Speyer Building Cooperative: End of WEG administration after 50 years!

Speyer Building Cooperative: End of WEG administration after 50 years!

On July 2, 2025, the Speyer Building Cooperative (GBS) announced crucial news for its members and the homeowners' associations. After more than five decades, the GBS will cease its WEG administration at the end of the year. Board member Oliver Pastor cites increased demands, the acute shortage of skilled workers and economic challenges as the main reasons for this step. Loud Rhine Palatinate 50 years ago, GBS took over its first WEG property at Eugen-Jäger-Straße 55 to 67a in Speyer-West and has since managed 22 additional ownership associations. This means that an important chapter in the history of the building cooperative is coming to an end.

GBS will have terminated all WEG contracts by December 31, 2025. The handover of the managed objects is planned for the next six months. The first handovers have already taken place and the last ones are scheduled to be completed by January 1, 2026. These handovers represent a challenge that the GBS has to overcome, but board member Bernd Reif also sees them as an opportunity to free up resources for subsidized cooperative living. The company informs the ownership associations and management advisory boards of this decision at an early stage in order to ensure a smooth transition Speyer report determines.

Economic conditions and shortage of skilled workers

The shortage of skilled workers is a central problem that also severely affects real estate management. According to that Landlord guide Over 74% of property management companies report that they need more qualified staff. The current economic challenges, which are also clearly noticeable at GBS, have resulted in a historic shortage of qualified workers. This situation has an impact on services and the quality of administration.

The average number of unfilled positions in the real estate industry shows that 57.4% of administrations have vacancies, with 42.1% unable to fill them. A quick survey showed that 85% of the property management companies surveyed were suffering from a lack of staff, which made the situation even worse. The GBS is faced with the challenge of reorienting itself in this tense situation and at the same time meeting the needs of its members.

Outlook and investments

However, the Speyer building cooperative is not only giving up WEG management, but is also planning to build new apartments - particularly on Rabensteinerweg and Conrad-Hist-Straße. GBS has total assets of 83.3 million euros and equity capital of 30.8 million euros. With over 7,300 members, the cooperative would like to invest in the climate-friendly modernization and decarbonization of its portfolio. The board of directors and supervisory board emphasize that the decision to end the WEG administration also represents a strategic realignment in order to focus more on the future of cooperative living and to optimally manage the existing apartments.

With this decision, the Speyer building cooperative draws a line under a chapter of its history and at the same time prepares itself for the challenges of the future. The path is paved for new investments in housing construction and modernization, while always keeping an eye on the needs of its members and current market conditions.