3. Detailed information on statement of profit and loss and OCI items
3.1Rental income
Rental income increased by 13.2% (TCHF 577) compared to the prior year period. This increase is mainly due to lettings in Bern, which led to a reduction in vacancy losses, and to the payment of a rental receivable that had already been written off in the previous year.
Bad debt was reclassified from property expenses to rental income, and the previous period was adjusted accordingly. Without this reclassification, rental income would have been TCHF 4 753, which is TCHF 123 or 2.7% higher compared to the prior year period (TCHF 4 630).
3.2Real estate expenses
Real estate expenses directly attributable to investment properties represented 3.2% (previous year 2.8%) of rental income.
The increase in real estate expenses of TCHF 36 compared with the previous year is mainly attributable to higher insurance premiums and property taxes.
3.3Personnel expenses
Personnel expenses decreased by TCHF 58 compared to the prior year period, which is attributable to reduced wages and the reversal of an accrual for social security contributions.
Other personnel expenses include flat expense allowances of employees and members of the Board of Directors. This item also includes the premium for directorsʼ and officersʼ liability insurance, costs for recruitment as well as expenses for further education and training of existing staff.
3.4Administrative expenses
Administrative expenses increased by TCHF 133 or 29% compared to the prior year period. This increase is mainly due to increased expenses for legal and tax advisory.
