is not sufficient. In addition, a handwritten will can also be valid as a supplement to a notarized will. It is also important to indicate the place, date and a signature when making a will yourself.

But: There are always cases in which a will offers too much room for interpretation and can be interpreted in different ways. Formal errors can also lead to a will not being legally effective. Here it is worth going to a specialized law firm or a notary public. In addition, a will – regardless of how it was drawn up – can be deposited with the local court so that it can be found and executed accordingly when the inheritance occurs.

Berlin will – when is the joint will useful??

The Berlin will, a variant of the joint will, can be drawn up by spouses or partners in a registered partnership and has the advantage that the inheritance is not simply distributed according to the legal order of succession, but the surviving partner is first bequeathed the assets and then these go to the children, for example. This can ensure that the surviving partner's standard of living does not change.

Tax disadvantage: Under the Berlin will, assets must be taxed twice, once when the deceased person's spouse inherits and a second time when the second spouse dies and the inheritance is transferred to the children.

Legal advice on the drafting of inheritance contracts and wills

When you're dealing with your estate, don't forget this above all: After you pass away, your loved ones have one thing to deal with above all else: their grief. If the deceased took careful care of his or her legacy before passing away, it takes much of the burden off the shoulders of his or her loved ones during this difficult time.

We would be happy to advise you on this in a personal meeting and explain what is important in your individual case so that your inheritance is managed exactly as you would like it to be. We take care of the small print and together with you we will draw up your last will and testament or a contract of inheritance.

The post The last will and testament: will and inheritance contract appeared first on Jhcolorpowdercoating.