LEG Immobilien

What LEG Immobilien does

LEG Immobilien SE is a publicly listed German residential real estate company headquartered in Düsseldorf, founded in 1949 and converted to a European Company (SE) structure in 2020 alongside its Frankfurt Stock Exchange listing (ticker: LEG). It is the largest residential landlord in North Rhine-Westphalia and one of Germany's top three residential property companies, managing approximately 170,000 rental units across 230+ locations serving roughly 500,000 tenants. The portfolio includes residential apartments, parking/garages, and commercial units, with social-housing-eligible (WBS) inventory from roughly €293/month cold rent up to premium units above €1,800/month.

The core business is recurring monthly residential rent supplemented by ancillary income (parking, commercial) and a bundling strategy of Zusatzprodukte — energy supply via ESP, TV/internet, wallbox EV charging, deposit guarantees, and tenant insurance. A digital tenant layer sits atop the physical portfolio: the Meine LEG portal (Aareon CRM), iOS/Android Mieter-App, a virtual Hausportal, and a recently deployed suite of AI-powered tools including the Azure OpenAI-based KI Service-Bot (May 2025), KI-Voicebot for telephone authentication, and KI-Schadenchatbot for damage reporting. Operational technology includes termios smart radiator thermostats (a LEG Group company) for hydraulic balancing and energy optimization, plus innovation initiatives RENOWATE (renovation), dekarbo° (decarbonization), Youtilly (tenant engagement), and Future-iQ (analytics). Go-to-market is direct-to-consumer via the leg-wohnen.de property search portal, supplemented by in-person Mietersprechstunden and a customer-service hotline; an enterprise field-sales function supports tenant acquisition and retention across NRW.

Name

LEG Immobilien

Legal name

LEG IMMOBILIEN SE

Website

https://leg-wohnen.de

Company type

Public

Founded year

1949

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

LEG Immobilien SE is a Frankfurt-listed German residential REIT and the largest landlord in North Rhine-Westphalia, managing approximately 170,000 rental units across 230+ locations and serving roughly 500,000 tenants with bundled housing and digital services.

Ownership category

akta.pro rank

Headquarters

HQ city

Düsseldorf

HQ country

Germany

HQ region

Europe

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Residential Rental Income: Primary revenue stream from renting approximately 130,000 residential apartments across Germany, primarily in North Rhine-Westphalia. Net cold rent of €919.9 million in FY2025, up 7% year-on-year. Like-for-like rental growth of 3.5%
2. Ancillary Rental Income: Additional revenue from parking spaces, garages, commercial spaces, and storage units associated with residential properties
3. Additional Services: Supplementary services including TV/internet provision, electricity/gas supply (through ESP), wallbox charging solutions, and insurance products bundled for tenants

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels9 records

Core offering

LEG Immobilien SE is Germany's fourth-largest residential real estate company, managing approximately 170,000 rental apartments across 230+ locations, primarily in North Rhine-Westphalia. The company provides residential rental housing (Mietwohnungen), parking and commercial spaces, and bundles additional services such as energy supply, EV charging wallboxes, deposit guarantees, and digital tenant self-service via portal and mobile app. Approximately 500,000 people live in LEG properties.

Product overview

LEG Immobilien SE is Germany's fourth-largest residential real estate company and the largest landlord in North Rhine-Westphalia (NRW), managing approximately 170,000 residential units across 230+ locations. The company operates a platform-plus-services model: its core product is the rental of residential apartments (Mietwohnungen), complemented by parking spaces, commercial units, and new construction projects. LEG bundles additional services including energy supply (Strom und Gas), EV charging (Wallbox), deposit guarantees (Kautionsbürgschaft), and housing allowance advisory (Wohngeld) as Zusatzprodukte for tenants. The digital product layer includes the Mieter-Portal (Aareon CRM-based), Mieter-App (iOS/Android), Hausportal, and a suite of AI-powered tools: a KI Service-Bot (chatbot), KI Voicebot (telephone), KI-Schadenchatbot (damage reporting), and the termios Pro smart thermostat. Innovation brands RENOWATE, dekarbo°, Youtilly, and Future-iQ address renovation, decarbonization, tenant engagement, and analytics respectively. LEG also operates charitable foundations for tenant support.

Differentiator

Problem solved

Functional benefit

Brands

• RENOWATE: Renovation and modernization services for residential properties
• dekarbo°
• termios
• Youtilly
• Future-iQ

