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pipeslice

Berlin - 10 Year Rental Contracts

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Dear all,

Apologies for the delay in getting back to you all.

To be part of the voting block we all need to have two things in common: an apartment in Rubenstrasse and the letting agent has to be Axium. (I suppose if you have another letting agent for your Rubenstrasse apartment you could email then instead.)

I reckon the annual hausgeld meeting is at the end of this month. Normally Axium give just a days notice of the meeting. So my plan is we all email on approximately the same day before the meeting.

To give everybody time to revisit t

his website I propose we email axium next Wednesday 20 June or Thursday 21 June.

What I would like to achieve is a reduction in hausgeld by at least 40E. This would take monthly hausgeld down to approx 200E. At this time I do not think it is feasible to get hausgeld down any further.

So my email to axium will contain instructions not to vote for any increase in hausgeld and to target various unspecified costs which will mean hausgeld is reduced to approx 200E.

I am not sure how you all feel about this…so feedback would be much appreciated.

Axium details are as follows:

Steffen.Adebahr

@

axium.de

Use your initiatiative on how to construct his email address.

I will be back on this website againat the weekend to see the feedback.

Keith

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Hi Keith,

Am so pleased to see your fighting spirit has not been broken.

We too are in Rubenstrabbe but are with C o Berlin. Our current hausgeld charge is €287 for apt size 71m2.

We were happy enough with this until we read your previous threads. We're happy with their regular payments at least.....

We dug our heads in the sand for the past 12 months, we couldn't cope with the persistent German letters that we've no way of understanding.

ALL were threatening foreclosure claiming non payment, despite the fact that surplus money (lodged by us naturally) was sittng there all the time!!!!

Anyhow this much has been sorted.

Delighted to hear of stable property prices in Berlin, so relieved that our apartment may not have depreciated all that much after all.

Pippy.

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Well this will be my last entry on this forum. Time has moved on. Even the Agenda no longer exists as it is now a Witherspoons.

I was over in Berlin in August. I met OS and Ax. Hausgeld was explained to me - it turns out that the tenant pays most of it. I should have sussed that myself but every time I read hausgeld I just saw red.

My tenant has been in the property since 1993. And from what I gather no modernisation work has taken place since that date as it is simply not worth it because the tenants rent is locked in to a rent register from the date they move in. The rent register is updated every 2 years and rents are held in check so they actually lag the transcient rental market by a considerable amount. When the tenant moves out it will cost approx 18k E to modernise at todays costs.

So basically what we have all bought are council houses stuck in a 1993 time warp.

I had a good look around Rubenstrasse. Its a nicer area than I remember. I even went for a beer in a local bar.

The most sensible thing I have done in this whole experience is only lock myself into a 5 year fixed rate mortgage. So since the 5 years are nearly up, OS got the bank to rescheduled my big mortgage. He organised for the bank to use my modernisation bond to reduce my small mortgage and I put 4.5k E into the deal to pay it off. The result of all this is I start to run at a small profit from Dec. Yippee!!

In closing, OS is worth his weight in gold. Anybody who does not use him needs their looked at.

Happy property investing guys and gals. Goodbye and good luck.

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Hey all, I know this is a long shot but are any of you still on the forum and still on possession of your Rubensstraße apt’s? It seems things have massively changed and we could make a tidy profit. Let me know if any of you are still out there. 

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16 hours ago, marksmith33 said:

Hey all, I know this is a long shot but are any of you still on the forum and still on possession of your Rubensstraße apt’s? It seems things have massively changed and we could make a tidy profit. Let me know if any of you are still out there. 

I must admit I'd forgotten this forum existed until Mark's message appeared in my inbox this afternoon. I've still got my Berlin apartment, bought all those years ago via MRI. Mine's in Kauschstr. 22. I'd be interested in your new information Mark. I suspect my apartment might now finally be worth more than I paid for it in 2007, but I doubt I'm in profit in any meaningful sense, once the effects of inflation are taken into account, assuming I can even find a buyer. I'd be happy to be proved wrong! Cheers, Jon.

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I think you’ll be pleasantly surprised Jon. Mine has increased substantially, we’re talking 70-80% above what we paid for them - of course MRI overcharged by 20-30% in my opinion, but I will still be well in profit. I consider this payback for having to top up on a monthly basis due to the shortfall between my rent caused by Dr O’s rent reduction and high hausgeld charges but I would strongly advise you contact a realtor and get a quote. They’re quite quick at getting back to you. I’d be interested to hear what yours is valued at. I will keep the forum informed as to the progress of mine, but being superstitious, I don’t want to tempt fate until I sign on the dotted line which should be in the next week or so. Let me know if you contact anyone for a valuation to see if we both are in the same ballpark. PM me if you like. 

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Well, that does sound encouraging Mark. The last time I got any sort of valuation was in November 2015 when Oleg Schneider indicated that I could achieve 1,400€ per m2 for my tenanted ground floor flat, and 2,000€ per m2  if it were untenanted. I paid about 1,680€ per m2, so yes around 30% over the odds. Maybe it's time to get a fresh valuation. Are you willing to share the price per m2 that you're expecting? If you can recommend a realtor that would also be of interest. Can I ask if your apartment is tenanted? I'm happy to continue the conversation in public, in case it might be of use to others, but will to move to PM if that's your preference. Many thanks, Jon.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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