1. loss of rent: when the rent is not paid

One of the main reasons for insomnia among landlords is rent default. This occurs when tenants fail to pay the agreed-upon rent on time or at all. Rent defaults can cause financial shortfalls and often require legal action to collect outstanding payments. Landlords should be prepared to have reserves to weather financial setbacks.

Loss of rent: When the rent is not paid:

• Tip 1: Set clear rent payment deadlines and remind your tenants to pay on time. Automated payment reminders can be helpful here
• Tip 2: Create a financial safety cushion to cover unexpected rent losses. This can help you in financial straits

2. tenant problems: dealing with difficult tenants

Landlords often face the challenge of managing problem tenants. This can range from repeated noise nuisance and inappropriate behavior to significant damage to the property. Dealing with these conflicts requires tact and the ability to enforce the lease and applicable laws.

Tenant problems: dealing with difficult tenants:

• Tip 1: Lay down clear rules of conduct in your rental agreement and inform your tenants of rule violations at an early stage
• Tip 2: Maintain open communication with your tenants to address and resolve issues early, before they escalate

3. repairs and maintenance: maintaining the value of the property

Regular property maintenance is critical to maintaining its value and ensuring tenant satisfaction. Repairs, renovations and maintenance can incur unexpected costs and require reliable tradesmen and service provider management. In the long run, however, well-maintained properties can command higher rents and resale values.

Repairs and maintenance: maintaining the value of the property:

• Tip 1: Maintain a regular inspection routine to identify and address potential repairs early on
• Tip 2: Plan for the long term and set a repair and maintenance budget to better manage unexpected costs

4. tenant turnover: finding long-term tenants

Frequent tenant turnover can lead to vacancies and additional costs. Landlords often seek long-term, reliable tenants to overcome this challenge. This requires thorough tenant selection, adherence to fair lease terms, and proper communication with tenants to meet their needs and build long-term bonds.

Tenant turnover: finding long-term tenants:

• Tip 1: Conduct thorough background checks on your tenants to select reliable long-term tenants
• Tip 2: Offer long-term leases with attractive terms to retain tenants for the long term and minimize vacancies

5. legal requirements and regulations: legal pitfalls

Real estate leasing is subject to numerous laws and regulations, ranging from lease agreements to discrimination laws to safety regulations. Landlords must become thoroughly familiar with local, state and federal regulations to avoid legal problems. Failing to comply in this area can lead to costly legal battles.

Legal requirements and regulations: legal pitfalls:

• Tip 1: Learn about local, state and federal rental laws and regulations early to ensure you meet all requirements
• Tip 2: Stick to best practices to avoid legal problems, such as keeping careful leases and following discrimination laws

6. insurance and liability: protecting yourself from risks

Having the right insurance is critical to protect landlords from unforeseen damages or liability claims. This includes liability insurance, property insurance and possibly loss of rent insurance. Choosing the right policies should be done carefully to ensure the best possible protection.

Insurance and liability: Protect yourself from risks:

• Tip 1: Consult an insurance professional to select the right insurance policy for your property, including liability insurance and property insurance
• Tip 2: Investigate the possibility of rent loss insurance to cover financial losses in case of rent loss

7. taxes and finance: Accounting and tax planning

Financial management of real estate requires accurate recordkeeping and effective tax planning. Landlords should be aware of the tax implications of rental income and expenses to maximize profitability and avoid problems with tax authorities.

8. marketing and leasing: finding the right tenant

Finding suitable tenants requires marketing efforts and conducting viewings. It is critical to present the property attractively and thoroughly screen potential tenants to make the right choice. An effective marketing and leasing process can minimize vacancies and increase profitability.

Marketing and leasing: finding the right tenant:

• Tip 1: Invest time and effort in presenting your property, including appealing photos and a detailed description, to attract qualified tenants
• Tip 2: Conduct comprehensive background checks on prospective tenants to ensure they are reliable and understand the terms of the lease

9. economic fluctuations: Dealing with uncertain times

The rental of real estate may be affected by economic fluctuations. Changes in the economy can affect rental income and property value. Landlords should prepare for economic uncertainties by creating adequate financial reserves and developing a flexible strategy to adjust to the market.

