Are you planning on moving to a new home but are you not ready to let go of your property in Amsterdam? Why not make some extra money and rent it out?
My Home Amsterdam explains how you can rent out your property, without the use of an agent.
Renting out your property in the NetherlandsFirst, check with your bank if you are allowed to rent out your home. Once you know you are good to go, you’re ready to get your house on the market. The following steps will guide you through the process of listing your property, selecting a tenant and your responsibilities as a landlord.
Make your property ready for rentalThe property has to be in working condition: think of things like water, the heating system, a functioning kitchen and a working toilet and bathroom. Additionally, you must make sure that the internal finishings are up to date and maintained.
Furnished or unfurnished? If you are planning to rent out to fellow expats, we advise you have your apartment “soft” furnished with at least the following basics: a bed, closet, dining table, washing machine, couch and equipped kitchen.
Research and priceYou can start by doing your research on platforms like Funda and Pararius. Both are prominent and licensed rental platforms that are used by real estate agents in the Netherlands.
Search for similar properties in and around your neighbourhood. It’s best to compare your property with apartments that have similar rooms and are roughly the same size (by area) and condition. Not all the apartments you see online will rent out for the asking price, so it is advisable to compare several places to get a realistic price indication.
Tip: Our advice is to always try to keep your price realistic and, when possible, even slightly lower than the market price. This will attract more people, giving you the flexibility to choose an ideal tenant.
Photos and descriptionIt’s important to have clear photos of the entire apartment. You can do this yourself, or you can hire a professional photographer. You should also provide a clear description of the apartment, your rental expectations and who you think the property will suit.
Whilst this step, along with the previous two, can be done by the homeowner, it is sometimes advisable to get professional help. A retail agent can help make sure you’ve considered the essentials and a property surveyor will certify that your property is in a suitable condition to rent it out.
Listing your property onlineUnfortunately, renting out your property through websites like Funda or Pararius is not allowed unless you are a real estate agent. However, in today’s internet era, it is possible to list your website online using Facebook groups for free. For this, you will obviously need a Facebook account. You can search for housing and renting groups by typing the city name and rent keywords in the Facebook search bar.
At the end of this article, you can find a link to a Facebook group where you can post your property.
Research and plan appointments for viewingsNow that your apartment is listed online and the enquiries are rolling in, it’s important to filter and research before you make any appointments.
It’s always good practice to ask your future tenants to send you the following information about themselves:
From when they’re looking to rent For how long they’re looking to rent A short biography Their working situation Tip: Do not plan too many viewings in one day, take time for yourself but also for the viewers, so you don’t get overwhelmed. Plan a viewing day with at least 15-30 minutes in between each appointment. This should give you and the home seeker enough time to see the place and get to know each other.
Screen and select a tenantAs soon you have established a connection, inform the viewer that in order to make an offer, they need to send a copy of their working contract and proof of income.
Tips for screening a potential tenant:
Read all documents carefully Use google to research your possible tenants Let the tenants come to you Consult a rental agent if you need assistance Draw up a rental agreement Before you draw up a rental contract, it is important to know that there are different types of contracts. In most cases, you’ll start with rental contract B, which is for a fixed period for a maximum of two years.
Inform your owners’ association (VVE) and, when needed, let the tenants sign the “huishoudelijk reglement” – the house rules for the building.
Key handoverBefore you hand over the keys, it’s a good idea to make an inventory of everything in the apartment.
Take photos of the state of the apartment Check all utility meters Write down a list of all the items that will be included in the rental Make sure the renters sign the inventory This a very important procedure, especially when your tenants decide to move out, as it allows you to compare the state of the apartment before and after their tenancy.
Property managementSo, now that you found yourself a tenant, what about managing the place? If you plan to manage the property yourself, make sure you maintain a healthy tenant / landlord relationship.
The following points are crucial to managing your property successfully:
Make sure your maintenance is on order and up to date Find a trusted handyman that can keep an eye on arrears Be available in case of an unforeseen emergency Collect rent and make sure all bills are paid on time Make an agreement with tenants about mail Keep up to date with rental laws Join My Home Amsterdam’s facebook group, which has over 14.000 active expat home seekers, and post your rental property now.
My Home Amsterdam offers property management and rental packages, providing homeowners with a flexible way of renting out and maintaining their property, as well as financial and technical services. Curious to know more? Get in touch with My Home Amsterdam for a free consultation.