- Observed damage, a possible cause and a contractor's quotation are different kinds of information.
- Measures are organised by technical urgency, dependencies and payment dates.
- Costs must not be counted repeatedly in income, as a special deduction and through condition without justification.
From the broad term 'renovation needs' to a schedule of measures
Start with building components and systems: roof, façade, structural elements, moisture, pipes and cables, heat supply, lift and common areas. For each, document the observation, assessment date, investigating party and scope of investigation. An inspection may raise a suspicion; establishing the cause or condition of concealed components may require further investigation.
Give each measure an identifier. File photographs, assessments and quotations under that identifier and state which assumption remains unresolved. An entry saying 'roof poor' is unusable. Better: recurring water ingress, area documented, cause still to be investigated, short-term protective measures recommended, extent of permanent repair unresolved. This separates facts from cost estimates.
Distinguish maintenance, necessary work and improvements
Classify works technically first, then legally. Where § 3 MRG applies, maintenance obligations exist, including for common parts of the building and certain defects or systems. Their precise scope depends on the individual case. An economically planned modernisation may therefore include work that is necessary regardless of the desired additional income.
Have official orders, safety defects and ongoing faults assessed separately for urgency. Such matters are not ranked solely by the most attractive investment return. Additional improvements to fittings or amenities, by contrast, receive their own statement of purpose. Here too, it must be clarified whether and when expected additional income would be achievable legally and in the market.
Foundations: RIS – Bundeskanzleramt [1]
Bring quotations onto the same scope of work
Compare individual items, not just final totals. Do the quotations include scaffolding, site setup, protective measures, planning, disposal and reinstatement of affected surfaces? Are quantities transparent, price commitments time-limited and excluded services visible? Record whether amounts include or exclude VAT; the economic treatment of VAT must be clarified for the specific property.
Where the existing condition is uncertain, a range is often more honest than an apparent fixed price. Note what creates the range and which investigation could narrow it. Not every historical invoice serves as evidence of today's costs. It can, however, show which component was actually renewed and which part of the supposedly comprehensive renovation remained unfinished at the time.
| Field | Entry | Purpose |
|---|---|---|
| Assessment | Component, damage, date, source | Make the state of knowledge clear |
| Scope | Quantities, trades, exclusions | Make quotations comparable |
| Timing | Urgency, start, duration, dependency | Schedule expenditure and use |
| Costs | Base amount, uncertainty, ancillary costs | Capture total funding needs |
| Financing | Equity, commitment, conditions | Check funding at the payment date |
Consider the construction programme and existing tenancies together
Renewal of vertical service pipes can affect several apartments at once; roof work may sensibly be coordinated with other work. Check access, coordination with tenants, construction phases, interruptions and reinstatement. Legal questions about carrying out the work and possible tenancy consequences are clarified separately. Uninterrupted, unchanged rental receipts during extensive building work are an assumption that needs justification.
Reconcile the planned work with the approved existing building. Vienna's building authority maintains an archive of approved building plans. For planned projects requiring permission, the city specifies additional documents depending on the case, such as building plans, owner consent and structural evidence. Project-specific planning establishes which submission is actually required; a contractor's quotation does not replace this review.
Foundations: Stadt Wien – MA 37 [2] · Stadt Wien – MA 37 [3]
Account for investments once and at the appropriate time
Allocate recurring maintenance to ongoing expenses and give exceptional deferred work an explicitly explained treatment in the model. The particular approach determines how this is implemented. If a known cost is already included as an individual expense, the same matter must not also be deducted in full again through a blanket condition discount without justification.
Prepare a separate payment schedule for the owner. Calculated net income is not the same as freely available cash. Loan repayments, equity requirements and disbursement conditions affect financing, even though they are not all components of a property-specific market value. A possible subsidy becomes a correspondingly reliable financing assumption only after its conditions, approval and payment date have been checked.
Foundations: RIS – Bundeskanzleramt [4]
Fictional cost plan for roof work
A planning example only. The amounts are invented and are not Vienna construction cost benchmarks; all items use the same cost basis assumed for this case.
- The first contractor's quotation is 120,000 euros. Comparing the scope reveals missing scaffolding, assumed at 18,000 euros, and planning, assumed at 12,000 euros. The provisional total rises to 150,000 euros.
- For an unresolved junction detail, a further 0 to 20,000 euros is recorded as an open range following the imagined assessment. An investigation is intended to narrow the scope before commissioning.
- Payments are split according to the assumed construction programme: 30,000 euros at the start, 90,000 euros during the work and 30,000 euros on completion. The possible additional expense remains separately visible.
- The professional valuation checks how this expense and possible construction effects have already been included in the income assumptions or elsewhere in the model.
The relevant question is not merely whether 150,000 euros is available. Completeness, uncertainty, due dates and appropriate treatment in the valuation are decisive.
Your next assessment steps
Record what you have already clarified and which documents you still need.
Current assessments stating the scope of investigation
These show which defects have been identified and which are only suspected.
Where can I obtain the supporting information?
Commission technical specialists specifically to investigate unresolved components.
Comparable specification of works
This prevents price comparisons between different services.
Where can I obtain the supporting information?
Have the planning professional prepare it and align quotations with it.
Approval documents and construction programme
These clarify requirements, dependencies and disruption to use.
Where can I obtain the supporting information?
Bring together the planning documents, building file and property management records.
Financing and payment plan
This shows whether funds are available when due and identifies remaining funding gaps.
Where can I obtain the supporting information?
Compare your own funds with written financing commitments.
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Sources and date
The following sources support this main article. For your specific property, current documents and the applicable conditions matter.
- RIS – BundeskanzleramtTenancy Act § 3: maintenance
- Stadt Wien – MA 37Inspect approved building plans in the building authority's archive
- Stadt Wien – MA 37Documents required for a building permit
- RIS – BundeskanzleramtProperty Valuation Act § 5: income approach
Editorial date: 11/09/2026. Examples explain relationships and do not contain an individually prepared property valuation. Editorial work and sources.
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