My conclusion: mistakes when renting

Renting out real estate can be a rewarding investment, but it presents a variety of challenges. By thoroughly educating yourself as a landlord, seeking professional assistance (tip: real estate coaching), and adopting best practices, you can better manage these issues and increase the success of your rentals.

No more desire to rent?

Your option: Lukinski for sellers

Rent with our experts.

• Lukinski for sellers

Return leverage: equity and interest

The biggest levers within the return are 1) equity share, 2) interest rate and 3) fixed interest period. The “higher the costs” the worse the return.

A complementary guide to buying and renting a villa.

What does yield mean?

Return, simply put, compares your capital investment to what you earn from your property (renting). If the return (income / investment) is 6% or more annually, your villa is generating enough for the tenant(s) to pay for your villa.

Negative return effects due to interest rate & Co.

The higher the monthly costs (repayment, interest and maintenance), the lower the return. So if the interest rate you have to pay for a loan increases, this has a negative impact on the return.

Negative effects at a glance:

1. Equity investment
2. Repayment
3. Interest
4. Maintenance

It’s the same with equity, of course. Because, as you will learn in a moment, you have to provide significantly more equity as collateral abroad. The more equity you have to provide, the more assets are tied up in your property.

Rentals and extras in the south: pool, garden & co.

In addition, there are the typical maintenance costs, of course extended and aspects such as garden service and pool service. For example, if you use your villa only 2, 3 or 4 months a year yourself and rent it out the other time.

Learn here everything first and important about financing a villa in Spain.

Equity investment abroad: Spain

The use of equity capital differs considerably abroad. The main reason for this is that, in case of doubt (default), banks can only access the property with increased effort. Accordingly, German banks rarely finance foreign real estate and refer you to a local partner.

Equity comparison: Germany, Spain and USA

For a real estate financing in Germany you need, for the first, second and also third real estate about 15% equity.

In Spain, whether Mallorca, Ibiza, Marbella or other hotspots, the bank charges significantly more, usually 50-60%.

• Equity in Germany: 10-15
• Equity in Spain: 50-60%
• Equity in USA: 100%

If you want to buy your property in the USA, you have to expect even more. Often you even have to buy with 100%. Why is that?

Security, access and legal systems

As already described in the introduction: Equity serves as collateral for the bank. The more “risky” the loan, the worse the conditions. In this country, a good credit rating is sufficient to obtain the usual conditions of 10-15%. Abroad, many factors are added, for example, the legal system. Within Europe, or the European community, it is still a little easier than with third countries, such as the USA.

Lending factors:

• Interest rate
• Fixed-interest period
• Equity share

Interest rate and fixed interest rate

Interest rate and fixed interest rate – The fact is, as a foreigner you get worse conditions in other countries, after all the risk increases. Interest rates, or higher interest rates, have an extreme effect on profitability.

Interest effect: cost increase at only 1% plus

Let’s say you borrow 500,000 euros as a loan for financing. Every year (every month) you pay off a little of the loan amount. The smaller this remaining debt, the smaller the amount you pay for interest.

Interest rate example in 1st year:

• 500.000 Euro at 1% pa. = 5.000 Euro / 1st year
• 500.000 Euro at 2% pa. = 10.000 Euro / 1st year
• …

Remaining debt and interest calculation p.a. (per year)

Let’s say that after year 1 you have repaid 5% of the loan amount, i.e. 25,000 euros. This leaves a remaining loan of 475,000 euros. The basis for the interest calculation in the following year.

Interest rate example in the 2nd year:

• 475.000 Euro at 1% pa. = 4.750 Euro / 2nd year
• 475.000 Euro at 2% pa. = 9.500 Euro / 2nd year

Conclusion: 1% more interest adds up

The difference adds up with each year your loan runs.

• 1st + 2nd year at 1% pa = 9,750 euros interest
• 1st + 2nd year at 2% pa. = 19,500 euros interest

Fixed interest rate briefly explained

At 5% repayment pa. you assume (without unscheduled repayment) a loan with a term of 20 years. This is where the fixed interest rate comes into play.

