The Federal Association for Property Monetisation e. V. (BVIV) is systematically advancing the establishment of uniform industry standards. Following the introduction of a legally reviewed standard contract for property part-sales at the beginning of the year, which served as a basis for greater transparency and consistent quality benchmarks, the planned expansion of these standards is now underway.
By the end of the year, the already developed information and consumer protection principles are to be applied to all property monetisation models represented within the BVIV. This step creates, for the first time, an association-wide coherent framework for transparency and the provision of consistent consumer information across various monetisation models. This enables consumers to make well-founded comparisons of the diverse offerings.
Expansion and Standardisation of Standards
Thomas Weiss, a board member of the BVIV, stated that property monetisation today encompasses a variety of different models with specific characteristics. The aim is to provide consumers, regardless of the chosen model, with understandable information, comprehensible contract documents, and a reliable basis for decision-making. This objective is pursued in cooperation with member companies.
The standards developed for property part-sales will be successively applied to further monetisation models in the coming months. This includes standardised product information sheets, model-specific consumer information, uniform consultation documents, and standardised suitability assessments, provided that the consultation is conducted directly by a member company. For monetisation models with ongoing usage fees, such as property part-sales or sales against hereditary building rights, the introduction of standardised cost statements will also be established. A corresponding template for property part-sales is already accessible on the BVIV website. For other monetisation models, the transparent presentation of economic effects will be provided in a product-specific customised format.
- —Standardised product information sheets for all models.
- —Uniform consultation documents to ensure consistent information.
- —Standardised suitability assessments for direct consultation by member companies.
- —Introduction of cost statements for models with ongoing usage fees.
The full implementation of all information and quality standards for all property monetisation models represented in the BVIV is planned by the end of 2026. This expansion of industry standards addresses aspects that have been intensely discussed by politicians, academics, and consumer protection agencies in recent years. Already today, the industry standards of member companies include the early provision of contract documents, transparent information on rights and obligations, references to alternative monetisation models, and standardised consultation processes.
The suitability assessment represents another core component. It is intended, as part of the consultation by the respective member company, to help identify the individually suitable monetisation model for the personal and economic situation in agreement with the interested parties. A template for the suitability assessment in the property part-sale segment was recently published on the BVIV website. Christoph Sedlmeier, also a board member of the BVIV, emphasised that consumer protection does not end with the conclusion of a contract but begins with comprehensible advice and an informed decision. Therefore, the quality standards are continuously being developed further.
Future Strategic Direction
The further development of industry standards is taking place at a time when the regulatory discussion surrounding property part-sales has undergone a noticeable change. After earlier consumer protection notices from the Federal Financial Supervisory Authority (BaFin) are no longer part of its website, the BVIV is focusing on uniform quality standards for all property monetisation. This serves as an incentive for the association to consistently continue on its chosen path and work together with member companies on transparent and practical solutions for consumers.
