Success fee for management of the property
The fee for property and co-ownership management is purely performance-based. Accordingly, the fee is X% excl. VAT of real estate income. Real estate income is defined by the net rental income generated over one year less mortgage interest, maintenance, upkeep and operating costs.
The success fee is only eligible if at least 95% of the predicted yield distribution is achieved in the course of a year. Otherwise, crowdhouse provides the annual fee budgeted for real estate asset management as compensation. The difference is deducted from the budgeted annual fee. If the difference is greater than the budgeted amount, the entire fee amount will be paid as compensation
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Each co-owner is responsible for all other expenses associated with acquiring or maintaining his co-ownership in the property itself (in particular, fees of consultants consulted by the investor, fees for attestation of authority, and any bank charges incurred).