Review WEG Bank Statements

Your right to inspect accounts – and what to look for.

Your Right to Inspect

As a property owner, you have a legal right to inspect all WEG documents – including bank statements. This right is based on § 18 (4) WEG. The property manager may not refuse you access.

How to Request Bank Statements

  1. Submit your request in writing (letter or email) to your property manager
  2. Reference § 18 (4) WEG (right of inspection)
  3. Set a reasonable deadline (e.g., 14 days)
  4. Request statements for all WEG accounts for the fiscal year in question
  5. Document your request and the manager's response

What to Look For

  • Do account balances match the annual statement?
  • Are there unknown debits or transfers?
  • Are funds being transferred to accounts not belonging to the WEG?
  • Are payments missing (e.g., maintenance fees from individual owners)?
  • Does the maintenance reserve account match the stated balance?
  • Are there cash withdrawals without a traceable purpose?

Common Irregularities

The following patterns may indicate problems:

  • Transfers to companies owned by or associated with the manager
  • Reserve funds being used for unintended purposes
  • Account balance significantly lower than stated in the annual report
  • Refusal to provide bank statements despite legitimate request
  • Multiple accounts, some of which do not appear in the statement

Next Steps If You Suspect Issues

If you have found irregularities:

  1. Document everything in writing and keep copies
  2. Talk to other owners – do they share your concerns?
  3. Raise the issue at the next owners' meeting
  4. Consider hiring an independent auditor
  5. If embezzlement is suspected: File a criminal complaint with the police or prosecutor's office

Important: A refusal to provide bank statements is already a serious warning sign. No reputable manager has anything to hide.

Report Suspicion

Have you discovered discrepancies in your WEG bank statements? Report it anonymously.

Report Suspicion