Terminated, tenants gone, rent out!: Valais pension fund rents out flats at exorbitant prices

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In the example of this rental posting on Immoscout24, many people in Brig-Glis currently only understand the train station – and that’s because it’s not even French. A 4.5-room apartment of about 110 square meters is suddenly advertised for 2,500 francs per month. Previous tenants who recently moved had paid CHF 1,600 gross rent for six years. That’s a rent increase of 900 francs! The only difference at first glance: the apartment is presented fully furnished.

The new lease is even more explosive for the landlord: Like the entire three-property complex in Glis, the flat is owned by the Valais state employees’ pension fund, PKWAL ​​for short. The management of PKWAL ​​has been transferred to a property management company from Sierre, which has recently leased two more apartments in the superstructure for PKWAL ​​- again at significantly higher prices than before.

PWKAL’s goal is “as little rental loss as possible”.

Pension Fund wants to renovate 64 flats in three properties of the superstructure, step by step. But in recent months he has been more than an unfortunate figure. Sometimes we were told that the apartments would be empty due to renovations, then again tenants could stay. Some became so restless that they fled. Property management is now taking care of these three apartments. «Company flats are free to rent for short or long term. “The goal is to get as little rental loss as possible,” PKWAL ​​director Daniel Stürzinger tells Blick. This variant was chosen because of its greater flexibility. That’s because the extent and beginning of the renovations are still open for two of the properties.

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PKWAL ​​canceled the third property at the end of February. Party of 26 had to move. As Walliser Bote reports, the move was a challenge, especially for older residents. Critics complained that the renovation of the 29-year-old building was not done when it was inhabited. However, some floors will be converted into smaller residential units that PKWAL ​​wants to take into account changing needs. You can also see it this way: With smaller apartments, higher rents per square meter can be obtained.

“These rentals are giving the wrong signal”

High rents are now causing more criticism. “Especially the canton and the cantonal pension fund act as a role model in the current situation in the housing market. These leases and planned luxury renovations are giving a completely false signal. Rather than profit from the current situation, the public sector should create affordable housing,” says Rahel Zimmermann, VP of SP Oberwallis.

A rent increase of CHF 900 or 56 percent per month would be a very promising reason to object to the initial rent. However, property management specializes in holiday apartments and hotels and offers on its website the apartments that can be booked on a daily basis. About 800 francs a week in an apartment in August. As a non-hotel proposition with services like cleaning and significantly higher management costs, a challenge should be unnecessary.

There is demand, the apartment is quite full during the bookable period according to the online calendar: there is a huge shortage of housing in the Upper Valais valley, driven by the Lonza boom in Visp. Therefore, temporary offers are also in demand. Furnished apartments are especially popular among foreign specialists of the pharmaceutical supplier.

Source :Blick