When you rent out your property, it is important that you are aware that, unlike when you sell, you do not relinquish your obligations when you sign the contract. On the contrary, many obligations only begin here. But what are they?
One of your most important duties as a landlord is to maintain the property. If you are not on site yourself to take care of wear and tear or defective technology, it is advisable to hire a caretaker for this. You can also stipulate in the contract that your tenant must take care of minor cosmetic repairs himself. However, this only applies to fixtures and fittings, such as door and window handles, light switches or door frames, and only if they are not typical signs of wear and tear. Damage to pipes and cables as well as damage due to construction defects, on the other hand, are always the landlord's responsibility. They are also responsible for ensuring that the radiators in your property work. If there are failures here, you have to take care of replacement or repair.
Furthermore, you must provide your tenant with rubbish bins and provide a gritting service in case of icy roads in winter. However, you can also contractually outsource this duty to the tenant. However, you are obliged to check whether the tenant actually complies with this duty.
Costs such as waste disposal or a gritting service are part of the ancillary costs. For these, landlords usually take a monthly lump sum as an advance payment. Once a year, you have to reconcile the payments made here with the actual costs incurred and present your tenant with a detailed service charge statement. Depending on whether the costs turn out to be higher or lower than the payments made, the tenant receives a refund or has to make an additional payment. You must prepare the statement no later than 12 months after the end of the settlement period.
When your tenant moves in, you are also obliged to provide him or her with a confirmation of accommodation. Since 01.11.2015, tenants need this certificate when registering their residence. The tenancy agreement alone is no longer sufficient. The tenant must use it to prove that he or she has actually moved into the flat. The confirmation must contain your name and address, the tenant's move-in date, as well as his or her name and the flat address. You can often find forms for this on the internet. You must issue the certificate no later than two weeks after your tenant has moved in. If you do not do so, you will be fined.
Before you decide to rent out your flat, it is important that you carefully consider your duties as a landlord and, if necessary, get help from a professional so that you are not overwhelmed with the tasks afterwards.
Don't have time to take care of the duties of a landlord? Contact us now. Together we'll find a solution.
