Only certified person
You are the only person certified under Section 26a WEG. Every meeting depends on you. You want to sell before that becomes a problem.
Does this sound familiar?
Two situations we know
Too many mandates, too few people
You turn down new owners' associations because the team is at its limit. A buyer should take pressure off the back office and keep the location.
Your day-to-day, as we know it
This is what happens in your business before anyone talks about succession
The owners' meeting evenings
From April to July, you or your property managers sit in a meeting almost every evening. The minutes are still waiting afterwards.
Removal at any time
Since the WEG reform (WEMoG), the owners' association can remove you without good cause. The contract ends no later than six months afterwards.
Late metering data
The heating cost statement arrives late, and without it there is no annual statement. The owners still start asking in February.
Enforcing special fees
Renovation support runs for months. Whether the special fee is properly covered in the management contract only becomes clear in a dispute.
How we measure your company
The metrics we look at in the first call
We look at the numbers you use to run your business yourself. The right column shows our acquisition criterion.
| Metric | What it tells us | Our benchmark |
|---|---|---|
| Units managed and WEG share | How large and how predictable the portfolio is. | We look for 800 to 8,000 units, at least half of them WEG. |
| Base fee per unit per month | Whether prices match the effort and when they were last adjusted. | Good if adjustments are approved regularly. |
| Remaining term of appointments | How many owners' associations must reappoint in the coming months. | We look for more than 18 months on average. |
| Persons certified under Section 26a WEG | Whether the know-how depends on more than one person. | Good with at least one certified person besides the owner. |
| Annual statements ready before the owners' meeting | How well accounting and property management work together. | Good if the statement is sent with the invitation. |
What actually changes after the acquisition
Step by step
We automate the desk work. Professional decisions and customer contact stay with your people.
TodayAssign bank statements to service charge accounts and cost types
With GTPAssignment runs automatically. Your accountant only checks items without a clear match.
TodayWrite the owners' meeting minutes and update the resolution register
With GTPThe draft is built from the agenda and notes. The manager proofreads and signs.
TodayAnswer owner queries by email and phone
With GTPThe system answers standard questions about service charges, statements and dates. Disputes stay with the property manager.
TodayUpdate the budget from last year's figures and contracts
With GTPThe budget is prepared. The manager assesses price increases and the level of the maintenance reserve.
Your systems stay in use:DOMUSHaufe PowerHausKarthagoImmoware24
AI potential in the segment
How much desk work can really be automated here
This is GTP's assessment. We show it upfront so you can see what we will work with after the acquisition.
Create annual statements automatically
Document recognition and rule sets pre-book invoices and generate the WEG statement per unit.
Prepare and minute meetings
Language models generate the invitation, agenda and resolution minutes from the resolution register and last year's data.
Owner queries at first contact
An assistant answers standard questions about statements, service charges and dates from the property data.
What limits the technology here
Paper files and inconsistent charts of accounts per property prevent models from booking correctly without rework.
What this means for you
If your accounting runs digitally and your charts of accounts are consistent, our due diligence gets much shorter.
Sources VDIV Deutschland, industry barometer 2026: 77.0% of management companies want to automate internal processes, 60.8% want to expand their use of AI (2026). VDIV Deutschland, industry barometer 2025: about one fifth of management companies use such tools, another third is preparing to introduce them (2025).
What we want to see
The documents we need
After the first call and the non-disclosure agreement, these five documents are enough for a solid offer.
