To rent out your property: what do you need to know?
The choice to rent out your property is different for every person. Perhaps you are looking for a nice investment or you want to rent out the house meanwhile it is for sale. There are many types of reasons and that is why we are happy to help you making the right choice.
When you think about renting out your property, it is good to first make a good assessment of the advantages and disadvantages that renting contains. We have already put a number for you in a row.
- Financial income from the rental
- Social control of the property
- The house is occupied. Electricity, water, heating and drains will be used
- Less chance of vandalism due to occupation of the building
- Municipal taxes are paid by the tenant
- If the house is for sale: an inhabited house is easier to sell than an uninhabited house
- Payments can be done late or even not at all
- Mortgage interest deduction expires
- The risk of damage and normal ware and tare increases
- The tenant is better protected by law than the landlord. The lease cannot just be terminated
- You run the risk of vacancy of the property when tenants terminate which could involve the results of your return
- If the house is for sale, you have no control over the condition of the house during a viewing
Rent out your property.
Renting out your home involves many questions. There are, after all, a number of uncertainties. Who will be living there during the rental period? Do I rent my apartment unfurnished or furnished? What about payments, damages, maintenance and delivery? What are the risks? We understand that you have such questions and would like to answer them for you. A few of them are answered at our website, but we prefer to see you in a personal interview.
The Hospa team loves short lines of communication, which makes it easy for us to switch quickly when it is necessary. You have a permanent contact person, but other colleagues also know how to help you in every situation. We are fully committed to renting out your property as soon as possible. After all, it is your interest that there are no shortages in the rental income. We work on a ‘no cure no pay’ basis, therefore a quick, but especially good rental is also our priority.
We would like to get you informed about the rental process.
As a first step, we would like to make an appointment with you to get to know each other and to inform you about the process, the risks, possible missteps and the expectations of the rental market. We work on the basis of ‘No Cure no Pay’. We only charge our service when our work is done.
If you choose to have your property rented out by us, we are firstly very pleased to work with you. We have many expats and business customers who are looking for a rental property. We would like to make an appointment with you to take pictures in the house in order to the online presentation on our website, Pararius.nl and if necessary Funda.nl. We also offer the property on our social media channels and directly with our business partners.
We will gather interested parties from all channels. We make arrangements with them to view the property. We do this personally as much as possible, so that we can get a good impression of the person during the visit. If that does not work then we will combine the interested parties. The appointments for the viewings will be made with your acceptance. We also keep in touch about the candidate’s experience after the visit.
It is important to find a tenant for your house as quickly as possible, but we think it is even more important to find a good, loyal and suitable tenant. Someone who treats your home with care and treats the home as it is theirs. And no less important: a stable tenant with an adequate income, decent employment contract and potential to rent the house for a long time. After all, this ensures you of the longest possible rental income without vacancy. That income is your interest and therefore also ours. A good screening of the new tenant is our highest priority. We will of course inform you about our findings.
When a candidate tenant is accepted by you, we can start with the drafting of the lease contract. We use the lease agreement drawn up by the ROZ (Council of Real Estate), model 2017 (link to PDF) with accompanying general provisions (link to PDF). Once the agreement has been drawn up, we will send it to you for verification and by agreement we will make an appointment to sign the contract together with the tenant. Do you want to know more about the agreements and possibilities? Click here. (link agreements)
Together with the tenant we plan a suitable moment to make the handover. We make a complete hand over report with photos and hand over the keys.
After the transfer we ensure, when desired and necessary, the connection with all facilities in the home for the tenant. Furthermore, we take care of all matters concerning the rental of your property through our management module. We provide commercial, technical, administrative and financial management. We do this for only € 75, – per month. You can read more about it on our management page (link to page management).
Answer your first questions.
We don’t doubt that you still have a lot of questions concerning the rental matters. Below we try to answer your possible first questions.
How do I deliver my rental property?
Three types of housing are distinguished in the rental market: shell, unfurnished and furnished. There is no direct regulation about the delivery of the house. You decide how the house will be delivered, possibly in consultation with the tenant. However, we do notice that the market for furnished houses is larger and tenants often do not want to invest in, for example, the purchase of a floor when the house when it is temporarily rented out. Expats are generally more often looking for fully furnished homes.
What kind of tax do I pay about the rental income?
None. No tax needs to be paid on the rental income. You pay OZB and the owners charge of municipal taxes. The tenant pays his part of municipal taxes (waste, sewerage and water tax).
What if damage has occurred?
Damage is always annoying but can happen to anyone. However, a distinction is made between normal ware and tare that cannot be recovered from the tenant and deliberate damage that can be recovered. It is important to have a good overview of the status of the house prior to the rental period and the status at the time of delivery.
Which insurance policies do I have to take out?
The existing building insurance policies remain. These costs are for the account of the lessor. Please note that your insurer must be aware of the rental. They may request a small increase in the policy.
Why do I need to enable a broker?
That is not necessary. You can also choose to rent out your property yourself, but this brings more risk than when you give the order to a broker. Brokers have access to reliable websites and a large business network where the house can be offered. They can also screen the future tenant on their background, finances and any more things.
Who should I inform about the rental of my property?
At the very least, the VVE and your insurer must be aware of the rental. For properties with a mortgage, it also requires the bank to request permission for the rental.
What happens to my mortgage interest deduction?
You are not entitled to mortgage interest relief from the home that you rent out.
The Association of Owners?
When renting your home, you must also inform the VVE of the rental if necessary. Sometimes it is necessary to have the house rules signed by the tenant in name of the VVE.