Family with children Archives - ℄ Real Estates Wed, 04 Oct 2023 11:49:43 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 The 9 biggest mistakes made by landlords: loss of rent, vacancy, tenant turnover & Co. https://lukinski.com/the-9-biggest-mistakes-made-by-landlords-loss-of-rent-vacancy-tenant-turnover-co/ Wed, 04 Oct 2023 11:49:43 +0000 https://lukinski.de/the-9-biggest-mistakes-made-by-landlords-loss-of-rent-vacancy-tenant-turnover-co/ These are the 9 biggest challenges for landlords: From rent default to legal obligations. Because renting real estate is a challenging business, and you as a landlord will also regularly face issues such as loss of rent, tenant problems, and legal requirements. In this article, we’ll take a look at the top ten challenges you […]

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]]> These are the 9 biggest challenges for landlords: From rent default to legal obligations. Because renting real estate is a challenging business, and you as a landlord will also regularly face issues such as loss of rent, tenant problems, and legal requirements. In this article, we’ll take a look at the top ten challenges you face and show you ways to successfuly overcome them. Tip. Lukinski for Landlords. See our Real Estate Germany.

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

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]]> Alex Fischer’s “Homeowner” Master Course: Coaching, Experience, Content https://lukinski.com/alex-fischers-homeowner-master-course-coaching-experience-content/ Mon, 05 Jun 2023 07:41:18 +0000 https://lukinski.de/alex-fischers-homeowner-master-course-coaching-experience-content/ As a homeowner:in, you face a variety of challenges and hurdles that can wear on your nerves. From finding reliable tenants to dealing with maintenance costs and legal issues, property ownership can be an emotional roller coaster. But despite all the difficulties, there are solutions and ways to successfuly navigate these issues. In this master […]

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]]> As a homeowner:in, you face a variety of challenges and hurdles that can wear on your nerves. From finding reliable tenants to dealing with maintenance costs and legal issues, property ownership can be an emotional roller coaster. But despite all the difficulties, there are solutions and ways to successfuly navigate these issues. In this master class by Alex Fischer, you will be equipped with expert knowledge and practical tips to optimize your real estate investments, reduce financial burdens, and experience greater long-term success and enjoyment as a homeowner.

Master Course at a Glance: “Homeowner

Still thinking about whether it’s worth booking coaching? Read here everything important about the contents of the master course “Homeowner” including course overview, conclusion, experience and final evaluation!

In advance, another tip, order now for free, the bestseller on financial freedom and real estate investment “Richer than the Geissens”!

Before we get to content, an important question:

Who is the master course for? Typical problems

You own real estate property (or want to prepare yourself in the best possible way)? Then you may know these typical problems from vacancy to administrative expenses.

  • Vacancy: Difficulties in fully leasing properties
  • Rent arrears: problems with tenants unwilling or unable to pay
  • Maintenance costs: challenges in financing and organizing repairs and renovations
  • Mold: problems with moisture and mold in rental apartments
  • Tenant turnover: frequent changes of tenants that cause additional effort and costs
  • Legal matters: Difficulties in complying with rental laws and contract negotiations.
  • Financing: challenges in obtaining and managing loans and mortgages
  • Tax aspects: Complexities related to real estate taxes and tax returns
  • Administrative expenses: Time and effort required for general property management.

Topics and learning areas in coaching

Watch out! There is a lot of content! Let’s start with all the facts:

Topics Learning
The rental nomad: Risk and protection Learn how to protect yourself from rental nomads and stop worrying.
Save costs when buying building materials With this tip, you can save up to 50% on your material costs for renovations.
Find cheap craftsmen Learn how to find and choose affordable and reliable craftsmen.
Full leasing – basic knowledge Learn the basics of full rental and how to generate additional income.
Fully rented – Fitted kitchen Show you how to always achieve full occupancy and a high return on a tight budget.
ARGE rent assignment Tips to make sure your rent comes in safe as houses, even for ARGE tenants.
Reduce heating costs by up to 50% Discover simple methods to reduce heating costs for yourself and your tenants by up to 50% without costly renovations.
Rent reduction due to mold – Incorrect ventilation Solutions and tips for fixing mold problems and reducing rent.
Reduce energy costs This almost free trick can save you more on heating costs than expensive exterior insulation.
Rent reduction due to mold – wet cells Learn the causes of mold in wet rooms and the cheap solution for it.
Tax tips for massive savings Learn how the right buying and selling strategy can reduce your tax burden to near zero.
Real estate encyclopedia of the basics Get the most important real estate terms explained simply in a downloadable real estate glossary.
Make craft work cheaper Show you how you can save a lot of money when repairs are needed.
Full rental – steam shower Learn how you can be unrivaled with a unique offering for tenants.
Faster to contract conclusion, through fast Schufa self-disclosure Speed up the process of Schufa self-disclosure to avoid rental nomads.
Tenant self-disclosure Get a legally compliant tenant self-disclosure to select reliable tenants.
Real estate financing: market / back office in the financing approval process at banks Learn how the financing approval process works with banks.
Real estate tax benefits monthly, through entry income tax card Learn how you can receive monthly tax benefits from your investment properties.
Real estate financing: recover equity and save taxes Show you how to get back the equity you put in and save on taxes when financing real estate.
Organize the real estate accounts Learn how to organize your real estate accounts so you never spend more money than you take in and increase profitability.
Higher rental income Learn simple and cost-effective ways to reduce your tenants’ utility costs to increase your rental income.
Smooth tenant changeover Learn how to make a tenant transition go smoothly to avoid stress and extra work.
Budgeting of maintenance costs Learn how to pay maintenance costs without financial constraints and keep them low.
Certificate for future tenants Get a legally compliant certificate for future tenants to avoid problems.
The right way to deal with the construction deduction tax Learn everything you need to know about construction withholding tax to save time and money.
Real estate financing: difference between nominal and effective interest rates Learn what the difference between nominal and effective interest rate means depending on the type of loan.
Solvency: how to build and maintain it Learn how to balance your income and expenses and build solvency.
Trading time for money – this is how you stop doing it Learn how to invest your time to generate more free time and money.
Your opponents on the way to financial freedom Overcome obstacles and achieve financial freedom.
Renovation costs calculated correctly Get a spreadsheet to quickly and easily calculate the cost of renovations.
Who fills their pockets with demonetization (inflation / currency crash)? Learn who is affected by demonetization and how you can protect yourself against it.
Convincing object photos: this is how it’s done Learn how to create compelling photos of real estate.
The two important return ratios Learn how to calculate the return on investment.
Real estate financing: fixed/amortization suspension loan vs. annuity loan Compare different types of loans for real estate financing.
Real estate financing: difference between nominal and effective interest rates Learn what the difference between nominal and effective interest rate means depending on the type of loan.
Creditworthiness Basics Learn how to build and leverage your credit score.
Proper heating and ventilation Learn how to properly heat and ventilate to save on energy costs and prevent mold growth.
Real estate financing: amortization schedule annuity loan Learn how repaying a property with an annuity loan works.
Rental agreements = possibly doorstep transactions Learn what mistakes can cause a lease to be declared void.
Negligent half-knowledge about inflation and the consequences thereof Learn everything you need to know about inflation, its effects and how to deal with it.
Real estate financing: types of equity Learn more about the different types of equity and their importance in real estate financing.
Proper heating and ventilation Learn how to properly heat and ventilate to save on energy costs and prevent mold growth.
Real estate financing: amortization schedule annuity loan Learn how repaying a property with an annuity loan works.
Rental agreements = possibly doorstep transactions Learn what mistakes can cause a lease to be declared void.
Negligent half-knowledge about inflation and the consequences thereof Learn everything you need to know about inflation, its effects and how to deal with it.
Creditworthiness Basics Learn how to build and leverage your credit score.
Renovation costs calculated correctly Get a spreadsheet to quickly and easily calculate the cost of renovations.
Who fills their pockets with demonetization (inflation / currency crash)? Learn who is affected by demonetization and how you can protect yourself against it.
Convincing object photos: this is how it’s done Learn how to create compelling photos of real estate.
The two important return ratios Learn how to calculate the return on investment.
Real estate financing: fixed/amortization suspension loan vs. annuity loan Compare different types of loans for real estate financing.
Real estate financing: difference between nominal and effective interest rates Learn what the difference between nominal and effective interest rate means depending on the type of loan.
Solvency: how to build and maintain it Learn how to balance your income and expenses and build solvency.
Trading time for money – this is how you stop doing it Learn how to invest your time to generate more free time and money.
Your opponents on the way to financial freedom Overcome obstacles and achieve financial freedom.
Renovation costs calculated correctly Get a spreadsheet to quickly and easily calculate the cost of renovations.
Who fills their pockets with demonetization (inflation / currency crash)? Learn who is affected by demonetization and how you can protect yourself against it.
Convincing object photos: this is how it’s done Learn how to create compelling photos of real estate.
The two important return ratios Learn how to calculate the return on investment.
Real estate financing: fixed/amortization suspension loan vs. annuity loan Compare different types of loans for real estate financing.
Real estate financing: difference between nominal and effective interest rates Learn what the difference between nominal and effective interest rate means depending on the type of loan.
Solvency: how to build and maintain it Learn how to balance your income and expenses and build solvency.
Trading time for money – this is how you stop doing it Learn how to invest your time to generate more free time and money.
Your opponents on the way to financial freedom Overcome obstacles and achieve financial freedom.
Renovation costs calculated correctly Get a spreadsheet to quickly and easily calculate the cost of renovations.
Who fills their pockets with demonetization (inflation / currency crash)? Learn who is affected by demonetization and how you can protect yourself against it.
Convincing object photos: this is how it’s done Learn how to create compelling photos of real estate.
The two important return ratios Learn how to calculate the return on investment.
Real estate financing: fixed/amortization suspension loan vs. annuity loan Compare different types of loans for real estate financing.

