Rent index 2024: Calculation of the usual local rent based on the location, size and condition of the property

Rent index 2024: Calculation of the usual local rent based on the location, size and condition of the property

According to a report from www.solinger-tageblatt.de, the city of Solingen has created a new qualified rent index that will come into force from January 1, 2024. The rent index is based on an extensive statistical basis and takes into account various factors such as the size of the apartment, the year the property was built, the residential location, the furnishings and the condition of the apartment. The aim of the rent index is to give everyone the opportunity to calculate the local and appropriate rent for an apartment.

Solingen rents are currently between 3.20 euros and 14.80 euros per square meter, while the estimated local rental price is between 3.84 and 11.97 euros. The criteria in the rent index are expressed in the form of amounts that are either added to or deducted from the base value for the estimated rent. The year the property was built plays a role, with older properties tending to have cheaper rents than newer ones.

The size of the apartment also influences the price per square meter, with small apartments costing more per square meter than large ones. The residential location is another factor that determines the amount of rent. Rents are particularly high in Gräfrath, while lower rents are required in other districts such as Merscheid or Mitte. Various features such as the bathroom equipment, the floor covering, the kitchen or the window fittings also influence the rent.

The rent index enables tenants, landlords and interested parties to calculate an average for a typical local rent. However, it should be taken into account that the estimated local rents can deviate slightly from the average values, which is referred to as the rental price range. These deviations depend on factors that could not be statistically recorded.

The new rent index in Solingen serves as a guide and creates transparency in the real estate market. It is binding for apartments measuring between 20 and 170 square meters, while furnished living spaces, one- or two-family houses, semi-detached houses, single rooms, private sublets, rent-free living space and official or company apartments are not taken into account.

The introduction of the rent index can have an impact on the Solingen real estate market. Tenants can get a better estimate of rental prices and landlords have clear guidelines to set reasonable rents. This can lead to a more stable market situation as rental prices are more transparent and understandable. Higher demand for apartments in affordable districts such as Merscheid or Mitte could cause rents in these areas to rise. In contrast, rents in Gräfrath or other more expensive parts of the city could remain stable or even fall because tenants have a better negotiating position.

The new rent index thus provides a basis for fair rental prices in Solingen and contributes to the stability of the real estate market.

Source:
According to a report from www.solinger-tageblatt.de,