The Deutsche Wohnen must Rent due to the rental cap in November, thousands of in the capital reduce. According to the law then existing rents are to be reduced to more than 20 percent above the allowable upper limit. “This is approximately 30 per cent of our tenancies are affected,” said Board member Lars Urbansky on Friday at the annual General meeting.
The Livestream shareholder was marked by the rise of the Vonovia competitors in the German stock Index (Dax) meeting. The German stock exchange in Frankfurt had decided on the eve of Berlin’s largest rental companies in the benchmark index, the record – instead of in crisis Lufthansa. The capital gets 14 years after the Acquisition of Schering by Bayer is again in a Dax-listed company.
the group needs to take back the rents
116 000 of the nationwide 160 000 apartments are located in Berlin. There was entered in February, a rent cover in force. Rent increases from mid-June 2019, the group had to take back, and in the case of new lettings at the upper limits. The reduction of excessive inventory is to rent but only to the 23. November provided.
The company expects this year with a loss of rent of nine million Euro by the law, next year there are 30 million Euro. For comparison: nationwide, the group had in the past year, rental income in the amount of 862 million euros.
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The company was confident that the rent cover will have no inventory. The Union and the FDP in Berlin, have filed a judicial review action before the Federal constitutional court.
In the treaties, a new tenant, a so-called shadow rent is therefore: it is Agreed that according to the Civil code, the achievable rent is required but only the sum permitted by the Rent cap, as Urbansky said. This means: Airs Karlsruhe, rent cover, you need to tenants pay.
Chairman of the Board Michael Zahn stressed the social responsibility of the company was but also the shareholders approved a dividend of 90 cents per share, three cents more than in the previous year. Instead of increasing the participation of the shareholders by five per cent, a relief Fund for tenants in the Corona of a crisis in the amount of 30 million euros had been set up, said the group.
inclusion in the Dax fueled growth strategy
“We take responsibility for employees, tenants and of course our shareholders,” said Tooth. The inclusion in the Dax to confirm the growth strategy. In the booming Metropolitan regions it is going to invest more.
in the face of rising Rents, the German is Living, especially in Berlin in the criticism. Tenant representatives fear that with the rise in the first stock exchange League, the pressure on tenants is on the rise. Especially from the left party’s criticism came on Friday. “This company needs no man,” wrote the party chief Bernd Riexinger on Twitter. The largest single shareholder Blackrock, the largest asset managers in the world. He is involved in all the Dax companies.
shareholder representative Michael Kunert of the protection of investors recalled that the Deutsche Wohnen tens of thousands keeps the apartments that had sold the state of Berlin in 2004. On the return expectations of the investors, not much more to change now. The Dax is a win-win for the state of Berlin.
Deutsche Wohnen, Berlin remains true to
A departure from its most important market plans, the German do not Live. “We are here also in the future continue to have a strong leg to stand on,” said Tooth. In the case of new construction projects, the southern German cities like Munich and Stuttgart are in the view.
fears of the tenants ‘ Association were unfounded, said Tooth. His company is looking to be a solid anchor in difficult times. After Urbanskys information about 1200 apartment tenants, and about 300 commercial tenants with payment difficulties reported. Evictions from apartments it is not give at the moment. After looting in the USA: Apple secret iPhone-function PCP enabled To looting in the USA: Apple has activated a secret iPhone feature
cba/dpa
