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Tenants in Traismauer are resisting drastic rent increases
WET Group tenants are suing against drastic rent increases of up to 69 percent. The first hearing at the St. Pölten district court shows the residents' concerns and legal dispute over interest rate adjustments.
Tenants in Traismauer are resisting drastic rent increases
In an explosive case at the St. Pölten district court, tenants of a cooperative residential complex belonging to the WET Group in Traismauer have filed a lawsuit against drastic rent increases. These increases amount to up to 69 percent in just a year and a half, posing significant financial risk to many residents. These problems are not new, as the case in another WET Group residential complex in Enzersfeld shows, where tenants also reported an increase in their rent by almost 50 percent.
Christian Andre, one of the main applicants and a resident of the Traismaur complex, said he had started collecting signatures against the rent increases. He heard many touching stories from other tenants who reported fears about their existence. Anita Anna Schmid, the second applicant, also expressed her concerns and clarified that she would never have signed the rental agreement if she had known about the upcoming increases. “We want to show that we don’t just put up with everything,” added Schmid.
Rent increases and their causes
The WET Group justifies the significant rent increases with increased interest on a capital market loan that is used to finance the residential complexes. According to the company, the interest on this loan has increased to 4.5 percent. The tenants, however, argue that the WET Group is obliged under the Non-Profit Housing Act to regularly negotiate the loan interest and not to increase it independently.
The company, which plays an important role in non-profit housing with around 22,500 residential units in Lower Austria, points out that although there were oral negotiations, no satisfactory results were achieved. A well-known face of the WET Group, Michael Kloibmüller, came into the media in 2022 as part of an ÖVP corruption investigation committee, which could increase pressure on the company.
The court has ordered a review of the loan conditions by a credit expert. This should assess whether the current conditions are appropriate or whether debt restructuring would have been necessary. The process remains postponed indefinitely and the tenants hope for a fair solution to this difficult situation.