Deutsche Wohnen SE: Our promise to our tenants
DGAP-News: Deutsche Wohnen SE / Key word(s): Miscellaneous
Our promise to our tenants
Michael Zahn, Chief Executive Officer of Deutsche Wohnen SE, says: 'with our voluntary pledge we set a signal. An apartment is and remains a special asset. We want to improve the situation on the German residential market and will take our tenants' individual capacities more into account in future. Tenants who really need support must be in the center of rent regulation concepts. Generalized and very far-reaching key points, as presented by the Berlin Senate in mid-June, are completely counterproductive in the long-term. The complete freezing of rents would suffocate the Berlin real estate market for new construction and necessary investments - because a rental cap is equal to an investment cap.'
The pledge is the cornerstone of a new rental policy with which Deutsche Wohnen significantly exceeds the legal requirements. It comes into force on 1 July 2019 and is initially valid for five years. The regulations relate exclusively to future rent increases, so they are not retroactive and have no impact on existing rent levels. In future, tenants of Deutsche Wohnen may report a case of hardship in the event of a rent increase request, and upon presentation of the corresponding proof of income, the rent increase will be limited in accordance with the regulation.
Analogous to the agreements between the state of Berlin and its own housing companies, Deutsche Wohnen is thus contributing to a moderate rent development while at the same time preserving much-needed investment power.
Deutsche Wohnen is also committed to doubling its involvement in social and charitable projects. In the future, the company will provide EUR 6 million a year to help people in need, promote sports, children and youth projects, and provide housing space for social projects.
Deutsche Wohnen has recorded its new voluntary commitment in the statement "Our promise to our tenants". It can be viewed in full on the company's website: https://www.deutsche-wohnen.com/fileadmin/images/ueber-uns/Presse/Deutsche_Wohnen_SE-Our_promise_to_our_tenants.pdf. The tenants of Deutsche Wohnen will be informed nationwide about the voluntary commitment in the coming days.
Deutsche Wohnen is one of the leading publicly listed property companies in Germany and Europe with a business focus on managing and developing its portfolio, which consists mainly of residential properties. As at 31 March 2019, the portfolio comprised 167,119 units in total, of which 164,416 were residential and 2,703 commercial. The company is listed in the Deutsche Börse's MDAX and is also included in the leading indices EPRA/NAREIT, STOXX(R) Europe 600 and GPR 250.
Phone +49 (0)30 897 86-5413
Fax +49 (0)30 897 86-5419
|Company:||Deutsche Wohnen SE|
|Mecklenburgische Straße 57|
|Phone:||+49 (0)30 89786-5413|
|Fax:||+49 (0)30 89786-5419|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||829825|
|End of News||DGAP News Service|