Restructuring - maintaining the inventory
What does refurbishment mean? The definition
Restructuring includes all measures to restore the original structural condition of a property, which includes repair of structural defects as well as energy and functional work. The term is derived from Latin Sanare Off what “heal” means. One remediation goes beyond simple renovations and is usually associated with higher costs and complex planning, often with professional support from construction and energy experts. Terms such as “refurbishment,” “modernization,” and “renovation” are often mistakenly used as synonyms. In practice, however, there are clear differences:
Differences between refurbishment, modernization and renovation
remediation
The aim of the restructuring is Elimination of structural defects and damageto make the property functional and safe. Typical renovation work includes:
- Eliminate mold
- Repairing leaky roofs
- Removing asbestos
- Replacing old windows
modernizing
Modernization is about Improving housing standards and energy efficiency. It increases the value of the property without necessarily having to present a defect. Examples of modernizations include:
- Installing a photovoltaic system
- Building envelope insulation
- Installing new windows with insulated glazing
renovation
The renovation includes optical refreshes and maintenance work that improves the aesthetic condition of a property:
- painting or wallpapering walls
- Sanding and sealing parquet floors
- Replacing floor coverings
Restructuring and tenancy law: Distinction from maintenance measures
In tenancies, measures can be taken for Modernization applied to rent During maintenance work such as Heating or plumbing repairs are included in rent. However, tenants cannot prevent maintenance as this is necessary to maintain the property.
Tip: Since many renovation measures require approval, it is worthwhile to check with the responsible building authority at an early stage. Depending on the location, construction measures that take place exclusively within the building may also require approval.
Advantages and disadvantages of restructuring
advantages:
- Increasing the Quality of living and energy efficiency
- increase in value of the property
- Compliance with modern construction and safety standards
Disadvantages:
- High costs and complex planning
- Any restrictions for tenants or residents
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