That is why the fixed interest rate (borrowing rate) is so important. Here, the interest rate is fixed for period X and remains unchanged within the period. After X years, you then have to look for follow-up financing.

So you know more about the required equity, repayment and your interest block. On the subject of maintenance of villas, in countries like Spain, I have written an extra guide.

Negative effects at a glance:

1. Equity investment
2. Repayment
3. Interest
4. Maintenance – more in the guidebook:

Buy and rent villa abroad

Yield, season, service charges, renovation, financing… Villa buy and rent – A popular model among many owners, especially villas located in places where others go on vacation. For example, Spain as a hotspot, especially Mallorca, Ibiza but also Marbella, depending on the personal ties you have to one of the places.

Who wants to rent out his villa, buys not only for personal use, but also classically as an investment with the goal that the property generates income. So much (yield) that the costs are covered (loan repayment, interest and maintenance of the villa). Learn here everything you need to know about the return on investment, the seasonal rental of a villa, your utilities from maintenance to pool service and facts about financing. Also, the Spanish property tax when buying real estate.

• Buy and rent villa

Real estate agents: Villa Portfolio Ibiza, Mallorca & Marbella

As a real estate agent I am on canvassing for clients, we provide exposés, schedule viewings and help with the buying process on site, from notary to financing if needed. A small selection and choice of my villas in Mallorca, Marbella and also Ibiza, you can find here:

• Lukinski: Villas

Buying and renting property: Let’s start…

I took the trouble to browse through many, many articles by Alex Fischer over the weekend. Alex Fischer should be you, if you my blog lies, in any case a term. Very new is also my article on the tax coaching experience (worth reading!), in advance already appeared Finance: 7 basic rules. Articles likeUnderstanding Taxes, & Building Wealth are also based on this. Today, the focus is on real estate and investments, from buying, to financing, to taxes.

Learn here step by step how to buy and rent real estate.

From here on all links are external and lead to the blog and videos of Alex Fischer.

The advice articles and videos are all absolutely free. I have learned so, so much, applied: Real Estate Investment, Financial Structures and Tax Optimization (turning taxes into personal wealth). In case you’re wondering who is Alex Fischer, here’s some more info on the real estate investor (20,000 m² privately owned in Düsseldorf alone).

Procedure, basics and definitions

Are you buying your first property? In Alex Fischer’s real estate dictionary you’ll find all the important definitions, from annuity loans to interim financing.

• Real Estate Encyclopedia

If you have already delved into the topic of buying real estate, then you can also take a direct look at the procedures of real estate transfers here.

These are the 4 main criteria you need to start small as a real estate investor. First, you need a stable and regular income. For singles this is currently about 2,000 euros per month, for married couples 2,500 euros, in addition you should calculate 300 per child and month. You need a positive balance of assets (tip: it helps to ask for a credit report). Your existing equity counts for the bank decision. You should have 10-12%, with a good bank consultant.

PS: You will learn much more about equity in the chapter “Financing”.

• Buying real estate: Expiration

What do you have to watch out for? Avoid mistakes

Knowing the process of buying real estate is one aspect. Another is the things you need to pay attention to, whether it’s a condo, house or townhouse. For one, as a landlord, break even on the rental income you’re going to make. Certain decisions can take away tax benefits, you’ll also have to deal with renovation backlogs at some point. And… Weren’t we just at the point of buying a property? Here, too, there are many other aspects to consider, especially: “location, location, location”, as well as equipment and area of the property.

• Buying real estate: What to look out for?

This results in many, clearly nameable buyer mistakes. The most important, you get here:

• Buying property: Error

Property valuation: location, building fabric and equipment

Stop. Before we get to the property valuation, here is the key factor for the property purchase price:

Location of the property

Location, location, location: Purchase price factor

Already in one district the purchase price for a property can be extremely different. While one street is cheap, the real estate prices 3, 4 streets further are already twice as high, three times as high, as can be seen in a moment still example Berlin. Central purchase price factor is first always the situation of the real estate. Not for nothing there is the winged saying “location, location, location”, in the world of real estate agents.

