BR and HR report on questionable handling of WEG funds
Munich, 28 November 2023 | Homeowners’ associations (WEG) in Germany entrust property management companies with billions of euros in maintenance reserves. A network of companies has now apparently invested several million euros in risky bonds to finance construction projects and properties – in some cases without the owners’ knowledge.
Our partner and condominium lawyer Burkhard Rüscher has represented a total of around 30 clients against the property management company involved and speaks in an interview with reporters from BR and HR about special fees of up to 15,000 euros each, which were charged without any legal basis.
During their research, the journalists came across 16 legally binding judgements from local and regional courts in which the property management companies sued were all ordered to repay the special fees.
You can find the report in Report München from 28 November 2023 in the ARD media library at https://bit.ly/46FThAy, the audio report from Bayerischer Rundfunk (BR) at https://bit.ly/3uu7R0D.
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burkhard.ruescher@snp.law