- Property list with units, base fee and end of the manager appointment for each owners' association
- Templates and deviations of the management contracts, including special fees
- Certificates under Section 26a WEG and proof of training under Section 34c of the Trade Regulation Act (GewO)
- Annual statements and asset reports from three sample owners' associations
- List of removals and non-renewals over the last three years, with reasons
What we buy
Our acquisition profile for this segment
Criteria
- 800 to 8,000 units, at least 50% WEG
- EBITDA €0.5m to €5m
- Most appointments with more than 18 months remaining
- At least one person certified under Section 26a WEG besides the owner
- Digital accounting in place
Value drivers
- Several persons certified under Section 26a WEG
- Appointments with well over 18 months remaining
- Clean annual statements with no backlog
Value reducers
- Owner as the only contact for the advisory councils
- Property files still mostly on paper
- Many very small owners' associations below 10 units
How you can tell we know your business
Three facts you can quote
- 01There are 31,279 property management companies in Germany, 59.3% of them micro-enterprises (Listflix 09/2026).
- 029.28 million apartments belong to an owners' association, 21.5% of all apartments (Census 2022).
- 0377% of management companies want to automate internal processes (VDIV industry barometer 2026).
Market range, third-party source
What comparable companies trade at in the market
| Size class | EBITDA multiple |
|---|---|
| Micro-cap, revenue below €5m The relevant class for most succession cases in this segment | 3.5x to 5.5x |
| Small-cap, revenue €5m to €50m | 5.0x to 7.0x |
Category business services (B2B). Source: DUB KMU-Multiples Q2/2026. The DUB figures show asking prices and price expectations on a business marketplace. They do not include completed transactions. The range comes from an independent third party and is not an offer from GTP.
From multiple to cash
The multiple gives the enterprise value. What reaches your account depends on four items:
- Net financial debt
- Loans, leases and shareholder accounts are deducted, cash is added.
- Working capital
- We assume a normal level. An account emptied before the sale reduces the price.
- Investment backlog
- Vehicles, measuring equipment and software due in the next two years are deducted from the price.
- Payment structure
- Part of the price is paid only after signing, through a rollover or a performance-based component.
What lowers the value
If one of these points applies, the value drops:
- The owner personally holds the key customers
- Short remaining terms or contracts that can be terminated at any time
- If a large share of revenue depends on one customer, the price goes down.
- No second management level that runs the business without the owner
We calculate your value in the first call using your numbers. We go through the four items openly with you, even if the result is below your expectations.
All market data and the regulatory timeline for real-estate-related services
Frequently asked questions
What owners in this segment ask
Do the owners' associations have to approve the sale?
In a share deal, no. The GmbH remains the manager, and the appointments continue. In an asset deal, every owners' association would have to reappoint. That is why we buy the shares in the GmbH.
How is the price per unit calculated?
Buyers pay €300 to €800 per WEG unit and €200 to €500 per rental unit (Venture Advisory Partners 2025). The range depends on fees, remaining terms and team depth. We calculate using both the units and EBITDA.
What about removal under the WEG reform?
Since 2020, every owners' association can remove the manager at any time. We cover this risk with an earn-out component and in return waive a flat price discount. You benefit if the mandates stay.
How long do I stay?
6 to 24 months as interim managing director, then advisory board or exit. Rollover of up to 25% possible.
Real-estate-related services
More segments in this area
Sell a rental management company
Condominium unit and rental management as an addition to a WEG core.
Sell a real estate accounting companyService providers that handle billing and bookkeeping for other managers.
Sell a technical property management companyTeams that manage maintenance, tendering and GEG measures for owners.
Sell a property management company (commercial)Management of office, retail and logistics properties for institutional owners.
Sell a facility services companyFacility-related services with recurring contracts with management companies and owners.
Why we buy this segment
A management company lives on the trust of advisory councils, owners and tenants in your team. That is why we talk about your people first and the price second.
I am responsible for the purchase agreement and the handover. In a share deal, your appointments remain in place, and no owners' association has to pass a new resolution. We clarify this before the offer.
For M&A advisors, tax advisors and succession advisors
Response on your client usually within 72 hours
Acquisition profile, teaser metrics and our commitments for all 24 segments are on a separate page. We only approach your client through you.
First step
Talk to a buyer who knows your segment
A 30-minute call is enough to know whether we fit. Afterwards you get a written assessment with reasons.
Request a confidential first call
Or call us: +49 40 89741812
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