Building cooperative has stable foundations

building cooperative has stable foundations

Gerlinde pataky, managing director of the building cooperative in the district of kitzingen, explained at the annual general meeting on tuesday that the demand for good-quality, modernized rental apartments is unchanged. Currently, apartments can be rented without any problems and rents in bavaria are rising steadily due to the high demand. "It is our mission to provide affordable housing," said volkach’s mayor peter kornell in his capacity as chairman of the supervisory board. The local building cooperative also achieves this because no one makes a profit from the cooperative’s activities, but everything benefits the community.

As gerlinde pataky explained, the housing industry is facing demographic challenges and the trend toward smaller households is continuing. In addition to the net immigration from abroad, which has been registered since 2010, there is also the continuing influx of refugees. She emphasized that the cooperative would continue to invest in maintenance with a keen eye on staying competitive. The building cooperative owns 42 houses with 237 apartments, 70 garages and 56 parking spaces in the county. This means that the cooperative owns a total of 16,000 square meters of total, residential and usable space.

The average net rental income was 4.36 euros per square meter. "We have an ideal legal form, because the rents are used to finance refurbishments," said peter kornell. "The building cooperative has a stable financing and asset structure," explained the managing director. She put the balance sheet total at 6.587 million euros with equity capital of 3.534 million euros; the balance sheet profit of 130,000 euros was allocated to reserves. In 2016, the cooperative invested 338,000 euros in its housing stock, and this year around 440,000 euros will be invested, which is why no rough balance sheet profit is expected for the current year. Further investments are planned for the coming year, probably in the region of 350,000 euros.

"The cooperative’s earnings situation is satisfactory," peter kornell quoted from the bavarian cooperative association’s audit report. "This gave us a very good report card," found kornell. In fact, the management, board of directors and supervisory board neither endangered the cooperative nor overtaxed the members and tenants. "We are a small but fine cooperative that operates economically," says chairman robert finster. He attested to the manager’s impeccable work and always an open ear for the tenants.

The new elections to the supervisory board were as harmonious as the entire meeting. Since martina michel and raimund busch did not stand for re-election to the board, wolfgang friedel moved from the supervisory board to the board of management. Turnusgemab ludwig frebert left the supervisory board and was again trusted, and the vacant position on the supervisory board is now filled by margit hofmann. Peter kornell praised the voluntary work of martina michel and raimund busch over 18 years in the cooperative. Oskar munzer from mainbernheim has been a new member of the board since september.

Leave a Reply

Your email address will not be published.