Glossary
Hausgeld
Owner's Monthly Charge. The monthly payment every condo owner makes to the WEG, covering building operations, management and the maintenance reserve. Typically €3–5/m²/month; only parts are passable to tenants.
Hausgeld hits net yield directly: of a €300 monthly charge, perhaps €200 covers tenant-recoverable operating costs, while management fees and the reserve contribution (~€50–100) stay with you. Always model net of non-recoverable Hausgeld.
A suspiciously low Hausgeld often signals an underfunded reserve — deferred maintenance returns later as a Sonderumlage. Check the Wirtschaftsplan and reserve balance in the WEG documents.