Products and services

• Mietwohnungen (Residential Rental Apartments) Primary offering: rental of residential apartments across LEG's portfolio of approximately 170,000 units at over 230 locations, predominantly in North Rhine-Westphalia, Germany. Apartments range from studios to 5+ room units, with cold rents from approximately €290 to €1,899 per month.
• Stellplätze & Garagen (Parking Spaces) Rental of parking spaces, garages, and car ports across LEG's residential portfolio. Offered as standalone units and as add-ons to residential tenants.
• Gewerbeimmobilien (Commercial Properties) Rental of commercial and retail spaces in mixed-use buildings within LEG's property portfolio.
• Neubauprojekte (New Construction Projects) LEG develops new residential buildings under its Neubau program, with named projects including west.side (Bonn), Tabakquartier (Bremen), Literatur Quartier (Essen), Wohnpark Emscherquelle (Holzwickede), Longerich (Köln), and Wohnen am Bachgarten (Lippstadt).
• Strom und Gas (Energy Supply) LEG bundles electricity and gas supply as an additional product for tenants, providing energy from a single provider alongside rent.
• Wallbox (Electric Vehicle Charging) Wallbox installation as an additional product for tenants wishing to charge electric vehicles at home, part of the smart home / sustainability Zusatzprodukt lineup.
• Kautionsbürgschaft (Deposit Guarantee) Deposit guarantee (Kautionsbürgschaft) as an alternative to traditional cash security deposits, offered in partnership with plusForta to facilitate tenant move-in by reducing upfront costs.
• Mieter-Portal / Meine LEG (Tenant Portal) Digital self-service portal for existing tenants to retrieve certificates and statements, check rental accounts, monitor consumption, update personal data, and submit service requests.
• Mieter-App (Tenant Mobile App) LEG's mobile application for iOS and Android, providing tenants with access to rental account management, document retrieval, consumption monitoring, service requests, and building information.
• Online-Schadenmeldung (Online Damage Reporting) Digital damage reporting tool that allows tenants to report maintenance issues and schedule repair appointments online, operated by TSP-TechnikServicePlus.
• termios Pro (Smart Radiator Thermostat) Smart radiator thermostat developed by termios GmbH (a LEG Group company), deployed in LEG apartments to perform hydraulic balancing, optimize energy efficiency, and ensure even heat distribution. Offered with optional premium features upon tenant consent.

Quantifiable outcome

• Net cold rent of €919.9 million in FY2025, up 7% year-on-year
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Microsoft Azure OpenAIcoreTechnology or IntegrationLEG uses Azure OpenAI services for AI-powered customer service applications including the Service-Bot chatbot and KI-Voicebot for telephone support. Data processing occurs with appropriate safeguards including standard contractual clauses for potential transfers outside EU.
• AareoncoreTechnology or IntegrationAareon provides CRM and tenant management software powering the Meine LEG tenant portal and associated digital services.
• tsp - TechnikServicePlus GmbHcoreImplementation/ SI/ Consulting PartnerTechnical services subsidiary handling property maintenance, repairs, and technical services. Joint responsibility with B&O Gruppe. Operates the KI-Schadenchatbot and TSP-Telefonbot for damage reporting and customer service.
• ESP - EnergieServicePlus GmbHcoreChannel Partner/ Reseller/ DistributorEnergy services subsidiary providing electricity and gas supply to tenants, bundled with rental services.
• termios GmbHcoreTechnology or IntegrationLEG Group company providing smart radiator thermostats (termios Pro) for hydraulic balancing and energy optimization. Data responsibility shared between LEG and termios for these IoT devices.
• move elevator GmbHminorImplementation/ SI/ Consulting PartnerLead agency for web accessibility compliance testing and implementation, working on BITV 2.0 and WCAG 2.1 requirements.
• Deloitte GmbHcoreOthersExternal auditor for annual financial statements since 2021. Responsible auditors: Rolf Künemann and André Bedenbecker.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Vonovia SE: Germany's largest residential landlord with ~500,000+ units. Direct competitor in the same affordable housing segment and geographies, with bundled services strategy and digital tenant platform analogous to LEG's Meine LEG.
• Deutsche Wohnen SE: Major German residential property company (now part of Vonovia) historically focused on Berlin and other German metros. Same business model of owning and managing long-term residential apartments with tenant-facing digital services.
• TAG Immobilien AG: German residential landlord focused on affordable housing in northern and eastern German cities with similar value-conscious tenant strategy, like-for-like rent growth orientation, and digital service platform.
• Grand City Properties S.A. German-focused residential and small-commercial landlord (~65,000+ units). Operates in similar value-add segment and serves comparable tenant base in NRW and other urban German markets.
• Adler Group S.A. German residential landlord (currently in restructuring) with similar apartment-rental model and comparable tenant demographics, illustrating both the opportunity and execution risk in the affordable housing segment.
• Akelius Residential Property AB: European residential landlord with German urban properties; comparable long-term residential apartment model with similar cash-flow-oriented operating focus.

Broad incumbents

• Aroundtown SA: Major European commercial and residential real estate company with significant German footprint including mixed-use and hotel properties adjacent to LEG's residential focus.
• Heimstaden AB: Pan-European residential operator (with German assets via Heimstaden Bostad); broader European platform with similar affordable-housing positioning and digital tenant services.

Regional players

• Vivawest Wohnen GmbH: Large residential landlord concentrated in NRW (~120,000 units), overlapping directly with LEG's core NRW footprint and offering the most geographically comparable competing portfolio.

Others

• Vonovia SE - Mieter-App competitor (in-house peer ref): Aareon (LEG's CRM/tenant portal partner) also serves comparable large German landlords (Vonovia, Deutsche Wohnen) so that ecosystem relationship links LEG directly to its closest competitive technology stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/legwohnen
• YouTubeyoutube.com/user/LEGwohnen
• Facebookfacebook.com/LEGWohnen
• LinkedInlinkedin.com/company/leg-immobilien-gruppe
• Instagraminstagram.com/legwohnen

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries14 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LEG Immobilien