Tips on becoming a first-time landlord in Germany

Hallo *,

does anyone either rent their apartment or part of it here in Germany? I am just wondering about the contract side of things, what rights the Mieter and the Vermeiter have.

What type of bank account should one put the deposit in? I know there is a special type of account, I just don't know the actual details. If anyone has a sample contact that they could attach or point me to that would be most handy.

Any other pointers would be great. It's not that urgent as the situation probably won't be changing for me for a couple of months, but I'd like to do a bit of research, and learn how to cover my ass.

Cheers,
6783kqe

See the Renters & Home Owners Rights discussion and give the relevent people a call.

Does anybody have a standard Mietvertrag as a word doc that they could send to me? I have searched high and low and only see the .pdf or expensive pay to download versions via yahoo & google. Your help is much appreciated.
Thanks.

Nath

For any contract to be "Official" in Germany (In the eyes of the courts) it needs to be in german. You can supply an english version also, but it must be a translation of what the Germany one says.

Should a problem happen with the renter and the contract be in dispute, only the German version of the contract will be accepted by law. Been there, done that.

Cheers Darknight. My German is ok enough, I just need a guideline and will work from there.

Anyone know what the interest on a €840 deposit would be per month roughly ?

Who has to set up a Mietkautionkonto ? Mieter or the Vermeiter ?
I talked to some guy in the bank today and he said that the Mieter has to go and give the money to his bank and ask for it, then he give me a slip saying it's in there, and it can't be released unless I say so, but I thought it was the other way around. :confused:

Normally the landlords sets up the account and puts the cash into it or gives the tenant the account number to make the lodgement. At least that has been my experience in renting places.

You can also ask your bank for an IOU type contract between you and the landlord. Don't know what there called in German, but they are quite common. No special accounts need to be opened by either party and quite easy to get... You just need to get the landlord to accept it..

The IOU Konto you mention is a Mietaval. Which is basically a debit order you are giving to your bank in preference of your landlord. The Landlord then have the right to demand from your account directly to the bank the agreed amount. It stops you having to stump up cash for a Kaution, but the service is not free. Not 100% sure, but think the cost is something like 1.5% on the nominal amount per year.

Nath

I think you mean a Bankbürgschaft. Most banks have a fixed charge to set them up (around €50) and 2-3% of the value of the guarante per year. They are less common nowadays and not many banks readilly offer them...

YL6

How to be one of those thieving bastard landlords?

Just kidding on that, but seriously, looks like we are going to be relocated out of country for a few years and rather than sell our flat I'd like to rent it out. Any tips on being a landlord in Germany, you know usual stuff, how to find good tenants, what if they don't pay etc etc

thanks in advance rob

Topics merged by admin

try using a houseverwaltung - they take a small cut and take care of everything for you.

that would be really nice as we will moving to Spain (fingers crossed)