Hasan Salihamidžić: Renovation in Frankfurt residential building causes controversy - financial expert clarifies

Hasan Salihamidžić: Renovation in Frankfurt residential building causes controversy - financial expert clarifies

According to a report by www.t-online.de, a tenant defends himself against ex-Bayern star Hasan Salihamidžić, who had a residential building in Frankfurt's Gallus converted. The left in the Römer is calling for a construction stop because the tenants are allegedly living in untenable conditions with constant noise and dirt.

Ex-Bayern star Hasan Salihamidžić purchased a dormitory at Sulzbacher Straße 19 in the Gallus district of Frankfurt in spring 2023. Renovation work began in mid-April last year without notice, prompting a tenant to sue for rent relief. He felt severely affected by the construction work and even had to spend the night at a friend's house because of his asthma.

The tenant currently pays 360 euros rent per month, after the renovation the rent for other rooms in the house will be around 800 euros. The tenant cannot afford this. The tenant's lawyer stated that his client and two other tenants in the house fear being evicted and that the new landlord will convert the rooms into residential apartments.

The managing director of the property management, however, presented the situation differently. According to him, all tenants were informed in advance about the renovation and most of them agreed. They were also offered the opportunity to look for other accommodation by paying a fee or to live on another floor free of charge during the renovation work.

The criticism of the Frankfurt Left in Römer refers to the fact that modernization often leads to unaffordable rent increases and ultimately to displacement. They are also calling for an immediate stop to construction and point out that the conversion into residential apartments requires approval.

Due to this controversy, the real estate industry in Frankfurt could experience increased regulation and monitoring of owners and investors willing to modernize. Tenants could receive more protections and rights in the event of renovation work, which could affect the planning of renovation projects and the calculation of rental costs. In particular, the conversion of rental properties into residential apartments could entail additional approval procedures and regulatory hurdles, which could impact real estate development in the city.