As Germany’s largest real estate company we are involved in a wide range of relationships with various stakeholders. Our success essentially depends on how well our business processes are adapted to the needs of these stakeholders. Our dialogue with them helps us to address their expectations, recognize potential room for improvement and convert this into specific measures.
But sustainability is also about striking a balance between the interests of Vonovia’s various stakeholders in the long term. We are engaged in a regular and mutual exchange with our stakeholders in order to achieve this. In particular, they include customers, employees, investors and analysts as well as policymakers at the municipal, state and federal levels. Additional interest groups are tenants’ associations, suppliers and service providers, the media and non-governmental organizations (NGOs). The interaction results from day-to-day issues that link us to the respective stakeholders. The stakeholder groups have different interests with regard to our company and exert influence on our company.
The interests and wishes that stakeholders call to our attention are manifold. However, our business approach largely ensures that all our stakeholders benefit from it since it combines essential economic, social and environmental expectations:
Our customers expect from us the uncomplicated and service-oriented resolution of all questions and tasks involving their housing. Important issues for them are good availability, responsiveness and a local presence. We want to satisfy these expectations through the good coordination of our central customer service with our own local employees.
Fair dealings in tenant matters as well as the quick and constructive identification of solutions in case of conflicts are important to tenants’ associations and initiatives. We maintain close contact with local tenants’ associations. We conduct tenant assemblies and, if necessary, are ready to respond to questions from tenant advocates on a short-term basis.
Our employees would like an attractive employer, who challenges and promotes them, with an interesting task profile and a reliable work environment. With our broad business approach, our employees find numerous opportunities for professional and personal development in an industry offering future security. We prefer to promote executives from within. In addition, active health management and possibilities for combining career and family life make us interesting to our employees as a long-term employer.
It is important to our investors and analysts that we successfully implement our business model, which is oriented toward stable growth and a reliable yield, and report on it transparently. We pursue our goals very actively with a broad-based strategy. In recent years, we were able to increase the earnings power of our portfolio significantly through our property management, our portfolio management and the expansion of our Extension activities. In addition to our core business, we also regularly review acquisition opportunities.
Policymakers would like us to work with them on issues of neighborhood and urban development and participate as a major market partner in the solution of socially relevant matters such as the rising demand for housing, demographic change or climate change. For this, we engage in regular and comprehensive discussions with political representatives and associations at the municipal, regional and federal levels. We conduct non-partisan discussions with representatives and participate as an opinion leader in forums and events on real estate matters. We also initiate projects of social relevance, such as projects for neighborhood development, projects for the inclusion of migrants or our measures to build new housing.
Our suppliers and service providers expect from us a business relationship conducted on a partnership basis, in which the interests of both sides are adequately taken into account. We are involved in numerous business relationships in commercial, trade and other industry-related areas. We are bound together by the common interest to deliver very good services for Vonovia, our customers and other partners.
The media expect from us the readiness to communicate and an open communication policy – also regarding matters that in certain circumstances may be unpleasant for our company. We conduct comprehensive public relations and strive to provide information even on short notice. In order to prioritize our communication properly, we continually inform ourselves about issues that influence our environment.
NGOs and the public sphere would appreciate our economic and operating participation in social issues. As a corporate citizen, Vonovia is directly involved in municipal life since our day-to-day life affects the day-to-day lives of the neighborhood community and vice versa. Accordingly, we cooperate with numerous organizations such as welfare associations or church institutions. We participate in school projects, maintain playgrounds and support sports clubs and social institutions through our three foundations. In addition, we involve public organizations in the development of new services.
It is important to Vonovia to take into account sustainability aspects along our value chain and in our company’s decisions. Vonovia wants to convey this to employees, customers, shareholders, business partners and our stakeholder groups in society in its Sustainability Report.