You will learn this and more in the “Homeowner” Master Course. Here are 3 important topics briefly explained, from the course of Alex Fischer, which I would like to introduce briefly:

Full leasing basic knowledge

This lesson provides the fundamental knowledge to achieve full occupancy while generating additional income. Strategies and techniques are presented to avoid vacancies and increase demand for rental properties.

Save costs when buying building materials

In this course, you will learn how to achieve significant savings on renovation projects by making smart decisions when purchasing building materials, flooring, fixtures, electronics and other materials. With this tip, you can reduce material costs by up to 50%, increasing your profitability.

Real estate gains immediately tax free

In this lesson, you’ll learn a strategy that allows you to realize real estate gains immediately, tax-free, without having to wait for the usual 10-year holding period. You’ll learn how to build wealth without having to pay taxes by skillfully applying the “live-through” strategy. This lesson will provide you with valuable insights and legal information to optimize your real estate investments for tax purposes and thus generate more profit in the long run.

Conclusion Master Course: My Experience

Alex Fischer ‘s “Career Power” Master Course offers an invaluable opportunity to take your professional career to the next level. Covering a wide range of topics from teamwork to understanding bosses’ expectations to effective time management, you will gain valuable knowledge and practical advice to increase your effectiveness and maximize your success in the work environment. This course will give you the tools and strategies to achieve your professional goals and gain the prestige and recognition you deserve.

Invest in your professional future and take on the challenge of optimizing your career path. With the Career Power Master Course, you can expand your skills, realize your potential, and take your career to the next level. Take this opportunity to accelerate your success and achieve the career of your dreams. You have the potential to achieve great things – let Alex Fischer’s Career Power Master Course be your catalyst for professional success.

My evaluation of the Masterclass

From my experience from the master course, I would conclude with:

4.7 / 5.0 stars

More coaching from Alex Fischer?

Presented, detailed, with content, chapters, learning fields, with conclusion and evaluation. Everything you need to know.

Individual Masterclass Coaching:

Over 10,000 participants in the coaching sessions:

Real Estate Investor Mindset:

Risk Minimization:

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]]> Apps real estate: recommendations for tenants, landlords & real estate investors https://lukinski.com/apps-real-estate-recommendations-for-tenants-landlords-real-estate-investors-2/ Fri, 03 Mar 2023 11:30:05 +0000 https://lukinski.de/apps-real-estate-recommendations-for-tenants-landlords-real-estate-investors-2/ Real Estate Apps – These apps are for all apartment hunters, landlords, sellers or real estate investors. They offer tools and calculators to calculate key figures around the real estate or you can find your dream property for personal use or as an investment. All apps in an overview with the respective download link can […]

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]]> Real Estate Apps – These apps are for all apartment hunters, landlords, sellers or real estate investors. They offer tools and calculators to calculate key figures around the real estate or you can find your dream property for personal use or as an investment. All apps in an overview with the respective download link can be found in this list.

