Glossary -- Österreichischer Verband gemeinnütziger Bauvereinigungen (M - Z)

This is a translation of the German glossary which can be found at https://www.gbv-aktuell.at/abc

The first part of this glossary (A - K) can be found here.

German	English	Description
​Maklerprovision	Brokerage fee	A brokerage fee is the amount that a real estate agent receives in return for brokering a property. It cannot exceed two months' worth of rent (incl. utility costs,) for rental properties that are let for more than three years. The Austrian Limited-Profit Housing Associations (gemeinnützige Bauvereinigungen, abbr. GBV) rarely use the services of a real estate agent to rent out their apartments.
Mediation in der Miet- und Wohnungseigentumsverwaltung	Housing and community mediation (GB) (US) (CA) Community and neighbourhood dispute mediation (AU)	Housing and community mediation is a service that helps settle disputes between neighbours or between landlords and tenants without involving lawsuits and court.
Muskelhypothek	Muscle mortgage	A muscle mortgage is defined as home improvements you can do yourself, without employing professionals, e.g. painting or tiling. The purpose of this is to reduce the construction costs of a property.
​Nachverdichtung	Redensification	Redensification makes already existing areas within residential zones usable, by closing gaps between buildings. Underused or poorly used areas are converted without the news for any additional soil. Already existing structures like disposal infrastructure (for example water, sewage or district heating), schools and shopping facilities can be used.
Niedrigstenergiegebäude	Nearly zero energy building	From 1 January 2021, the building standard “nearly zero energy building” must be applied for new construction. The near-zero or very low energy demand is covered to a very significant extent by energy from renewable sources – including energy from sources generated on site or nearby. You can find more information here: Guideline 6 section 4 of the Austrian Institute of Construction Engineering (Österreichisches Institut für Bautechnik, abbr. OIB).
Nutzfläche	Usable floor space	In the Limited-Profit Housing Act (Wohnungsgemeinnützigkeitsgesetz, abbr. WGG), usable floor space can be used as a basis for apportioning the total cost of a building. Floor under sloping walls and roof slopes are part of the total floor size. Niches, wallopenings, stairs, open balconies, terraces, cellars and parking spaces are not relevant.
Objektsicherheitsprüfung ÖNORM B1300	Object Safety Inspection Austrian Standard ÖNORM B1300	Owners of residential buildings are obliged to check the safety of their building at appropriate intervals, using ÖNORM B1300 as a non-binding, practice-oriented recommendation and orientation guide. To comply with duty to implement safety precautions and maintenance obligations, a house owner (or property manager) will also regularly carry out an object safety inspection or commission a company to do so.
Paketverkauf	Block sale	A block sale refers to the supervised sale, overseen by the provincial government, of more than three properties to a single individual. It does not matter if those are flats, terraced houses, detached and semi-detached houses or business premises. It does not apply to parking spaces.
Parifizierung	Value calculation	A value calculation is the determination of the utility value in property ownership. The utility value is determined by the usable floor space and other parameters such as the purpose of the unit (e.g. apartment or business premises), floor location, balconies, terraces etc. It thus indicates the ratio of the ownership shares of a unit compared to all of the other units of a property.
Quadratmeter	Square metre	The usable area of an apartment or other premises is expressed in square metres. The usable area is the floor area of the rental property minus the walls and all openings in the walls. Cellar compartments, balconies and terraces are not included in the calculation; loggias, however, are included.
Raumordnung	Spatial planning	Spatial planning is planning regarding the use of space and the spatial development of an area. Different demands on the space such as economy, transport, or nature conservation must be coordinated, potential problems regarding the planning must be resolved, and long-term development options must be kept open.
Reconstructing	Reconstruction	Reconstruction signifies the replacement of an old building with a new one. The old building will be demolished only after a new home for the residents has been found.
Regierungskommissär	Government commissioner	If there is a substantial danger to compliance with the provisions of the Limited-Profit Housing Act (Wohnungsgemeinnützigkeitsgesetz, abbr. WGG) or if the asset commitment needs to be secured, the provincial government may appoint a government commissioner. The government commissioner is entitled to inspect all business documents, to audit the management and the financial statements or to participate in meetings with the right to speak.
Revision	Audit	The Austrian Limited-Profit Housing Associations (gemeinnützige Bauvereinigungen, abbr. GBV) are part of an auditing association, which means that the annual accounts and bookkeeping are audited each year. In addition, it is checked whether everything is being complied with in accordance with the Limited-Profit Housing Act (Wohnungsgemeinnützigkeitsgesetz, abbr. WGG).
