“Last resort: sending out the eviction notice”: Germany’s largest real estate group has made it clear that defaulting tenants can be given notice. At least that’s what it says in a report by “Spiegel”, which refers to documents that Vonovia allegedly presented on Tuesday’s investor day. Vonovia has now commented on this and denies the report.
The article in the “Spiegel” says: In the event of a delay in payment, there will be a phased model. If the amount owed by the tenant corresponds to two months’ rent, the contract could be terminated. Vonovia contacts tenants to find out the reasons for non-payment. If the tenant still fails to meet his obligations despite an offer of individual solutions from Vonovia, the Group will send him a formal payment request.
If the arrears added up to the value of two months’ rent, the last step would be an eviction action. After that, the affected apartment can be rented again.
Vonovia has now commented on the report and vehemently contradicts it: “We don’t want people to lose their homes,” says a statement from the group. And further: “If tenants have problems and contact us, we will find a solution. We have supported the moratorium on layoffs from the outset.”
The setting has not been changed. The Capital Markets Day, from which the “Spiegel” quotes, is regularly about explaining the rental market in Germany, which differs greatly from the rental markets in other countries. “Above all, a legal and technical process is described here”.
If the tenants have financial difficulties, Vonovia takes “many steps to find a joint solution with the tenant,” it says. And the company emphasizes: “Termination is the very last step.”
The Bochum group owns around 490,000 apartments in Germany. According to earlier information from the group, around 55 percent of the heating systems in Vonovia’s portfolio are supplied with gas.
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