Real Estate Apps: Knowledge & News

With the following apps you will always stay up to date when it comes to real estate. Apps for beginners and for advanced users.

Real Estate Experience App

The Immobilien-Erfahrung.de app offers you all the real estate knowledge you need about capital investments, building management, upgrading, as well as financing and management. With the practical calculators, you can find out about ancillary purchase costs and many other key figures. In the real estate wiki, you will find over 1,000 technical terms simply explained.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Download from Google Play Store & Apple App Store.

IZ – Real Estate Newspaper

With IZ-Immobilienzeitung you always stay up to date with news from the German real estate industry. Find out everything about yield opportunities or investment properties in one app.

Is the app free of charge?

  • Yes, the app is free
  • Subscription needed

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

House & Ground Magazine

The magazine “Haus & Grund” provides up-to-date information on topics in the real estate sector for tenants, landlords and property owners. For example, it covers political developments, news relating to tax law or tenancy law, and administrative topics. Readers have the option of marking articles with simple bookmarks and categorizing them later.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

Real estate apps: online tools and calculators

With these tools, you can calculate practical key figures relating to real estate quickly and easily. From equity and return, to usable space and floor area – learn everything with these apps.

Real Estate Guru (my app): Learning App & Calculator

The Immobilien Guru app provides you with over 20 online tools related to real estate. In doing so, you can access a variety of practical key figures that can serve as decision-making aids or advanced knowledge. The app allows you to quickly and easily calculate savings plans for reserves, equity and return on real estate.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

Rented.com

The real estate app Vermietet.de has been specially developed for landlords and property managers. The app offers a simple, secure and time-effective way to organize all aspects of property management, regardless of the type of portfolio – whether it’s a condominium or an apartment building. The app’s features include legally compliant service charge statements, secure rental agreements, valuation, and officially verified templates for reminders and rent increases.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

Immocation.com

The Immocation.de app offers a simple and clear calculator that gives you quick and precise information about the return on investment before you buy or sell a property. In addition, the app offers further tools that provide you with detailed information on the subject of real estate. Thanks to the user-friendly user interface with simple sliders, operating the app is uncomplicated.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

Deka real estate funds

The Deka Immobilienfonds app provides you with comprehensive information on all important details of the Deka Group’s property funds. With this app, you have quick and easy access to information such as the unit price, property information and background information on purchases and sales. The app’s push functions keep you up to date with the latest developments.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

Real estate apps: buy, sell, rent & lease

With the help of the following apps, you are sure to find your dream property. Whether it’s your own home, a capital investment or a vacation property – with this selection of apps, you’re sure to find what you’re looking for.

Lukinski Villa

Lukinski’s Villa App provides you with offers and an overview of vacation properties and investments in Germany, the Balearic Islands and the United States. By simply downloading the app, you can easily search for a property that suits your needs.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

Immoscout24

The Immoscout24 app offers you the possibility to find or offer properties for sale, rent or lease. With the diverse filter options, you can search specifically for your desired property. The app also offers useful functions such as relocation and financing planning to help you make decisions and implement your plans.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

Immowelt

The Immowelt real estate app offers you the possibility to search for properties to rent or to buy in Germany, Austria and Switzerland. You can easily find the right property for your needs by using various filters such as cost, living space or number of rooms. In addition, the app offers practical features such as a map view for the search or the possibility to request a Schufa report directly in the app.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

Immonet real estate

The Immonet app helps you find the right property exactly as you want it. With the interactive map functions, you can precisely draw the search radius and use the advanced GPS functions. With simplified search criteria such as “balcony” or “garage”, you can easily filter for suitable properties. In addition, the app offers the integration of the Apple Watch.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

Trovit Immo

Trovit Immo is a simple real estate app that allows you to quickly and easily find the right property to buy or rent. The search radius function can be customized and extensive search criteria can be used to efficiently narrow down the search. Thanks to push notifications, you always stay up to date.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

Von Poll Real Estate

The Von Poll real estate app offers you an easy way to discover a wide range of properties. With the owner dashboard, you can sell or rent your own property. In addition, the app allows for a quick and easy online property valuation to determine the actual value of your property.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

Real estate search engine.com

The Immosuchmaschine.de app is an application specially designed for real estate searches. It combines the most popular German real estate portals and allows you to search and compare on many portals at the same time. With the search agent function, you can specify your search criteria and the search agent will notify you as soon as a suitable property is found.

