Maintenance/Modernization/Neighborhood Development/New Construction

The quality of our portfolio plays a particularly large role in achieving the economic goal of “increasing our company’s value.” Accordingly, we deal with it intensively in our daily business. Portfolio quality has two facets for us: First, it is important that our properties are in good structural condition; and second, we want to promote the income and value of our portfolio through new construction and holistic neighborhood development projects, as well as acquisitions and sales.

We use modernization and measures to make ongoing investments in our portfolio. As a leading residential real estate company, we have considerable opportunities open to us when it comes to using standardized procedures and materials to achieve economies of scale in our investment activities. Wherever it is appropriate and technically feasible, we try to use standard products for our maintenance and . The volumes we can generate as a result enable us to agree on special conditions with our suppliers, allowing us to either receive higher-quality goods for the same price, or to purchase the material to be used at a lower price. The fact that the construction work is executed exclusively by our technical service also allows us (thanks to the large number of recurring orders) to shape the service processes in such a way that the necessary measures can be performed with shorter construction times and optimum resource use. This saves additional costs or increases revenue because apartments can be relet more quickly.

Maintenance
Maintenance covers the measures that are necessary to ensure that the property can continue to be used as intended over its useful life and that eliminate structural and other defects caused by wear and tear, age and weathering effects.
Modernization Measures
Modernization measures are long-term and sustainable value-enhancing investments in housing and building stocks. Energy-efficient refurbishments generally involve improvements to the building shell and communal areas as well as the heat and electricity supply systems. Typical examples are the installation of heating systems, the renovation of balconies and the retrofitting of prefabricated balconies as well as the implementation of energy-saving projects, such as the installation of double-glazed windows and heat insulation, e.g., facade insulation, insulation of the top story ceilings and basement ceilings. In addition to modernization of the apartment electrics, the refurbishment work upgrades the apartments, typically through the installation of modern and/or handicapped-accessible bathrooms, the installation of new doors and the laying of high-quality and non-slip flooring. Where required, the floor plans are altered to meet changed housing needs.