“Last resort: sending out the eviction notice”: Germany’s largest real estate group has now made it clear that defaulting tenants can be terminated. According to the “Spiegel”, this is what it says in documents about an investor day that Vonovia presented on Tuesday.
In the event of a delay in payment, there is 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.
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. The rising gas prices are also reflected in the utility bills for tenants.
During the night there was a pressure drop in the Nord Stream 2 gas pipeline. On Monday evening it will be announced that the pressure in Nord Stream 1 has also dropped. According to the operator, the capacity has unexpectedly dropped to zero.
According to a “Business Insider” report, the federal government is considering making home offices compulsory for civil servants and employees in order to save energy in winter. Objections had come from several ministries. An alternative is to cool the rooms down to 19 degrees.
The Thilmann Brot bakery chain from Rhineland-Palatinate has filed for bankruptcy. However, operations and sales continue. The reason for this is rising costs for energy, raw materials and personnel.
