It can be seen in the media: prices are rising massively - especially in the energy sector and for food. Unfortunately, these developments also have a serious impact on the Studierendenwerk Stuttgart. We cannot avoid adjusting the ancillary costs that are included in our rents as of 1 January 2023. The price adjustments apply to all new contracts (this also includes follow-up contracts) concluded from January 2023 onwards. All current contracts currently remain unaffected.
Studierendenwerk Stuttgart is a social, non-profit organisation. We strive to make our prices for rent, food and childcare as socially acceptable as possible for students. Unfortunately, due to price increases and inflation, we are forced to pass on the increased costs. Current developments mean additional costs of 1.8 million euros per year for external heating, electricity and gas alone. We have also rented a large part of our residential complexes from investors. We pay them monthly rent, which is also rising continuously.
In addition to the energy costs, the fees for the disposal of residual waste will increase in the coming year. Waste incineration is expected to become 900 million euros more expensive throughout Germany.
From 2023, we will therefore have to increase the monthly warm rent for all newly concluded contracts. We are doing this as moderately as possible. We will remain below the level of the private housing market, which of course is currently also becoming more expensive.
It is important for us to inform you about these developments. In October, at the beginning of the semester, all tenants also received an information letter from us with further information.