Otto V spent many years in Prague, at the court of his maternal uncle King Ottokar II of Bohemia.
As regent, Otto V had to deal with the machinations of Ottokar's widow Kunigunda of Slavonia and with factions of powerful noblemen.
Bohemian chroniclers describe Otto's persistent rigour and that Wenceslaus was forced to give up his claims on Upper Lusatia before he could start reigning himself.
Otto V also persistently defended his claims on Pomerania against Polish counter-claims.
He married with Judith of Henneberg-Coburg, a daughter of Count Herman I of Henneberg.