Specific advantages for you

Safety first! In accordance with the law, COA reserves at Aareal Bank are deposited solely in open third-party accounts in the name of the condominium owners’ association, protecting them both from attachment and in the event of insolvency.

These accounts may be operated by the property manager as a body authorised to represent the COA, and with third-party accounts in its own name, the COA is also assured access to the accounts ‒ which is, not least, a trust-building measure.

Thanks to a convenient electronic banking platform, payment transactions with Aareal Bank are efficient and simple, and the account management service is tailored perfectly to the needs of the third-party management company.

All accounts can be consolidated within one account system, and grouping accounts per business area makes it easier to manage both the accounts and the authorised signatories ‒ because all the conditions are stored in the account system. They therefore apply to all accounts linked in this system, provided no explicit exceptions are requested for individual cases.

This service is aimed at reducing formalities and saving time, wherever possible. When you acquire a new management mandate, you need another account, and the fastest way of doing this is to open it electronically. Thanks to the account system contract with Aareal Bank, the contractual conditions are already being met, so opening the account requires nothing more than a short online instruction. The account number notified back to you can be communicated to your client immediately too, because the new account is open for incoming payments on the very same day.
 

The ability to answer your clients’ questions quickly and comprehensively demonstrates your competence as a property manager.

We help you to do this by making all your account movements transparent through daily electronic account information – individually configured and including intra-day movements too.

Virtual account numbers are the perfect identifying feature, enabling specific payment amounts to be assigned clearly to specific contracts, costs types etc., and allowing amounts to be posted automatically in the BK01* procedure.

Interlinking these with subsequent processes ensures the maximum degree of efficiency and quality. The Aareal Account system also allows you to use virtual account numbers to help your account processes interact with your own software.

^{*The described BK01 solutions are products by First Financial Software GmbH, a joint venture of Aareal Bank and Aareon. Aareal Bank AG is an exclusive BK01 account system partner. Prerequisite for the use of BK01 is an account with Aareal Bank AG.}

Circumstances where payment instructions are deferred or returned ‒ e.g. due to insufficient funds in an account ‒ cannot always be avoided. Monitoring these payments and re-submitting the instructions manually is very labour-intensive and takes up valuable time.

Our technology takes over these tasks for you for a period of ten days. Automatically. Nothing is lost, and no manual intervention is necessary.