Cheap rent with a catch: properties in need of renovation in Regensburg

Cheap rent with a catch: properties in need of renovation in Regensburg

The city of Regensburg is breaking new ground to offer affordable housing. In a pilot project, the city's construction subsidiary, Stadtbau Regensburg, is offering a mid-terrace and corner house with seven rooms on three floors and 150 square meters of living space at a reasonable rental price of 1,200 euros per month. However, potential tenants must rent the houses that are in dire need of renovation together and renovate them at their own expense.

Managing director Götz Keßler is convinced that tenants with good craftsmanship are prepared to invest time, work and money in the renovation. The renovation costs are estimated at up to 250,000 euros, depending on how much the tenants do themselves. In addition to the renovation, tenants also have to pay for the installation of heating and plumbing systems as well as the roof.

In contrast to Stadtbau, which renovates and rents out the houses for around 3,000 euros per month, tenants in the pilot project receive a comparatively low rent. Every single room needs to be renovated from the ground up, which requires a comprehensive renovation. Despite the initial investment opportunities, the rental agreement should specify how costs will be dealt with when a tenant moves out.

The pilot test attracted a lot of interest as 25 potential interested parties have already registered. Families with several children and low incomes are particularly interested in the offer. If the project is successful, Stadtbau plans to offer similar properties in the coming years.