As a real estate buyer (aka buyer, investor) you have 3 factors:

1. Macro situation: Where in Germany?
2. Meso location = Where in the city?
3. Micro-location = Where exactly is the property located?

Macro situation: Where in Germany?

The macro location is quickly explained, for example, if you look at the difference in purchase prices between Munich in Bavaria and Bochum in NRW. In Munich, one currently pays 1.8 million euros for a relatively standard house at 185 m². In Bochum, a similar property would currently be on the market for around 230,00 euros. The 7.8-fold of the real estate price in Munich. In Berlin, the purchase price for a house in the range of 185 m² (with the same equipment) is between 749,000 euros in the suburbs up to 2.3 million euros in Zehlendorf, and up to 16.7 million euros for a villa in Grunewald – but more on that in a moment in the Meso location.

Example macro location: Berlin

Meso-location: Where in the city?

The meso situation looks at the individual parts of a city. Let’s look at the example of Berlin and the extreme difference between the districts. While individual villas in
Berlin-Grunewald cost up to 16.7 million euros, one gets in Berlin-Köpenick for “only” 2.8 million euros a whole apartment house, with 1,400 m² of living space, 1,200 m² of land and about 48 rooms, distributed among the residential units.

Example macro location: Berlin-Grunewald

Micro-location: Where exactly? What is nearby?

The micro-location is important for owner-occupiers, but also for landlords. It not only answers the question of the exact location (street, house number, floor). The micro-location also answers the question, what is in the vicinity of the property? Schools, restaurants, transport connections to other districts, cities, as well as supermarkets and cinemas. The meso location would have direct access to all important, everyday needs, as in this example: From the café around the corner, to the supermarket, to the pharmacy.

Example macro location: Berlin-Grunewald, Teplitzer Straße

Valuation: What is the maximum purchase price?

If the price is too low, you are giving away cash (your assets). A purchase price that is too high minimizes your profit as a landlord. Assessing the right asking price is one of the most important aspects of buying a property. Before we get deeper into the subject of valuation of location, building fabric, market value & Co., here is an overview of real estate valuation on Lukinski. Tip. In the individual articles on houses, apartments, multi-family houses and land, you will find much more detailed information on all types of real estate appraisal procedures.

The better the valuation of the property, the lower the service charges and business tax. Therefore, I recommend you also deal with the valuation of real estate. PS: By the way, this is also the reason why many people hire a real estate agent. If you accept a purchase price immediately, you will probably pay more. You could write that off as a learning curve. However, if it’s 5 figures, it quickly becomes painful for many. You could have invested the money in a renovation or modernization, for example a new heating system. That would have two positive side effects:

1. Purchase price minimization through concrete points of criticism (e.g. building fabric)
2. Value increase through refurbishment / modernisation in resale

So not only do you pay less, you can also use the available assets to increase the value of your property. Therefore, remember: The more detailed you check the property, the sooner you can minimize the purchase price. You can learn more about what is important in the valuation of real estate here in the lead article.

• Value real estate

If you already have a specific property in mind, then I recommend you read the individual articles on land, apartments, houses and so on.

• Rate apartment
• Rate house
• Rate apartment house
• Valuing property

Should you wish to value an exclusive property, discreetly, we recommend a no obligation valuation by an expert. If you would like to contact us, you can find our contact details here: Contact.

Letting: yield, ancillary costs, refurbishment and vacancies

For the purchase decision you have to consider the rental yield: We come to this in the next step, the renting. If you are looking for a property that you want to buy directly and rent out (so that tenants take over your repayment), then the rental yield is the tool to calculate.

Calculate rental yield: For landlords, basis of valuation

If you’re looking for rented properties, make sure you look at the rental yield. The rental yield is the annual income divided by the purchase price x 100. There are different calculation methods, I’ll just say the simple one, so:

Annual rent divided by purchase price x 100

Your score will be a percentage. For condos, it should be a percentage of 4 to 6. Otherwise you are buying too expensive.

