The coronavirus crisis has left its mark around the world. But not everything that the pandemic made necessary was negative. This includes working from home and digital communication, for example in the form of virtual homeowners' association meetings.
With the enactment of the law permitting virtual owners' meetings last year, a new chapter in communication between administrations and owners' associations has begun. To facilitate the transition, the German Association of Real Estate Administrators (VDIV) has published a practical guide and an overview of suitable software solutions.
Owners' meetings are the central body for decision-making in condominium owners' associations. This is where decisions are made that have a significant impact on the value and future of the common property. Smooth implementation is therefore of central importance for all parties involved—administrators and owners alike.
Until now, organizing owners' meetings has often involved considerable effort: complex logistics, high costs, and fixed dates in the evenings. However, the legal approval of virtual owners' meetings is fundamentally changing this, as holding meetings purely digitally offers a practical solution to key requirements. It simplifies organizational processes considerably and speeds up decision-making processes. At the same time, the virtual format creates more flexibility.
Virtual meetings also enable short-notice meetings to be held throughout the year, ensuring that decisions can be made quickly when urgent action is required. Location-independent participation not only means greater convenience for owners, but also greater participation, which strengthens the legitimacy of decisions. In addition, virtual formats lead to significant cost savings as they incur significantly lower expenses. Virtual owners' meetings set a new standard for efficiency, transparency, and modern communication between apartment owners and management.
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