Multi-family house Berlin-Prenzlauer Berg
Start of administration
May 2005
Initial situation
- Low net rent in a popular residential area
- High arrears of rent
- Poor apartment quality
- Unbalanced rent structure
- Neglected building facilities and tendencies toward neglect
- Resentment among tenants about inactive property management
Measures
- Terminations and evictions upon agreement with tenants and pursuant to the Berlin Model
- Recording a defect protocol with each tenant and repair of damages, to be paid by the tenant or the owner depending on liability
- Improvement of the housing quality:
Overhauling of gates and windows by carpenters and painters
Replaced doorbell touchpad and apartment doorbells
Replaced building lighting
Replaced mail box system
Improved cleaning services
Revaluation rehabilitation of vacant flats - Performed rent increases
Result
After rehabilitating and reletting of now nearly a third of the apartments, a significantly higher yearly net cold rent (rent without utilities) has been achieved. At the same time, the composition of the tenants is significantly more socially balanced. The improvements to the building facilities contributes to gaining a different tenant clientele as well as social acceptance of the structural change by the current tenants.