In more expensive locations, yields go down a bit, in worse locations, they go up a bit.

This is the range in which you recognize cheap real estate!

Renting: location, ancillary costs and taxes

If you want to become a landlord, many factors come up. They are the reason for your success or failure. Apportionment of service charges, service charge billing or even what to do if the tenant suddenly stops paying? You buy an apartment building and want to live in it yourself, what do you do? Very important: taxes. There are a lot of things you absolutely have to pay attention to when it comes to taxes. You can find out what these aspects are in the next link. Here Alex Fischer explains everything about renting real estate.

As previously discussed under “location, location, location”, as always there are many, many factors: you need to look as thoroughly at the neighborhood, is there vacancy? What is the overall vacancy rate? Lots of empty housing units are not a good sign. Find out exactly what the local sales prices are to get a feel for the local market value. You can find these tips and more here:

• Renting

Co-income to tax benefit

In this article, you’ll learn how you can get another six for every euro you pay with certain income properties. A comprehensive look at the economic part of real estate, both for cash investors, those who buy real estate for investment reasons, and owner-occupiers. To summarize briefly and simply in advance: Imagine getting something for 10,000 euros that has a value of 100,000 euros.

So not 100,000 euros in 30 years, you get a value of 100,000 euros immediately.

Example: you buy a Porsche worth 100,000 euros, but you only have to pay 10,000 euros for it and you already get this Porsche delivered. You don’t have to pay the 10,000 euros immediately, but little by little. How would you like that? Get to know the principle of real estate.

• Real estate balance sheet: income to tax advantage

Own use: What do you have to pay attention to?

You want to buy an owner-occupied property? Then new factors await you. But don’t worry, you’ll get the first answers to owner-occupancy right here. In fact, it’s not just a matter of a few elements that come into play when buying and choosing a property, there are a few points you need to consider before you consider buying one. You can find out what you need to look out for when buying property for your own use here.

• Own use
• Equity through own use

The case of owner-occupation! Absolutely read as owner-occupier

However, a big BUT is also needed here for potential owner-occupiers. Because there is a danger:

Danger with owner-occupancy: owner-occupancy can lead to you eventually finding that you’re only – I mean only – working for your home or condo.

… then you realize that you have given up your freedom. So not just tips on owner-occupancy, here’s another very good article (with explanatory video) on the subject of traps for owner-occupiers. Many owner occupiers make a mistake. They buy an owner-occupied property thinking “that’ll solve their pension problem”. After all, “once my property is paid off, I won’t have to pay rent”. This is definitely true and definitely an important pillar, according to Alex Fischer. However, his experience over the last 15 years shows that many owner-occupiers, once their property is paid off, have to sell it again! Why?

Owner-occupier: “Finally rent-free! Yes, but… First of all, let’s get back to this issue: imagine that you are now owner-occupiers. You reduce your consumption, you furnish your property, you invest in it, you pay off the instalments to the bank, you buy less nice clothes, no longer the newest car, because you simply want to pay off your owner-occupied property as quickly as possible. When it’s paid off, you may find yourself in a situation where you have to sell it.”

• Case of own use

Own use in rented apartment building

Making use of an “owner-occupied residential unit in an otherwise rented apartment building”: Almost all property owners have heard of the idea. In terms of apartment buildings, many like “three party houses”. The plan is then to occupy one apartment yourself, usually the apartment on the ground floor because it has a garden. The other two are then rented out.

In fact, this is how you can get tenants to help you pay off your owner-occupied apartment.

That’s basically a good idea, if you can find something like that.

• Own use in apartment building

Financing and equity

Tomorrow we continue with part #2 on “Buying and Renting: Investing in Housing”. You’ll learn so much, from loan agreement to loan agreement, real estate financing with and without equity, and the big question of building wealth through real estate: why invest?

Joint Ventures in Real Estate: Owning and Selling, Co-Ownership

Several owners and one wants to sell – what now? For various reasons, people buy real estate together. When selling real estate from collaboration or inheritance and estate, before private sale or through a real estate agency, many questions arise. From simple topics to the selling price up to more complex tax questions, like:

• What is a joint venture?
• What is fractional ownership?
• Is it possible to sell co-ownership?
• What is the co-ownership share?
• Who is the owner of the house?
• What does ideal co-ownership share mean?

