A residential real estate company at the heart of society, a home for our tenants – that’s Vonovia. The company’s roots and those of its predecessor companies extend back into the 19th century and lie in not-for-profit housing and housing for factory workers in Germany’s Ruhr region. Vonovia now manages a portfolio of around 548,400 apartments in almost all of Germany’s attractive cities and regions as well as in Austria and Sweden. It also manages around 70,600 residential units. With a portfolio valued at around €91.2 billion, Vonovia is Europe’s leading private real estate company.
Consequently, Vonovia sees itself as having a special responsibility – towards its shareholders but first and foremost towards its tenants and society. Social considerations are therefore particularly relevant to corporate decisions. As a stable company, Vonovia is helping to provide answers to the current immense challenges on the housing market. The company is committed to more climate protection, more senior-friendly apartments and a positive community spirit in its neighborhoods. Vonovia is also helping to address a social issue that is particularly important at the moment: the construction of new apartments.
Providing tenants with affordable, attractive and livable homes is what drives our employees each and every day – whether they work in administration, customer service, or on site as caretakers or in the technical service or residential environment organization.
Vonovia is investing in its portfolio
Comparing Vonovia’s average rents is only of limited informational value. This would involve comparing different portfolios that, by their very nature, cannot be compared. Our portfolio is constantly changing as the result of acquisitions, sales and new construction, among other things.
Since 2015, Vonovia has thoroughly refurbished many of the apartments that became vacant when there was a change of tenant. These efforts focus primarily on modernization measures to make apartments accessible, but heating units and windows are also being replaced. As a result, the apartments offer a much higher standard of living after being refurbished.
On average, we spend 25,000 to 30,000 euros on each apartment. Maintenance measures, the costs of which are covered by Vonovia in full, account for a reasonable part of this expenditure. In 2022, Vonovia will have increased investment in
maintenance by nearly 14 percent compared to 2021.
Our hardship case management team also takes care of tenants who are having difficulties making payment. Since its introduction in 2018, we have been able to help with more than 4,400 cases (including the regulation for over-70s).