New rent index for the city of Chemnitz comes into force
The current "Qualified rent index of the city of Chemnitz" came into force on 1 January 2018.
It contains an overview of the local comparative rent and serves as information for landlords and tenants alike as well as a legal basis for calculating rent and in the event of rental disputes.
The rent index was compiled by the City of Chemnitz (Office for Information Processing) and a working group appointed by the City Council of Chemnitz, which was made up of representatives of the Chemnitz housing industry, Chemnitz tenants and the City of Chemnitz. The Chemnitz district court played an advisory role.
It is a qualified rent index in accordance with the German Civil Code (Bürgerliches Gesetzbuch), which was drawn up in accordance with scientific principles and recognised by representatives of landlord and tenant interests. In order to maintain the rating, it must be adjusted to market developments every two years and revised after four years.
The survey of current rental price data for the Chemnitz housing market was carried out in the form of a combined tenant/landlord survey. To this end, the rents of flats that were newly agreed or changed in the last four years were surveyed as at 30 June 2017. The rent index is based on data from 20,414 flats, which were selected for the survey using a statistical sampling procedure.
The rents stated reflect the net cold rent owed on the survey date, i.e. excluding cold operating costs, heating and hot water costs and other surcharges (e.g. garage, parking space, garden use).
The rent index will be published in the Chemnitz official gazette this week.
The rent index is available free of charge in electronic form HERE.
The rent index is expected to be available in printed form from the end of January 2018. The printed brochure can be purchased from the City of Chemnitz for a fee of 5 euros.