Charlottenburg-Wilmersdorf investors guide

A bourgeois district and the center of the former West Berlin. It´s the place to go shopping of world renowned standard and because of the many stages as well the center of entertainment and culture with a long tradition. The hassle bustle , which is so common for a capital city, can easily be left behind: between Kantstrasse and Kurfürstendamm, as well as between Kaiserdamm and Olympiastadion, one can find very comfortable residential areas, not far from the city lakes, forest areas and a picturesque Schlossgarten. The exclusive Kurfürstendamm, in Berlin slang simply called Ku´damm, hosts the stores of almost all the world famous brands and designers of luxury articles varying from Italian shoes to Mercedes Cabriolet, as well as the best hotels of the city. The Tauentzienstrasse is the street that connects to the Ku´damm, doesn´t the name sound familiar? Nevertheless you surely know it, because this is the street where the heart of the City-West beats and where the imposing Kaiser-Wilhelm-Gedächtniskirche stands. Because of, or in spite of, the missing roof it´s the most photographed object of Berlin. Only a few meters away, the next highlight makes its entrée, the honorable KaDeWe, the largest department store in Europe widely known for its up market assortment and large range, not equalized yet. Nevertheless it would be unfair to downsize this district to its shopping assortment only, than more diverse than this a district hardly can be. If we would take a look at Charlottenburg from a cultural point of view, the wide range of famous stages immediately occur, like the Theater des Westens, Komödie am Ku´Damm or the exciting Renaissancetheater as well as the Deutsche Oper, the second largest in Germany. On top of this an enormous amount of smaller theaters, old style honorable and modern cinemas, jazz clubs, cafés, galleries present themselves. Especially favorable is the area around the gaudy Savignyplatz which has this air of Paris about it. The universities contribute to give this district a younger charm, especially the TU-Berlin and the famous UDK (university of arts). Covering an area between Zoo station and Ernst-Reuter-Platz, they have the largest inner city campus of Europe. Would you want to take your loved one to an outdoor activity, visit the city zoo or the historical baroque garden of the Charlottenburg palace. And then afterwards one could go for a picnic at the water side of the picturesque Lietzensee or at the river side of the Spree. In case you like to travel by car as much as you can do without it, in both cases Charlottenburg is a good place to live. The tightly woven web of public transport for both under and above ground railway services, with two of the largest stations of the city and various bus lines, for example with direct connection to the new airport BBI and the central station, offers plenty of travel possibilities. If you prefer to travel into another district or explore the surrounding area of Berlin by car, take advantage of the excellent connections to the inner city highway which downsizes the large distances of this big city to several minutes. Still, the list with the many qualities and attractions of this one of a kind district are not complete. Another highlight is the Olympic stadium, an architectural monument not only because of its size, aesthetics and rich history, but as well because it hosts the most successful football club of Berlin: Hertha BSC. Other impressive architectural buildings are the exhibition centre, the Funkturm (radio tower) and the International Congress Center, ICC. In this terrain a diversity of fairs, concerts and events take place, among which the largest travel fair of the world (ITB). The names of the different residential areas in this district differ just as much as their characters. Westend, in the neighborhood of the Olympic stadium, Kurfürstendamm and its surroundings, Bismarckstrasse or Nord-Charlottenburg with its palace, are all exclusive and fantastic locations. These areas offer a wide range of high class real estate, from quiet living in a detached villa to an apartment in a lively shopping street, from a modern house block to renovated period buildings. Charlottenburg is regarded as a high-end district, which has, in opposition to districts as Zehlendorf or Steglitz, a wide variety of local amenities, urban lifestyle and all together perhaps the most variable mixture of all the districts in Berlin.

Mitte berlin - investors guide

Anyone who knows Berlin and remembers the Mitte district doesn’t think about a typical city centre. More likely they remember the cosmopolitan mix of the resident Berliners and their passion for fun. Mitte is not your typical city centre and doesn’t compare with other major cities. Looking at Mitte you don´t just see a well developed city with its headquarter buildings and successful enterprises but a centre with a concentration of tourist highlights, entertainment possibilities and comprehensive transport options. Anyone who knows Berlin and remembers the Mitte district doesn’t think about a typical city An example of one of the unusual faces of Mitte is the extent of residential areas within the city centre. Within this buzzy district lie quiet, tree-lined streets offering quality accommodation where families can enjoy the wealth of local amenities. Neighborhoods such as the Spandauer Vorstadt north of the Hackescher Markt and the Museum Insel offer a mix of tourists and residents enjoying the wide range of good restaurants and bars. Families with children from the local neighborhoods take their breaks at one of the many playgrounds while drinking café-au-lait or a hot chocolate. Most people would not consider living with their family in the inner cities of London, Paris or Moscow, however, in Berlin it is possible to combine the short trip to work with a good social infrastructure – an urban life with park areas and family friendly living. All around Mitte you will be aware of the history of Berlin and its Prussian period. Examples include the Gendarmenmarkt, the Brandenburg Gate and Museum Insel - an island in the RiverSpree with buildings listed by Unesco - all fascinating reminders of a rich history. Alexanderplatz and its Fernsehturm (television tower), Checkpoint Charlie or the Karl-Marx-Allee on the other hand, represent the last century within the history of Berlin. Berlin´s boulevards and the historic centre are maybe best illustrated on ´Unter den Linden´ a centre line through the heart of Berlin. Running west to east from the huge park areas of the Tiergarten you can find a number of important historic buildings in Mitte: the Old Arsenal (Zeughaus) in baroque style, now the home of the German history museum, the Old Museum, the Berliner Dom or the Kronprinzenpalais (crown prince palace) currently used for cultural events. These are just a few of the impressive buildings in this area and soon will be another fine example with the re-building of the City Palais that was destroyed during the war. Another popular area is the Potsdamer Platz which rose, as a new city, out of the wasteland between the Berlin Walls (‘Todesstreifen´). Its Manhattan-like architecture combines a mix of office space and entertainment centres with a distinctive new flair. Friedrichstrasse is back to being a shining star again as a result of the re-united city offering a diverse range of exclusive shopping. Here you have the opportunity to buy everything from a ballroom dress to a Bugatti!! The Adlon, recognized as one of the best hotels in Germany, is only a few hundred meters further away and offers a base for many international stars when they pay a visit to Berlin. It’s surely worth checking out to see who is there! You should also check out the real estate in Berlin Mitte as the prices are so low compared to other city centre locations in Europe. However, prices are rising as more people start to appreciate the opportunity. On your visit you will notice the increased construction activity – a sure sign of what is happening! On offer is a range of new-built, exclusive apartments or superbly modernized period buildings. There is surely a property to suit your taste within this prime location in the center of Berlin!

