Long-term Growth
Objectives, Measures and Indicators
Our goal is to achieve stable company growth based on the long-term further development of our existing properties and service portfolio. We are adopting three core measures to achieve this objective:
- Targeted expansion of our core business, “renting out homes”
- Further development of the portfolio by way of purchases and sales, new construction projects, modernization measures and investments in development
- Expansion of the portfolio of housing-related services
Within this context, customer satisfaction is a non-financial performance indicator that is especially important to Vonovia since our economic success is directly linked to our tenants’ long-term satisfaction levels (see chapter Customer Satisfaction).
Targeted Expansion of Core Business
We aim to offer our customers an affordable home that offers contemporary comforts and meets their needs at a rental price that is on a par with, or even below, the local comparative rent. We are using our corporate strategy to achieve this objective both in Germany and other European countries. Among other things, our strategy provides for investments in new construction and the acquisition of attractive portfolios (see chapter Strategy, AR 2019).
Further Development of the Portfolio
By investing in new construction, vertical expansion and densification measures, and by modernizing buildings and apartments, Vonovia creates attractive new living space and preserves its building stock – i.e., the key elements that make up the company’s value. These measures are rounded off by holistic community development (see chapters Creating Appropriate Living Space and Affordable Rents and Fundamental Information About the Group, AR 2019).
Establishment and Expansion of a Portfolio of Housing-related Services
We aim to provide important services ourselves rather than being dependent on external service providers. We are continuously expanding our service portfolio and tapping into new areas of business. This is allowing us to strengthen the services that we offer ourselves in the following three areas:
Vonovia technical service (VTS)
- Carries out the majority of construction work in our portfolio
- Guarantees secure supply and a high level of service speed
Residential environment organization
- Performs gardening and landscaping work in the portfolio, such as creating new green spaces and playgrounds or creating communicative neighborhood centers outside of the buildings
Caretaker organization
- Supports our tenants on site
- Responds to customer inquiries and requests that cannot be handled on the phone by the central customer service center
In addition, we are expanding our services into the area of energy supply and home automation. You can find out more about the other measures we have put in place in order to grow sustainably in the 2019 Annual Report (see chapters Fundamental Information About the Group, AR 2019 and Report on Economic Position, AR 2019).