November 13, 2019 / 6:35 AM / 3 months ago

Deutsche Wohnen makes voluntary moves on affordable housing

BERLIN, Nov 13 (Reuters) - Deutsche Wohnen, the property company whose shares have been hit by a plan by the Berlin city government to freeze rents in the German capital, said on Wednesday it is taking voluntary steps to making more housing affordable.

Deutsche Wohnen, which is the largest private landlord in Berlin, said it had provided 1,222 apartments to tenants who are entitled to social housing, corresponding to 37% of newly let properties since July 1.

The company added it has also dispensed with rental increases for 471 tenants through a “hardship” clause, which seeks to ensure that tenants do not have to spend more than 30% of their annual net household income on rent even after refurbishment and rent indexation.

Reporting by Emma Thomasson; editing by Thomas Seythal

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