We come across property owners that wish to rent out their homes temporarily on a regular basis. They’ll contact one of our offices and involve us in this process. Reasons could be that the owner has to temporarily move abroad for work, or they want to move in with their spouses on a trial basis, or perhaps they’re finally embarking on a long awaited trip.
It’s very important to consider certain aspects thoroughly before you leave your prized possession and can experience a carefree rental period.
The tenancy agreement
But isn’t that just some standard document that I can find online and fill out with the tenants information? No! It’s crucial to use the right model tenancy agreement and to apply it correctly. In the Netherlands, the laws surrounding rent are very complicated, can change at any time and tenants are very well protected. These laws always prevail that which you have agreed upon, even if done in writing.
It even goes so far as to say a tenancy agreement is what they call “free of form”. This means that you can even agree on matters such as a starting date and a rent price verbally or through WhatsApp. By law, those agreements mean a tenancy agreement has been concluded. In the event of a dispute, the tenant can invoke these agreements. Agreeing to things only to decide against them is very risky. Especially in the current property market, where a tenant will not just be put aside if an agreement is already in place.
Very important: a tenancy agreement must (legally) match your specific situation and wishes. Clauses can be included that give you the option of returning to your home if necessary. A well drawn-up tenancy agreement prevents legal complications and protects you in cases such as a tenant refusing to move out. In most cases, this is custom work.
Utilities and insurances
Depending on how long you’ll be gone for, it’s good to think about the utilities. If you’re leaving for a longer time, it’s wise to have the tenant apply for utilities in their own name. The tenant will then be responsible for the payments during the rental period. Settlement will take place between tenant and the supplier, making it so that you don’t have to get involved.
Another important aspect is the insurance on the property. If you’re renting our your own home, it’s essential to arrange the right insurances. The risks involved with others living in the property, such as liability, damages and legal disputes, will be properly covered.
Professional advice
Finally, it’s highly recommended to seek professional advice for renting our your home. An experienced, specialised letting agent can help you find and thoroughly screen the right, high quality tenant. Don’t forget that certain tenants and their employers only search and/or rent through renowned (international) platforms or letting agents. A private owner doesn’t always have access to every type of tenant. Besides, the correct implimentation of the right type of rental agreement, arranging of utilities and advice on the right type of insurance is custom work.
A good rental agent will draw up a thorough inspection report at the check-in. This carefully documents the state of your property, to cover liability. During the rental period, the landlord is to ensure the rental payments are made in time, any necessary repairs, damages or calamities are taken care of properly, the rental increase is calculated and communicated in a timely manner, you supervise the property and you can be reached by the tenant.
Ultimately, the correct termination of the agreement, a pre- and the end inspection are necessary to wrap things up at the end of the rental period and to repay the deposit under any set-off of certain costs. This maintenance could also be left in the hands of a good property manager.
Questions, or are you curious about our vision on the rent of your property?
