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Interest-free rent deferral for urban property tenants

Three-month rent deferral available to tenants of urban property amid corona crisis

Companies and institutions in Hamburg that lease urban property can have their rent deferred interest free for up to three months as part of Hamburg’s protective shield amid the fallout of the corona crisis. Managing directors and board members of public property companies in Hamburg agreed the measure Tuesday (March 17, 2020) with Dr. Andreas Dressel, Senator of Finance. The measure is part of the ten-point programme presented this Thursday (19.3.).

Containing effects of corona

“Our companies commitment to defer payments by (private) tenants of urban property is a first module and others will follow,” said Dressel. Public property companies Sprinkenhof, GMH (Gebäudemanagement Hamburg GmbH), HHLA (Hamburger Hafen und Logistik AG) and LIG (Landesvertrieb Immobilienmanagement und Grundvermögen) had agreed to a deferral of rent with immediate effect.

“We will not leave private companies and institutions or the public companies that make an important contribution to deal with this situation alone. The deferral can help very concretely with liquidity shortages expected at present,” Dressel added. Commercial tenants that are impacted by the crisis should contact their landlords promptly and substantiate their claim in accordance with the general decree.

Sources and further information:
Press release
Press release

SAGA's support for tenants

The urban housing association SAGA has also assured needy tenants of its support until the end of April 2020. SAGA is extending deferrals and suspending rent increases for the time being to avoid terminations without notice and evictions. Its subsidiary, ProQuartier, is offering neighbours, especially older tenants or those with health problems, assistance at short-notice.

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