Akelius: Difference between revisions
expanded |
added archive link with archive date |
||
| Line 10: | Line 10: | ||
==Incidents== | ==Incidents== | ||
=== Exploitative Rent Policies Under Berlin's Rent Cap (2020-2021) === | ===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> | 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 |archive-url=https://archive.ph/3RtDZ |archive-date=7 Jan 2026 |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 |archive-url=https://archive.ph/gOE6W |archive-date=5 Aug 2025 |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 |archive-url=https://archive.ph/JzV5J |archive-date=7 Jan 2026 |access-date=11 Apr 2025 |website=Tribune}}</ref> | ||
=== UN Human Rights Violations Accusations (2020) === | ===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. | 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 |archive-url=https://archive.ph/7gqhk |archive-date=7 Jan 2026 |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 |archive-url=https://archive.ph/qtxlN |archive-date=7 Jan 2026 |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 |archive-url=https://archive.ph/PcGx5 |archive-date=7 Jan 2026 |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== | ||
Revision as of 20:08, 7 January 2026
❗Article Status Notice: This Article is a stub
This article is underdeveloped, and needs additional work to meet the wiki's Content Guidelines and be in line with our Mission Statement for comprehensive coverage of consumer protection issues. Learn more ▼
Akelius
| Basic information | |
|---|---|
| Founded | 1994 |
| Legal structure | 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
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.[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)
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
- ↑ Šustr, Nicolas (26 Jul 2020). "Akelius will Kasse machen". www.nd-aktuell.de. Archived from the original on 7 Jan 2026. Retrieved 11 Apr 2025.
- ↑ Goodman, Imogen (21 Apr 2021). "'Extraordinary situation': What can you do if your Berlin landlord demands rent cap arrears?". The Local Germany. Archived from the original on 5 Aug 2025. Retrieved 11 Apr 2025.
- ↑ Casey, Ruairi; Ponsford, Matthew (26 Apr 2021). "The Enduring Legacy of Berlin's Rent Cap". Tribune. Archived from the original on 7 Jan 2026. Retrieved 11 Apr 2025.
- ↑ Smee, Michael (11 May 2020). "UN accuses Toronto apartment owner of human rights abuses". CBC News. Archived from the original on 7 Jan 2026. Retrieved 11 Apr 2025.
- ↑ 5.0 5.1 "Corporate landlord is abusing tenants' human rights, says UN housing expert". www.ohchr.org. 29 Apr 2020. Archived from the original on 7 Jan 2026. Retrieved 11 Apr 2025.
- ↑ Simonpillai, Radheyan (11 Feb 2021). "As lockdown hit, Akelius tenants say cold water shortage lasted 96 days". NOW Magazine. Archived from the original on 7 Jan 2026. Retrieved 11 Apr 2025.