Akelius: Difference between revisions
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| Industry =Real estate | | Industry =Real estate | ||
| Official Website =https://www.akelius.com/ | | Official Website =https://www.akelius.com/ | ||
| Logo = | | Logo =Akelius Logo.svg | ||
}} | }}'''[[wikipedia:Akelius|Akelius]]''' is a corporate landlord that owns 20,000 rental apartments in major cities such as New York, Boston, Washington, Austin, Toronto, Montreal, Québec City, Ottawa, Paris and London. | ||
==Incidents== | ==Incidents== | ||
== | === Exploitative Rent Policies Under Berlin's Rent Cap (2020-2021) === | ||
In 2020, the company evaded Berlin's short-term rent cap by including '''"shadow rents"''' in leases—secret provisions requesting payment of '''as much as five times the advertised rent''', retroactively payable if the law were to be annulled.<ref>{{Cite web |last=Šustr |first=Nicolas |date=26 Jul 2020 |title=Akelius will Kasse machen |url=https://www.nd-aktuell.de/artikel/1139639.akelius-akelius-will-kasse-machen.html |url-status=live |access-date=11 Apr 2025 |website=www.nd-aktuell.de}}</ref> When Germany's constitutional court ruled the rent cap null and void in 2021, Akelius started to recover these overpayments from renters, fueling indignation.<ref>{{Cite web |last=Goodman |first=Imogen |date=21 Apr 2021 |title='Extraordinary situation': What can you do if your Berlin landlord demands rent cap arrears? |url=https://www.thelocal.de/20210421/extraordinary-situation-what-can-you-do-if-your-berlin-landlord-demands-rent-cap-arrears/ |url-status=live |access-date=11 Apr 2025 |website=The Local Germany}}</ref> The Berlin government intervened with a '''€10 million interest-free loan fund''' to aid affected tenants from being evicted.<ref>{{Cite web |last=Casey |first=Ruairi |last2=Ponsford |first2=Matthew |date=26 Apr 2021 |title=The Enduring Legacy of Berlin’s Rent Cap |url=https://tribunemag.co.uk/2021/04/the-enduring-legacy-of-berlins-rent-cap |url-status=live |access-date=11 Apr 2025 |website=Tribune}}</ref> | |||
== | === UN Human Rights Violations Accusations (2020) === | ||
{{ | The '''United Nations Human Rights Council''' called out Akelius for systemic '''"renovictions"'''—coercive renovations to remove tenants and circumvent rent control.<ref>{{Cite web |last=Smee |first=Michael |date=11 May 2020 |title=UN accuses Toronto apartment owner of human rights abuses |url=https://www.cbc.ca/news/canada/toronto/united-nations-toronto-apartment-human-rights-1.5563756 |url-status=live |access-date=11 Apr 2025 |website=CBC News}}</ref><ref name=":0">{{Cite web |date=29 Apr 2020 |title=Corporate landlord is abusing tenants’ human rights, says UN housing expert |url=https://www.ohchr.org/en/press-releases/2020/04/corporate-landlord-abusing-tenants-human-rights-says-un-housing-expert?LangID=E&NewsID=25845 |url-status=live |access-date=11 Apr 2025 |website=www.ohchr.org}}</ref> The UN Special Rapporteur on housing reported cases where residents were forced to live in uninhabitable conditions for months, with no running water or heating,<ref>{{Cite web |last=Simonpillai |first=Radheyan |date=11 Feb 2021 |title=As lockdown hit, Akelius tenants say cold water shortage lasted 96 days |url=https://nowtoronto.com/real-estate/akelius-canada-100-vaughan-road-cold-water-shortage/ |url-status=live |access-date=11 Apr 2025 |website=NOW Magazine}}</ref> while Akelius undertook upscale overhauls to justify outrageous rent increases.<ref name=":0" /> Investigations also showed the company targeted low-income communities, disproportionately impacting vulnerable populations. | ||
==References== | ==References== | ||
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Latest revision as of 19:17, 11 April 2025
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Akelius
| Basic information | |
|---|---|
| Founded | 1994 |
| Type | Private |
| Industry | Real estate |
| Official website | https://www.akelius.com/ |
Akelius is a corporate landlord that owns 20,000 rental apartments in major cities such as New York, Boston, Washington, Austin, Toronto, Montreal, Québec City, Ottawa, Paris and London.
Incidents[edit | edit source]
Exploitative Rent Policies Under Berlin's Rent Cap (2020-2021)[edit | edit source]
In 2020, the company evaded Berlin's short-term rent cap by including "shadow rents" in leases—secret provisions requesting payment of as much as five times the advertised rent, retroactively payable if the law were to be annulled.[1] When Germany's constitutional court ruled the rent cap null and void in 2021, Akelius started to recover these overpayments from renters, fueling indignation.[2] The Berlin government intervened with a €10 million interest-free loan fund to aid affected tenants from being evicted.[3]
UN Human Rights Violations Accusations (2020)[edit | edit source]
The United Nations Human Rights Council called out Akelius for systemic "renovictions"—coercive renovations to remove tenants and circumvent rent control.[4][5] The UN Special Rapporteur on housing reported cases where residents were forced to live in uninhabitable conditions for months, with no running water or heating,[6] while Akelius undertook upscale overhauls to justify outrageous rent increases.[5] Investigations also showed the company targeted low-income communities, disproportionately impacting vulnerable populations.
References[edit | edit source]
- ↑ Šustr, Nicolas (26 Jul 2020). "Akelius will Kasse machen". www.nd-aktuell.de. Retrieved 11 Apr 2025.
{{cite web}}: CS1 maint: url-status (link) - ↑ Goodman, Imogen (21 Apr 2021). "'Extraordinary situation': What can you do if your Berlin landlord demands rent cap arrears?". The Local Germany. Retrieved 11 Apr 2025.
{{cite web}}: CS1 maint: url-status (link) - ↑ Casey, Ruairi; Ponsford, Matthew (26 Apr 2021). "The Enduring Legacy of Berlin's Rent Cap". Tribune. Retrieved 11 Apr 2025.
{{cite web}}: CS1 maint: url-status (link) - ↑ Smee, Michael (11 May 2020). "UN accuses Toronto apartment owner of human rights abuses". CBC News. Retrieved 11 Apr 2025.
{{cite web}}: CS1 maint: url-status (link) - ↑ 5.0 5.1 "Corporate landlord is abusing tenants' human rights, says UN housing expert". www.ohchr.org. 29 Apr 2020. Retrieved 11 Apr 2025.
{{cite web}}: CS1 maint: url-status (link) - ↑ Simonpillai, Radheyan (11 Feb 2021). "As lockdown hit, Akelius tenants say cold water shortage lasted 96 days". NOW Magazine. Retrieved 11 Apr 2025.
{{cite web}}: CS1 maint: url-status (link)