Is the app free of charge?

  • Yes, the app is free

App Download: iOS & Android

Here you can find the app in the AppStore (iPhone) and Playstore for all Android smartphones.

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]]> Sell property Bonn: land, apartment & apartment building https://lukinski.com/sell-property-bonn-land-apartment-apartment-building/ Mon, 10 Jan 2022 15:27:22 +0000 https://lukinski.de/sell-property-bonn-land-apartment-apartment-building/ Selling real estate in Bonn – Do you want to sell your apartment, your apartment building or your land in Bonn? Learn everything you need to know for a successful real estate sale in our guide. Also: tips on real estate agents, property valuation & Co. Welcome to Bonn! Click here to go back to […]

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]]> Selling real estate in Bonn – Do you want to sell your apartment, your apartment building or your land in Bonn? Learn everything you need to know for a successful real estate sale in our guide. Also: tips on real estate agents, property valuation & Co. Welcome to Bonn! Click here to go back to the overview: Selling real estate.

Sell property in Bonn

The standard of living in Bonn is high, the infrastructure is modern and the cityscape is bursting with history and creativity. The former capital of Germany also delights with its multitude of cultural offerings. After all, not only the birthplace of Ludwig Van Beethoven can be found here, but also the famous Poppelsdorf Palace, as well as the former palace of the local electors.

Don’t waste time, get started right away! Learn all the steps here.

Here is the map of Bonn:

Bonn: Map & Location

The federal city of Bonn is located directly on the Rhine, not far away and borders on Königswinter, Meckenheim and Bornheim.

Here is the mesolage of Bonn:

Bonn is particularly beautiful in spring. Then you can admire the Bonn cherry blossoms in their full glory in the old town:

Here the city hall of Bonn:

Soon more about selling real estate in Bonn!

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]]> Notice of own need: Termination for own use after purchase of a rented property https://lukinski.com/notice-of-own-need-termination-for-own-use-after-purchase-of-a-rented-property/ Mon, 11 Oct 2021 07:55:38 +0000 https://lukinski.de/notice-of-own-need-termination-for-own-use-after-purchase-of-a-rented-property/ Notice of own need – You buy a rented property and now want to move in yourself? This is also possible with a notice of own need. The prerequisite for this is that you either have comprehensible reasons yourself or a beneficiary moves into the property. Find out here everything you need to know about […]

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]]> Notice of own need – You buy a rented property and now want to move in yourself? This is also possible with a notice of own need. The prerequisite for this is that you either have comprehensible reasons yourself or a beneficiary moves into the property. Find out here everything you need to know about the deadline for terminating a personal need, the important reasons and the beneficiaries.

Notice of termination of own use: Definition & Explanation

So if you acquire a property that is already rented out, this does not mean that you have to continue renting it out. On the contrary: In some cases, you can even move into your new property shortly after the purchase. For this, you must then prepare a notice of own need and submit it.

Deadline for the declaration of own need: 3 to 9 months

Let us now take a step-by-step look at the details of such a termination.

Demonstrable reasons for own use: desire for children, old age & Co.

You must therefore provide reasons for the termination of the tenant. Not every reason is also a reason for own need. Instead, you must be able to show that you have to move into the house or apartment for compelling reasons and have no alternative. Illness, old age or pregnancy can be such reasons.

Here are some examples:

  • Desire to have children
  • Living space extension
  • Professional move
  • Replacement apartment
  • High age
  • Disease

Notice for beneficiaries: From children to grandma

In addition, you can also terminate the tenants if a person benefiting you urgently needs the living space. This includes grandchildren, life partners and also children-in-law and parents.

Beneficiaries include:

  • Children
  • Parents
  • Grandparents
  • Siblings
  • Grandson
  • Nieces and nephews
  • Children-in-law and parents-in-law
  • Spouse
  • Life partner

Cousins, great-nephews and -nieces, as well as step-grandchildren also belong to the group of beneficiaries. In some cases, you will need proof of the exact background and the relationship between you and the person.

Reading tip: Everything about buying real estate

If you want to learn even more on the subject of buying a property, whether owner-occupied or capital investment, numerous articles, guides on the subject of rented vs unrented, as well as checklists, all free and 24 hours online available, with us!

Apartment, house, apartment building, everything for real estate beginners!

Now new on Immobilien-Erfahrung.de:

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