Stuttgart/Berlin, Germany, September 16, 2026. According to the industry barometer recently published by the German Association of Property Managers, VDIC, more than 62 percent of real estate management companies are overstretched.i The shortage of skilled workers, economic pressure and numerous individual solutions make the already complex day-to-day administration more difficult. With walter, a startup company, which addresses these bottlenecks, enters the market. The AI employee bundles administrative and operational tasks of property managers in one application and helps companies to more efficiently use their resources. walter takes on phone calls, answers tenant inquiries, prepares utility and service charge statements, and monitors contract compliance and adherence to deadlines. What walter produces is checked and approved by the property manager. It is the first startup based on the build-first approach of The Bau Ventures, an early-stage investor for startups, and the planning and consulting company Drees & Sommer. walter makes its official debut on the market at the German Property Managers’ Day in Berlin on 17 and 18 September.
At the beginning of the year, Drees & Sommer announced its intention to group its startup activities into The Bau Ventures. The market introduction of walter represents another milestone for the company. This is the first time that The Bau Ventures has used this approach to develop a business idea – from identification of a market problem, through the concept phase, to the foundation of an independent startup enterprise. Thomas Häusser, a Partner at Drees & Sommer SE, commented: “An enduring transformation of the real estate market requires scalable solutions that take effect quickly and reduce the burden on the sector on a sustained basis. walter tackles key property management bottlenecks. It has developed into a marketable business model within a very short time.” The new startup was developed with the experts from Drees & Sommer, tested on the market at an early stage, and tailored to the industry’s needs.
AI Coworker instead of Administration Software
Property management is among the sectors with a high shortage of skilled staff.ii “At the same time, the workload for communication, documentation and administration of properties is growing. Delays and renovation backlogs are common, and employees are overstretched. “Many administrative processes are still carried out manually and only partly digitalized: invoices are typed, questions from tenants are individually answered, and account statements are being prepared late into the evening. Solutions developed in isolation also make it hard to maintain an overview. This is why we have developed walter, our AI staff member, who carries out a large portion of the routine tasks and facilitates the collaboration between tenants, craftspersons and administration,” explained Christoph Wend-Erdel, Managing Director at walter.
The AI-driven assistant stores all information in a central application and manages entire work processes autonomously. However, the system is configured so that what walter produces is approved by a real person. The experienced founder said: “With walter, property managers not only work with an administration software, but are supported by a new AI coworker.”
From Phone Inquiries to Marketing Services
The range of tasks carried out by walter spans from inbound phone calls and document management to communication with tenants, property accounting, utility and service charge statements to coordination of service providers and marketing of properties. The AI employee efficiently handles time-consuming and recurring daily work, which ties up many resources. How the AI coworker works in a routine situation is illustrated by a typical case: if a tenant reports a heating problem, walter registers the request, finds the relevant property, notifies the responsible contact person, and arranges an appointment with the relevant repair company. All parties involved keep track via web, mobile or desktop application: they see the current status of cases, submit documents and immediately find the right contact person.
“More properties should not automatically mean more work. walter is intended to enable property management companies to expand their portfolios, focus on portfolio optimization or other value-creating activities, without increasing their administrative costs in proportion. If the team spends less time reading emails, preparing documents and answering recurring inquiries, there is more time left for people and buildings. This is what really matters,” commented Alexander Assimidis, Director of Technology at walter. A market analysis and discussions with pilot customers have shown that there is demand.
The build-first application of The Bau Ventures is highly practical: it enables users to develop business ideas together with market players, test them at an early stage, and optimize them thanks to direct feedback. Drees & Sommer is supporting walter with capital, industry expertise and access to projects and customers.
The official market launch of walter takes place at the German property managers’ conference in Berlin on 17 September.
For further details, please visit: www.hallowalter.com
i, ii: VDIV Sector barometer 2026: property managers are increasingly overstretched.