Sanierung größeren Umfangs	Large-scale renovations	Large-scale renovations occur when preservation and/or improvement measures are carried out. After completion of this work, the general parts of the building and at least half of the apartments meet the requirements of standard equipment. Large-scale renovations are expensive and include significant technical changes that go beyond ongoing maintenance. It equates larger scale renovation with the construction of housing.
Schlichtungsstelle	Arbitration committee (GB) for housing matters Arbitration board (US) (AU) for housing matters	Arbitration committees are institutions who try to reach an out-of-court settlement of the legal matter between the parties involved. If there is no amicable settlement, a binding decision will be reached. If one of the parties does not accept the decision, it can appeal to the court within four weeks. The court proceedings of the arbitration boards are free of charge.
Smart Meter	Smart Meter	"Smart Meter" are intelligent gas, water or electricity meters that measure data and send the data at certain intervals to the grid operators, who then forward it to the electricity providers.
Stellplatz	Parking space (GB) (US) Parking lot (AU)	A parking space for a motor vehicle is a clearly marked off area, e.g. by parking space markings. It is an area which is suitable for vehicles with two or four tires.
Thermische Sanierung	Thermal renovation	Thermal renovation reduces the energy loss of the building enclosure by insulating its facade and storey ceilings. The Austrian Limited-Profit Housing Associations (gemeinnützige Bauvereinigungen, abbr. GBV) can increase the preservation and improvement fee (Erhaltungs- und Verbesserungsbeitrag, abbr. EVB) for thermal/energetic renovation measures.
Unbefristet	Open-ended tenancy agreement	This type of agreement is not limited in duration. Therefore, the tenant can lease permanently. The landlord can only terminate this agreement if there is a legal ground for termination, e.g. poor behaviour of the tenant or late payment.
Untervermietung	Subleasing	Subleasing is when the tenant re-rents a rental property to a third party via a sublease agreement. However, subleasing is not always permitted. The Austrian Limited-Profit Housing Associations (gemeinnützige Bauvereinigungen, abbr. GBV) can prohibit the sublease of a property for various reasons. Subleasing can also contravene funding regulations.
Verwaltung	Property management	One of the main tasks of the Austrian Limited-Profit Housing Associations (gemeinnützige Bauvereinigungen, abbr. GBV). The property management fulfils tasks that arise around managing rented or owned objects. It is responsible for acquiring properties, fees and transactions, concluding contracts, organising renovations, and customer service.
Verwaltungsvereinigung	Property management association	It is another limited-profit association whose tasks are limited to property management and renovations. But it is also subject to the Limited-Profit Housing Act (Wohnungsgemeinnützigkeitsgesetz, abbr. WGG).
Wartungspflicht des Mieters	Tenant's maintenance obligations	The main tenant or other authorised users of the rental property are obligated to perform maintenance work, to ensure functionality and safety of the property. Some obligations include maintaining the water boiler, bleeding the radiators, maintenance of the floors, checking the heating systems for leaks, and the corresponding notification of leaks etc. to the Austrian Limited-Profit Housing Associations (gemeinnützige Bauvereinigungen, abbr. GBV).
Wohnbauförderung	Housing subsidy	​Through housing subsidies, the Austrian government supports the provision of housing. The subsidies are provided for tenants and owners of single-family houses as well as multi-story buildings.There are nine different systems in total which in principle can be divided into subsidy payments for projects, buildings and facilities as well as subsidy payments for individuals. The subsidy payments for projects, buildings and facilities are more common in Austria and consist of repayable loans at a low interest rate or annuity subsidies.
Wohnhaus-Wiederaufbaufonds	Reconstruction funds (1948-1967)	The aim of the funds was to rebuild residential properties which were destroyed during the Second World War and to restore the recessive housing production. The funds granted interest-free loans, initially for 100 years, later for 75, and 50 years.
Wohnungseigentum	Condominium	Condominium refers to the right to exclusively use and own a specific property, as a co-owner of a property, or as someone in an owner-partnership. A condominium owner is a co-owner of the property who owns residential objects located thereon. Condominium properties are apartments and other separate premises and parking spaces, where condominium ownership was established. More information can be found in the condominium ownership law of 2002 (Wohnungseigentumsgesetz 2002).
Zubehörwohnungseigentum	Condominium-Ownership Law concerning additional objects of the property	​This law authorises the exclusive use of additional objects of the property which are not structurally attached to the property, such as cellars, attic rooms, gardens or storage areas. However, the additional objects need to be fenced and accessible without the utilisation of other residential parts. The ownership-registration of the property can also be applied to its additional objects, provided the additional objects are clearly assigned to the main property in the title of the condominium ownership documents.

Glossary translated by ITAT students Julia Benko, Alessia Gerstgrasser, Johanna Gmeiner-Froschauer, Nina Gödl, Larissa Grünwald, Verena Hirmann, Carina Karnitschnigg, Sabrina Langmann, Christine Lovrenovic, Milica Rajkovic, Christina Steiner and Bettina Zechner

Supervised by Hendrik Bower