Wohnbau

What Wohnbau does

Wohnbau GmbH is a German residential property company founded in 1921 in Berlin and now headquartered in Bonn (incorporated under HRB 7684 at Amtsgericht München). The company is wholly owned by the nonprofit foundation Stiftung Wohnhilfe, established in 1976 when the original shareholders transferred all shares to ensure the company's assets permanently serve charitable purposes. Wohnbau owns and manages approximately 20,500 rental apartments across 34 German cities in five major markets (Baden-Württemberg, Bayern, Berlin, Hamburg, and Nordrhein-Westfalen), reporting €258 million in 2025 revenue (Umsatzerlöse), a €2.586 billion balance sheet total, €889 million in equity, and a vacancy rate of just 0.42%.

The company's operating model combines a long-tenured owned-portfolio rental business with third-party property management through its WSB (Wohnbau Service Bonn GmbH) subsidiary, which has 40 years of WEG (Wohnungseigentumsgesetz) condominium administration experience. The portfolio includes 1,277 publicly subsidized and 5,180 allocation-restricted apartments, providing regulated rent and tenant stability. Tenant-facing technology centers on the Wohnfinder apartment search portal (active in 15 cities), the Mieterportal tenant self-service portal, the Mieter-App mobile application, and an LLM-based intelligent call handling system deployed at the Bonn service center. Integrations with Immomio (rental application processing), iSTA (remote utility metering), and SCHUFA (credit checks) underpin the digital tenant lifecycle. On-site caretakers (Hausmeister) at each location provide local operational support.

Revenue is overwhelmingly recurring rental income (97.7% from Hausbewirtschaftung/property management in 2025), supplemented by professional services revenue from WSB's third-party contracts and one-time development revenue from new construction projects. In 2025, the company invested €114 million in new construction and €45.2 million in modernization and maintenance, with 1,100 apartments (worth €330 million) in the active construction and planning pipeline — more than half designated as subsidized or price-controlled. Operating cash flow of €91.8 million indicates strong self-financing capacity, and ownership by a charitable foundation constrains the company to a long-term holder strategy rather than short-term disposition.

Name

Wohnbau

Legal name

Wohnbau GmbH

Website

https://wohnbau-gmbh.de

Company type

Private

Founded year

1921

Operating status

Operating

Headcount range

101–250 employees

Short description

Wohnbau GmbH is a 1921-founded German residential property company, owned by nonprofit foundation Stiftung Wohnhilfe since 1976, managing ~20,500 rental apartments across 34 cities with €258 million in 2025 revenue. It serves individual renters through digital platforms (Wohnfinder, Mieterportal, Mieter-App) and third-party owners via its WSB subsidiary.

Ownership category

akta.pro rank

Product category

Residential Real Estate Rental and Property Management

NAICS

Residential Property Managers (531311), Real Estate Property Managers (53131)

SIC

Operators Of Apartment Buildings (6513), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industry

HOA / Condominium Association Management (BPAJAFAH)

Keywords

• Residential property rental
• Apartment management services
• Housing property administration
• Real estate portfolio management
• Tenant digital services

Headquarters

HQ city

Bonn

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Rental Income: Primary revenue from renting approximately 20,500 owned residential apartments across Germany. Income from house management constitutes 97.7% of total revenue.
2. Property Management Services (WEG-Verwaltung): WSB subsidiary provides housing property management services for third parties including apartment ownership associations (WEG) and private/institutional property owners. 40 years of WEG experience.
3. New Construction & Project Development: Development of new residential properties for own portfolio. More than half of new construction includes publicly subsidized or price-controlled apartments.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

Wohnbau GmbH owns, manages, and leases approximately 20,500 residential apartments across 34 cities in Germany. The company provides long-term rental housing with digital tenant services (Mieterportal, Mieter-App, Wohnfinder), in-house new construction and modernization, and through its subsidiary WSB also delivers third-party property management including WEG (condominium) administration.

Product overview

Wohnbau GmbH is a residential real estate company managing approximately 20,500 rental apartments across Germany. The core offering consists of digital tenant services centered around the Mieterportal (web-based tenant portal) and Mieter-App (mobile application), enabling tenants to manage contracts, view statements, submit maintenance requests, and access services. The Wohnfinder platform allows prospective tenants to search available apartments and submit applications, integrated with the partner platform Immomio for the digital rental process. The Wohnbau Mieter-Service provides on-demand handyman services in select cities, while the subsidiary WSB (Wohnbau Service Bonn GmbH) handles property management for third parties. Socially, the Stiftung Wohnhilfe foundation channels company profits into charitable housing and welfare projects.

