Vonovia offers condominium administration via its wholly-owned subsidiary Vonovia Immobilien-Treuhand GmbH (VIT). The subsidiary operates in six regional teams distributed across 22 office locations throughout Germany. VIT is one of Germany’s biggest property managers. It now also works for external homeowners’ associations in order to manage communal property in line with the German Condominium Act (Wohnungseigentumsgesetz) and offers full property management services for self-contained properties.
As of December 31, 2017, VIT supported 2,170 homeowners’ associations (2016: 2,240) accounting for 72,483 residential and commercial units (2016: 72,247), 16,442 units (2016: 17,208) of which belonged to Vonovia, and also managed 56,041 units for third parties (2016: 55,039).
In addition to these services, Vonovia offers its customers access to nationwide framework agreements with craftsmen and other service providers at special conditions. VIT also offers services relating to technical building evaluation for external owners.