Buying property in Germany to rent out sometimes

Hi, I have put an offer in on a house in Zell as I love the area so much and decided as the prices were good, why not buy...
To cover some of the costs I am hoping to rent out the house when I am not using it, what are the tax consequences of this?
The estate agent is very helpfull and is arranging bank accounts for me and will be with me when I sign in a couple of
weeks. From what she has said everything seems okay, although I thought it would be nice to hear from other people of their experiences.
Is there any thing I need to know/do/be weary of? any advice will be appreciated.
Thanks

There are loads of threads on this site about buying property here - all aspects of it, good and bad, tax and the rest - a lot on the Finance board but also scattered across the region boards. Key point to bear in mind is that the landlord-tenant relationship runs differently here (for legal and other reasons). Generally more favourable to / protective of tenant than UK law.

Hi Lorraine.

You should, of course, double-check any info or advice here but ...

... It sounds like you will be 'resident' in the UK, paying income tax there normally? If so, I think you pay tax on all income in the UK in the normal way. If you are an employee in the UK, using PAYE with your employer deducting tax at source, you might additionally have to do an annual self-assessment return, due to the 'other income'. I believe it is residency that determines where you pay tax on personal income. There might be other 'taxes' you have to pay in Germany, I'm not sure, but someone here will probably provide information.

You should also ask your estate agent. I guess you might be using German Property Services, maybe with Brigitte? If so, I'm sure she'd be able to advise you. She's very good.

By-the-way, we might be farly close neighbours, as we are moving to Rachtig - about 10 miles upstream from Zell! We'll be there permanently. If you need someone to prepare the property between lets, we might be able to help out till you find your feet. No worries if not, just an offer.

Hi Spirit, thanks for the info, I am working full time in uk and hoping to do holiday lets in the property when I am not using it myself.
Yes, I am using Briggitte and your right she gives an excellent service and is very good and extremley helpful.
Thanks for the offer of looking after the property, I am not sure exactly yet how I am going to work it, as the next door neighbours have also
offered as they currently own the house, (They are also english) I will sort something out when I get the keys.
Keep in touch as it always nice to know people in the area, Like yourselves, eventually I would like to live there fulltime as it is such a lovely place,
Im looking forward to going back in a couple of weeks.
Thanks Lorraine

Will do. Incidentally, is it the 17th of June when you sign? If so, you may well meet my wife, as she's there on that day to sign contracts etc too. I understand from Brigitte that someone is coming in from the UK at the same time and that they will be travelling down to the Mosel with my wife - and wondered from your first posting whether it was you? If not, I'm sure we'll get to meet in the future.

Best regards, Spirit

No, not me, Im agraid. Im not going back till the 23rd it was gonna be the 1st July, but I have managed to get an earlier flight now as after speaking to Brigitte, it still takes a couple of months after the signing, so I want to start the process asap. As I am eager to get in the house.
By the way are you using your own solicitor? I wasnt really sure how the process worked in Germany and if I would need one. Are you getting one, I wasnt planning to, but my mum has been watching some programmes on Tv lately and is getting a bit paranoid about me getting ripped off, so I said I would look into it, but from what I have read the Notar is suppose to act on everyones behalf and wont let you sign if you are not 100% sure about everything. Has anyone any advice, shall I get one or not?
Thanks Lorraine

Hello Lorraine, the notar acts for both parties and you should have no worries about buying here. Auntie Brigitta will look after all of your interests too. Welcome to Germany.

We're going with the notary only. My experience so far in Germany has been nothing other than people being trustworthy,so I hope it continues and that I'm not being naive.
As you say, the notary spells out everything - in English too - and gives a full opportunity for questions. The translation of the contract we've received in advance from Brigitte is also very clear and she, of course, is there to hold hands. We've learned to trust and rely on her.

Other folk might have a different view. You pays your money and takes your choice. Good luck with it all. It'll be good to have someone else embarking on a new adventure who we can share experiences with.

BR Spirit

Hi Bergadler - good to see you're still active and helpful. I forgot to say a proper thanks for your detailed response to one of my earlier posts. I took your advice and spent a week in the middle Mosel in early March. It was beautiful then, so, I guess, it will be even more so in the summer season. I got to see not only the 'tourist' bits, but also took time to check-out the infrastructure - Globus and the like. It was very useful. I'm also spending two weeks there in early July, before moving in September.

kind regards, Spirit

Hello Spirit, welcome to you too. Glad to be of some help. If you are unsure of anything else, let me know. I have experienced most things from getting BBC and ITV for my wife, to ordering gravel from the builders merchants over the last 2,5 years so any problems,let me know and all the best with the move....Bergadler

I agree with you on the first part but the second?
Our notary did everything in German, in fact, I understood that the Notar is not allowed to do it in anything but German.
He does, however, have to satisfy himself that all parties understands everything, so we had to have a certified Dolmetscherin, even though his English was probably as good as hers!

Thanks for all your replies, you have been very helpfull, its nice to hear other peoples experiences, I spoke to Brigitte and she
is going to send me a copy of the contract to give me a chance to look over it before I sign on the 24th, which will be good.
I am really looking forward to owning the house in Zell and who knows, maybe seeing you all at one of the wine festivals there.