https://www.sweet-home.co.il/?p=6001 https://www.sweet-home.co.il/?p=6337 https://www.sweet-home.co.il/?p=6180

Facility Management

A residential building in Germany consists of owners with different apartments under one legal entity called 'apartment building' (Mietshaus). The German law stipulates that maintenance of the building has to be handled by a professional property management company to safeguard appropriate maintenance and administration in the long term. The most important issue in managing a residential building is the property management company which takes all measures necessary to professionally and sustainably look after the building, budget management, administration, maintenance etc.). For this purpose an annual owners' meeting is being held where the property management will present a detailed report for the current year and discuss it with the owners, who will jointly take future decisions concerning the building.

Rent Management

The property management company is responsible for running the property and taking the necessary measures to ensure the proper functioning of the building, on a daily basis. However, it is not necessarily responsible for optimization and appreciation value of the investment, such as replacing a tenant rapidly, renovation of the property in between, and controlled raise of the rental fees. The fact that local and foreign investors have entered the real estate market in Berlin in recent years and the significant increase of apartment buildings have created the need for a more effective connection between the owners and the property management and the need for active involvement in appreciation of value by rent management. Rent management includes management of a single apartment unit and the representation of its owners, while effectively managing the tenant on behalf of the owner, optimization of the investment respectively replacement of tenants, raise of rental fees on a regular basis and representing the owners during annual meetings.

Raise of rental fees

One of the main components that is crucial for the property value is the rent paid by the tenant, which determines the yield for the investor. Therefore, consistent and professional control concerning the increase of the rent is a crucial factor for appreciation value.

Existing rental agreement

Germany has a unique calculation system for urban rental tariffs, called 'Mietspiegel, based on dozens of variables such as: year of construction, quality of construction, facilities and level of finish in general, neighborhood, exact location, and more. The 'Mietspiegel' includes a controlled mechanism to raise rental fees that allows an average increase of up to 15% within a period of 3 years. However, raising rental fees in Germany is a procedural and official process requiring a thorough inspection of the property by an expert. This procedure is taking place once in 3 years and is part of the rent management. It is a mean to appreciate the value of the property at any given time.

New rental agreement

When signing a new rental agreement, the owner is not obligated to follow the urban 'Mietspiegel' and has the right to apply the market price that is determined by the demand of the 'rental' market. In 2013, rental fees for a new lease in Berlin's popular neighborhoods have reached a level twice as high as the 'Mietspiegel'.

Change of tenants

In 7 – 10% of the rented apartments in Berlin tenants are changing yearly. A new tenant is an excellent opportunity to appreciate the property's value by refurbishing the apartment and charging a higher rent in line with the market prices. The property management will provide the information regarding the adequate market price based on location and level of the apartment facilities. Thus, the owner will be able to optimize his investment and enjoy a higher yield in the long term.

Long-term rentals and mid-term rentals (limited period)

Any tenant who has been renting an apartment in Berlin, holding a standard rental agreement for long-term and has been living in the apartment over a year has the right to stay in the apartment for an unlimited period provided that he has been paying his rent regularly. This is the most common situation in Berlin. However, the increasing number of students and immigrants moving to Berlin created the need for furnished apartments for a rental period between 3 months and one year, where the release date will be set in advance. The rental tariff for a furnished apartment is higher than a long-term rental. This type of rental agreement is not a binding contract and a release date is set in advance. Another protruding advantage, of course, is that the rent will be adjusted to the market price with each new agreement, i.e. every year the rent will be adjusted to the prices of the local rental market. Beyond that, when selling the property an empty apartment will always be higher in value than the same apartment bound to a long-term rental agreement. More about mid-and short-term rentals in Berlin

Investment realization

Rent management allows the investor to maximize his profit as from purchase of the property to its realization. Appreciation value is influenced first of all by local and urban value increase, condition of the apartment and the level of rental fees. A quality rent management is providing the owner continuously with all necessary advice and information and is crucial to achieve maximum optimization of the investment. We strongly support active rent management policy to achieve appreciation value of our clients' property in Berlin.

Transparency of information

Rent management services, which we provide to our loyal customers reflect our concept: we spare no effort to maximize our clients' investment in the city. For this purpose, we use an online rent collecting system with full transparency to our clients also showing transfer of the rent to their bank account. This activity is carried out by Internet interface available to our clients who can access it using a personal password. To the service