Expats, Moving to Germany

Renting in Germany — The Ultimate guide for Expats

New country, new home, but finding a new place to live in Germany can be tricky, especially for Expats. In this short guide we are helping you go through this process.

How to find the right accommodation

As Germany’s economy continues to grow more people take a similar decision like you to relocate. This obviously create a competition and as a result, scoring the right flat in Germany can be tricky.

Starting the lookout

First thing’s first the most common way to look for a place is online. The portals that have most of the listings are:

Often Keywords and concepts that you will find

  • Kaltmiete — Basic (cold) rent with no furniture or operational costs
  • Warmmiete — The basic rent plus utility and maintenance fees
  • NK/BK: Nebenkosten/Betriebskosten — additional costs for water, heating and insurance
  • Kt: Kaution — this is the security (Guarantor) deposit that must be provided to book the place before moving in. This is usually equals to 3 months rent.
  • WG: Wohngemeinschaft— shared flat
  • Provisionsfreie — commission free (no broker fee)
Photo by Naomi Hébert on Unsplash

What information you new Landlord will Ask for

Preparation is the key and as an important advice, you are expected to have the bellow documentation with you if you found a place that you really liked and want to book right away.

  • Proof of ID, a photocopy might be handy of your EU ID or Passport
  • Your last 3 payslips or 3-Months dated bank statements
  • Your SCHUFA Score* (see bellow)
  • A rental-release confirmation from your last Landlord (Mietkostenfreiheitsbescheinigung) — This is a simple letter from your last Landlord, confirming that you have payed out all of your previous rent
  • Application Form — This is usually attached by the estate agent when you receive your application
  • Rental Contract (Mietvertrag)—expect you contract to be in German

About SCHUFA, this is your German credit score. If you are not familiar with the concept, a credit score is a numeric representation of the creditability of your profile, based on your financial history. To start having a SCHUFA score, you would first need to register to the local registration office, read more about it here.

Image for post
Financial Marketplace for Expats | Banking, Mobile, Insurance | OCYAN

Be smart and take care that hefty Deposit

Arguably one of the most difficult parts of securing a place to live in Germany is the fat deposit that you will need to pay, which sometimes can reach up to an equivalent amount of a 6-Months-rent. That, an in addition to the costs of relocation can challenge anyone’s’ cash capabilities.

At OCYAN you can connect with providers that offer you secure rental deposit guarantees, household and third-party liability insurances that can lower vastly the upfront costs, your stress and the hassles of the relocation.

Image for post
Financial Marketplace for Expats | OCYAN

Previous ArticleNext Article

Leave a Reply