Differentiator

Problem solved

Functional benefit

Brands

• WSB (Wohnbau Service Bonn): Property management services brand for WEG (condominium) administration, third-party property management, and rental services. 100% owned subsidiary with 40 years of experience in WEG management.

Products and services

• Wohnfinder Online apartment search platform displaying current rental listings across 15 German cities; prospective tenants can filter by location, view property details, and apply directly through integration with the Immomio application platform.
• Mieterportal (Tenant Portal) Web-based self-service portal for existing tenants to view contract data, download forms, update personal information, report issues, and access tenant services online 24/7.
• Mieter-App (Tenant Mobile App) Mobile application available in the App Store and Google Play providing tenants on-the-go access to contract information, forms, maintenance reporting, and other tenant services.
• Residential Rental Housing (Mietwohnungen) Core rental offering of approximately 20,500 owned apartments across 34 German cities, including publicly subsidized and price-controlled units, provided to individuals and families on long-term leases.
• New Construction & Project Development In-house development of new residential properties for the company's own portfolio, with more than half of new construction consisting of publicly subsidized or price-controlled apartments.
• WSB Property Management Services Through wholly-owned subsidiary Wohnbau Service Bonn GmbH (WSB), Wohnbau provides property management services for third parties including apartment owner associations (WEG-Verwaltung), private and institutional property owners, with 40 years of WEG experience.

Quantifiable outcome

• Vacancy rate of only 0.42% in 2025, demonstrating high tenant satisfaction and desirable properties
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability2 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• ImmomiocoreTechnology or IntegrationDigital rental platform partner that handles tenant registration and application processing. Prospective tenants are redirected from Wohnfinder to Immomio to input apartment criteria and application data for rental applications.
• WSB (Wohnbau Service Bonn GmbH)coreStrategic or Co-development PartnerWholly-owned subsidiary providing housing property management services for third parties. 40 years of experience in WEG management and property administration for private and institutional owners.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• HOWOGE Wohnungsbaugesellschaft mbH: Berlin municipal housing company owning and operating tens of thousands of residential apartments. Comparable structure as a large-scale German residential landlord with a long-term portfolio orientation.
• Grand City Properties S.A. Berlin-headquartered residential real estate company owning tens of thousands of German apartments in urban locations. Direct overlap with Wohnbau in product offering (multifamily rental) and target tenant demographic.
• TAG Immobilien AG: Mid-sized German residential landlord with around 84,000 units, focused on secondary German cities. Comparable multifamily rental model, tenant base, and urban footprint to Wohnbau's 34-city portfolio.
• Deutsche Wohnen SE: Berlin-focused residential landlord (now majority-owned by Vonovia) with a large portfolio of urban apartments. Highly comparable in product offering, tenant demographic, and German urban geography.
• LEG Immobilien SE: Listed German residential property company with roughly 145,000 apartments concentrated in North Rhine-Westphalia. Closely comparable product (multifamily rental housing), customer base (German renters), and operating geography overlap with Wohnbau.
• SAGA Siedlungs-Aktiengesellschaft Hamburg: Hamburg's municipal housing company managing around 140,000 apartments. Closely comparable as a long-standing, mission-driven residential landlord operating multifamily rental housing for broad tenant segments in Germany.
• Gewobag Wohnungsbau GmbH: Berlin-based municipal housing association managing roughly 75,000 apartments. Directly comparable in being a German residential landlord with mixed subsidised and free-market units and long-term portfolio orientation.
• BUWOG AG: German residential developer and landlord part of Vonovia, focused on urban multifamily rental housing. Comparable in combining new construction with owned rental portfolio operations in German cities.
• Adler Group S.A. German-focused residential real estate company managing a portfolio of approximately 70,000 apartments. Comparable owned-and-operated multifamily rental model and German geographic footprint.

Broad incumbents

• Vonovia SE: Germany's largest residential landlord with around 500,000 units. Directly comparable business model of owning and managing multifamily apartments across German cities, though at vastly greater scale and as a publicly listed company.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Wohnbau