A lot of the time renting out a place easier said than done. There could be some rules or requirements that you didn’t keep in mind when you first started looking for tenants. Especially expats need to make sure everything, other than signing a contract, is taken care of. This blog series will give you insights of everything you need to keep in mind when you’re renting out your place in Amsterdam. This week we will talk about rules and regulations. There are, among other things, laws regarding rent protection, prices, canceling a contract and rent increases. Always check beforehand if you are allowed to rent out your place. This is easiest to check in the terms and conditions of your mortgage or the owners association. You’ll find here if you are allowed to rent out your property and the rules and regulations attached to renting out. When you rent out your place, it could have effects on your mortgage, which you should definitely keep into account.
Temporary rental
There are more than enough reasons to think about temporary renting out your place. For example, you’re planning on moving in with your girlfriend and you want to try it out for a couple of months first. Or your boss offers you a temporary job abroad. You could also purchase a property for investment or you are planning to buy a new house. These are all causes why you would be confronted with double charges, which can easily be solved with temporary rental of the property. Your house won’t be empty and you give someone an opportunity to live in a great and finished home, that’s what we call a win-win situation!
Renting out to expats
An easy and excellent choice would be to rent out to an expat. Expats are usually high-educated employers from big, international companies. These expats are planning to work and live in the Netherlands for a certain amount of time. The company usually pays the rent of the expats, which is why you are sure of your monthly income. This expats are most of the time busy with their job and usually only use the property to eat and to sleep. This is why you will experience no or little inconveniences while renting to an expat.
Contract type A, B, C or D?
You probably expected this already, but there are a few different types of contracts. For example, one contract is valid for at least one year and in the other contract the tenant may terminate the contract one time prematurely. There are even very flexible contracts, which are convenient when you temporary move abroad. Read more about the different types of contracts and which one fits your situation best, here.
Property management or no property management?
This is not even everything! You still need to choose if we will take care of your property management as well. Emergency repairs, non-paying tenants, general maintenance and also taking care of the entire administration regarding your property. Life of a landlord is not always easy. If you don’t really want a headache from all these responsibilities, its much easier to let somebody or some company take care of all the management regarding the property. Property management can be organized in three types of categories: administrative management, financial management and technical management. Whichever choice you make, it will provide a lot of convenience, peace and tax benefit.
Made a choice! Now what?
In the meantime, perhaps together with a real estate agent, you’ve figured out which plan suits your situation the most. Now its time to check what else you need before signing papers and contracts. Its better to be prepared, so you won’t come across any sudden surprises or setbacks. Everything about the way our agents work, what you need to keep into account, different prices, energy labels and rental opportunities, you can read in our blogs.
I want more!
Do you still have any questions, ideas or do you need a little bit more information about this subject? Send an email to amsterdam@expathousing.com and we will reach out to you as soon as possible!