Real estate industry suffers: Livit CEO warns of bankruptcy wave



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Andreas Ingold (58) has run the largest Swiss property manager Livit for twelve years. In an interview with the “Handelszeitung” he warned of the serious consequences of the crisis of the crown: “The difficult times are still ahead, we can also expect waves of bankruptcies,” he told the newspaper.

You don’t think much about the policy proposals for crisis management in your industry. Strongly rejects the Corona rental exemption planned by Parliament. This stipulates that for commercial rentals up to CHF 20,000 per month, tenants only have to pay 40 percent of the rent during the period during the forced closure. The owners take over the remaining 60 percent.

Against a Corona rental exemption

“That is unacceptable,” he says in an interview. Regulations have already increased enormously in recent years. Instead, Ingold relies on tenant-landlord partnership agreements. “Practice shows that this is possible. We alone have already implemented around 800 solutions ”, says the CEO of Livit.

Livit is a subsidiary of Swiss Life and currently manages more than 180,000 properties and almost 3 million square meters of commercial space. “We received more than 2,200 requests for deferred rent and rent reduction from commercial and retail tenants,” says Ingold. Most of the owners were very helpful and gave up the rent for a month or two.

Trend towards a larger living space

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