Maintenance or Modernization ?

Low property rate and non-informed tenants

After Switzerland, Germany is the country with the lowest property rate with 53 percent in Europe, far behind countries like Sweden, Belgium and even France. As a result, the percentage of tenants is quite high making it increasingly difficult to find an affordable apartment, which also increases the power of landlords to negotiate with tenants.

Maintenance or modernisation

In many cases, the difference between maintenance and modernisation is minimal. For example, in the event of leaking windows, the landlord has two options. On the one hand, the leak can be resealed with a rubber seal, which would then be a maintenance measure, but on the other hand, the house owner can install new functional windows, which would be considered as modernisation. The landlord is not prescribed which actions to take, because it is only specified that a landlord has to maintain the condition of the apartment.

Source: www.anlegen-in-immobilien.de                             Picture: www.pixabay.com