The possession of several persons on a thing defines itself briefly in such a way:

• Classic examples: Single-family house or shared condominium

Joint Venture in BGB § 741

§ 741 Community by fractions – If a right is jointly entitled to several persons, the provisions of §§ 742 to 758 shall apply unless the law provides otherwise (community by fractions).
The most important keywords in the joint venture are for you:

• Land
• Voting
• Land Register
• Right of First Refusal
• Voting Right
• Declaration of Division
• Administration Agreement

Back to the Wiki: Real Estate

Let an Apartment or House – the Right Tenants and Rental Contract

How do I set the rental price correctly? How does my advertisement appear attractive? And how do I draw up a suitable and fair rental contract? A future landlord asks himself all these questions, because in order to successfuly rent out a property, a lot of knowledge and experience is required. But if you follow a few simple steps, you will make the leap to a successful landlord and profit from the earnings.

The most important things:

• Landlords have many duties and tasks, including, for example, organizing the change of tenant or the annual preparation of a service charge statement for the tenant
• The rental price can be set with the help of the local rent index, but it must always be taken into account whether or not the affected region has a rent brake
• The rental contract should be fair for both tenant and landlord and regulate all important points
• When choosing the right tenant, it is not only the sympathy effect that counts, but also other important factors, such as creditworthiness
• The expose should contain all important facts about the property and convince with professional pictures
• The visit is possible both as open and closed date and depends mainly on the number of interested parties
• The apartment will only be handed over after payment of the rent deposit and the first month’s rent. At this time a protocol is made, which documents meter readings and existing damages.

The daily rental business – tasks of a landlord

If you want to be a landlord, it must be clear that a property does not maintain itself. Also the landlord has tasks and duties to maintain the tenancy. These tasks include, for example, the annual preparation of an ancillary cost statement for the tenant, the annual presentation of the economic efficiency for the tax office, the organization of a change of tenant, renovations or repairs to the property and, of course, participation in the owners’ meeting. Depending on the initial situation, a large part of the tasks can be taken over by an administrator, but the task as a landlord always involves a time consuming effort. If you want to keep it as low as possible, you should try to sign an unlimited rental contract in order to achieve a long-term commitment.

• Landlords have many duties and tasks
• These include, for example, the organization of tenant changeover or the annual preparation of a service charge settlement for the tenant

The right rental price – the rent index

The right rental price is not only crucial for success, but also enormously important for the rental. When determining a suitable rent, you should always orientate yourself on the local rent index of the respective city. This offers criteria such as location, size, year of construction or equipment of the apartment, according to which the own property can be categorized. If this has been done successfuly, the so-called “local comparative rent” can be read. This provides an orientation value for landlords. If there is a rent brake in the region concerned, the rent for the property may be 10% above the “local comparative rent”. If there is none, the rent may be 20% above the “local comparative rent”.

Exceptions will only be made if it can be proven that otherwise losses would be made. However, if the rent exceeds 50%, the law assumes “usury”, so there are limits here too. The rent must always be determined in the individual case. Depending on the region and the property, it is advisable to adhere to the “local comparative rent” or to exceed it up to a reasonable percentage.

• It must always be considered whether the affected region has a rent brake or not

The rental contract – fair for both parties

The preparation of the rental agreement is very important and it is usually not easy to rely on the first best form from the Internet. Depending on the regulations, the contract is either landlord or tenant friendly. Ideally, it should be both and cover all important points. For example the regulations over the keeping of domestic animals, the cleaning obligations of the tenant, the renovation work when moving out, the subletting possibilities or however the height of the additional expenses pre-payments count for this. Avoid here unclear regulations or regulations which are clearly disadvantageous for the tenant.

At best, the lease is fair for both parties and leaves no room for interpretation. Prefabricated rental agreements from the tenant or landlord protection association are usually very detailed and well suited, but should always be checked in individual cases. If there are any open questions or problems, a professional real estate agent can help and provide remedy. Our guide helps: real estate agent.

