When it comes to choosing the right buyer or tenant for your property, most homeowners know that it takes the right moves, as well as the right person to help make a difference towards any investment. The process may not be as simple as you would think, and for most, the best solution is to hire a company that can do this for you, such as an agency or establishment that offers these services.
In the end, whether you are renting out your property or selling it, you should be looking at making the most of your investment. Below we cover both of these aspects for those looking for a tenant to rent their property or if you have decided to sell it.
Renting Your Property – Looking for a Great Tenant and More
As a landlord looking to rent out your apartment or house, it is already a large task to make sure your house is ready for someone to move in, let alone going through the process of finding a renter. There are a few things involved from when you start to do your search to when the person moves into the home.
If you care for your property, it may not be as easy as choosing the first person that comes along. It will depend on what you, as the landlord is looking for in particular. For some, the process may be as easy as finding someone willing to pay the highest possible rental amount for the place. But there are also other considerations to pay heed to. These may include
- Someone who is looking for a long-term accommodation
- Someone who can look after the property as if it were their own
- A tenant who can pay their rent every month, on time and in full
In Germany especially, it can sometimes be a challenge looking for the right person. There are also a few rental laws that many need to abide by. There are a few exemptions, but they’re also several rules. Homeowners need to be aware of a few common occurrences and responsibilities as briefly discussed below:
As with all rental properties, there is a requirement for the tenant to pay a deposit. However, in Deutschland, it is not the first month’s rent or the second-month rent and deposit, but rather a triple deposit. This has been explained in-depth on this online source
In a nutshell, the deposit a renter gives the landlord is equivalent to three times the monthly rent. This is not necessarily mandatory as some will accept one month’s rent; however, a landlord can ask for this. This money is kept until the renter moves out and is also used to make any repairs and maintenance costs on the property.
Providing A Quality Accommodation
It is the landlord’s responsibility to provide people with a home that is suitable to live in. there are a few factors that can sometimes hinder this situation, including the cost of buying a property and the costs of maintenance such as redecorating, upgrading and providing the necessary utilities. If you are a proprietor that has a surplus budget to do this, then you are fortunate but some make do with the bare minimum.
Advertising your property
Another responsibility is for you to advertise the home or apartment on the right platforms. Some companies can help you do this, as well as arrange the viewings for you. If you are too busy to do this yourself, it is always best to take the route of hiring an agency, also known as a makler or mmobilienhändler, to help you to achieve your goal, and as soon as possible so you don’t risk losing out on a month rent from an empty accommodation.
Another highly important aspect is to make sure you do any reference checks as well as background checks. When selecting the right tenant, third-party checks are invaluable, you can do them yourself using online resources or hire the agency to help you with this lengthy process.
Students and expatriates tend to rent a lot in Deutschland, information of which can be found here https://www.german-way.com/for-expats/living-in-germany/expat-how-to-guides-for-germany/how-to-avoid-rental-ripoffs-and-landlord-landmines-in-germany/
Doing these checks thoroughly is imperative is to ensure the person can pay their rent and does not mishandle the rooms or disappear without paying their dues leaving you to go through the whole process again, not to mention, in debt.
Preparing a Rental Contract
A contract is an important document that most should construct, making sure it covers all the essential requirements and provides all the important information.
A typical contract in Deutschland should include the below information but some choose to exclude or include others too:
- All the relevant details of the renter e.g. the full name and surname, their current address and contact details
- Information about the rental amount
- The information about the property e.g. location, address, floor number etc.
- The cost of operating the building – electricity, sewage, tax, and garbage or garden utilities
- The general conditions e.g. what the monthly payment if bills are included or Warmiete or not Kaltmiete
- If parking is available
- What’s included in the flat in terms of inventory i.e. furniture and kitchen appliances etc.
- Due date of payments, bank details to pay into
- The start date and end date if it is a 6 month or 12-month contract
- Any house rules such as no noise after 10 pm or no littering etc.
As you can see its no easy feat to look for the right person to take over the contract, and especially for those who have never done it before, the advice at Suedimmo-Strohmaier is to hire an expert business that knows the ropes as well as the rules and regulations surrounding such an endeavor, to make sure its done right and you don’t suffer any unfavorable consequences in the long run.
Properties can be an expensive investment, however, when done right, you could reap the benefits of having someone pay your mortgage for you through means of a lease agreement. There are various options and you can either buy to let a house, apartment or office, or you can build one from scratch or rent out a room in your existing house. Whatever you choose, leaving it to those who can manage it for you will bring you peace of mind.