Press release

2014 Survey: German tenants are selective in their search for homes

Hamburg (15 April 2014) - Germany's tenants are quite picky when it comes to choosing their new home. They like to live in the middle of things, but also in a green setting. 52 percent said good infrastructure with nearby access to shopping, schools, kindergartens and hospitals was very important. At the same time, however, 49 percent are very concerned about living in a quiet environment with little traffic noise. These are the findings of a representative population study jointly conducted by TAG Immobilien AG and the Technical University of Darmstadt. It involved interviewing 1,000 tenants in Germany.

"The results of the study are of particular interest for areas with declining populations and accordingly high vacancy rates. In the debate about the housing shortage in big cities, these regions are often completely ignored," says real estate expert Professor Dirk Schiereck of the TU Darmstadt. "Tenants here aren't desperate for living space, but are in fact very demanding in their search for a new home, as our survey shows. Tenants regard a modern layout or balconies as conveniences, but elderly-friendly facilities in an apartment are also an especially convincing argument."

From a tenant's perspective, the perfect flat is centrally located with good shopping options, close to bus and train connections, but in a quiet street with doorstep parking and green space in the immediate vicinity. Amazingly however, the reputation of a residential area, as well as additional services offered by the landlord, play a relatively minor role.

From the perspective of tenants another decisive factor in the search for a new home is an easily reachable owner who takes their concerns seriously, and among other things maintains the flat better and sorts out problems quickly. "This means that owners can score high marks with tenants especially in the less sought-after locations," says Claudia Hoyer, the TAG Executive Board member responsible for property management. "Landlord services must not slacken off once tenants have moved into their new home."

The findings show that there is still some catching up to be done here. Although 20 percent of tenants rated their landlord service as deserving of a 1, or 'excellent', nearly one in four respondents gave their landlord a score of 4 or worse. TAG typifies one example of good practice by operating tenant offices at its respective locations to specifically address the needs of the tenants. "They serve as a point of contact when there are problems in the flats or buildings. The staff acts quickly to solve the tenants' problems, without a lot of red tape. Tenants also have the option of learning about current vacancies if the size of their flat is no longer satisfactory. This direct contact allows us to ensure a good service," says Hoyer.

About TAG Immobilien AG
TAG Immobilien AG an MDAX-listed company with a more than 125-year history. Its primary locations are in the Greater Hamburg and Berlin areas, the Salzgitter region, as well as Thuringia / Saxony and North Rhine-Westphalia. TAG currently manages about 74,000 dwellings and the associated commercial areas, garages and parking spaces. The company's goal is to improve the quality of housing for its tenants. In line with this, TAG adapts its holdings to modern living needs to, gets involved in the communities of its residential quarters, and promotes a good neighbourhood spirit. The Group continually reduces vacancy and increasing the value of its total portfolio through prudent management of its properties and a future-oriented/forward-looking development of its overall portfolio.

Press enquiries:
TAG Immobilien AG
Head of Investor & Public Relations
Dominique Mann
Phone +49 (0) 40 380 32 300
Fax +49 (0) 40 380 32 390
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