Finding the right tenant – agreeableness and important key data

Choosing the right tenant is not always easy and can cause many problems and costs if a wrong decision is made. When choosing a tenant, not only the sympathy effect should be considered, but also important key data should be obtained. These include a credit check and obtaining receipts for the last income, a tenant self-disclosure and a certificate of no rent debts. If all these key data are to your satisfaction, the personal impression of the potential tenant is important. A personal meeting at the viewing appointment can clarify many questions and help with the decision. The sympathy effect should not be ignored, because a good relationship between tenant and landlord helps to avoid future problems and disputes and to achieve a long-term lease.

• The rental contract should be fair for both tenant and landlord
• A rental contract should regulate all important points

The exposé and the viewing appointment – the way to the ideal tenant

The Exposé is the A and O with the tenant search. This is the first thing the potential tenant sees of the apartment and must therefore make a good first impression. Beside the most important basic data, like size, equipment, rent, additional expenses and situation landlords are obligated to publish the most important key data of the energy document of identification in the real estate announcement. Additionally, special features of the property should be highlighted here. A roof terrace, stucco or a fitted kitchen provided by the landlord represent characteristics increasing the residential value and justify for example a higher rent and arouse additionally the attention of prospective customers. Please note the correct indication of the number of square meters in the exposé. Since the rent is measured at this, it must be correct, since tenants can demand otherwise also afterwards still too much paid mine. When calculating the rent, it is especially important to consider roof slopes, low ceilings and the correct calculation of terraces or balconies.

The inspection can be done in different ways. With many prospective tenants, an open viewing is possible, in which all potential tenants view the apartment on their own and then submit a small application with a self-disclosure, a covering letter and other documents. Based on these you can then select a tenant. In addition, closed inspections are possible, with which you can show the dwelling to the prospective customers and clarify so again the advantages and get to know the persons better. Which type you prefer is left to your individual taste.

• The exposé should contain all important facts about the property and convince with professional pictures
• The tour is possible both as open and closed appointment

The correct apartment handover – handover protocol and the deposit

Before the apartment is handed over, the rent deposit and the first monthly rent should already have been transferred by the tenant. If this is not the case, this fact already makes the tenant’s payment morale doubtful and is usually not a good sign. If the handover of the apartment takes place as planned, a handover protocol is kept. In this protocol, any existing suggestions in each room of the apartment, the cellar, the garage and the attic are documented. Additionally, the meter readings of electricity, water and gas are documented. When handing over the apartment, it is advisable for each party to take a second person as neutral as possible as a witness and to ensure the existence of the protocol in case of disputes in court. However, the protocol should be signed by both parties in any case after leaving the property and kept in the documents.

• The apartment will only be handed over after payment of the rent deposit and the first monthly rent
• At the time of handover, a log is created that documents meter readings and existing damage

The most important questions about renting a house or apartment

Especially for inexperienced or beginners, the topic of real estate rental raises many questions. Who is the right tenant? How do I draw up a fair rental contract? What are my duties as a landlord? With these questions the support of an experienced real estate agent helps, but this option always involves the loss of money. To make sure that all questions are clarified for you and that you successfuly start off as a landlord, the experts of Lukinski answer the most important questions about renting a house or apartment.

What are the most important contents of an advertisement?

The advertisement should contain all important information about the property, such as size, location, equipment, energy performance certificate, floor plan, rental price and additional costs. Especially important, however, are the photos, which convey the first impression of the property to interested parties.

Must the rental agreement be checked by a notary ?

The rental agreement does not have to be checked by a notary. At most, he can check whether all existing regulations are legally permitted, but the document does not have to be notarized by him.

Is the apartment handover certificate mandatory?

The apartment handover protocol is not required by law, but it is usually done anyway. It protects both the tenant and the landlord and is only beneficial to both parties.

Must the rent be determined by the rent index ?

The rental price must be determined by the rent index. This helps to keep the prices within a certain range and to ensure justice for tenants.