Everything you need to know about renting a home is here. We have covered key points about renting a home in Germany. From document needed and contract types to deposit-free renting and online property portals.
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As an expat, you may have traveled to Germany before. However, relocating to the country is an entirely different ballgame. Whether you are bringing your pet or your family along, moving permanently or even long-term can come with some difficulties. Finding the ideal accommodation in Germany also involves paying a rental deposit. Ocyan helps you both finding the perfect home and securing a free-deposit renting. Let’s find out how.
Is Renting an Apartment in Germany Better Than Buying a House?
The good thing about moving to Germany is that your options are pretty much balanced. That is not the case with most other countries where opinions swing strongly in favor of either buying or renting a home.
Almost 50% of the population in Germany lives in rented apartments. Moreover, if you are moving to an urban area, detached family houses are not easier to find. Over the last decade, both rents and house prices have skyrocketed in Germany. Investing in a property is an ideal choice if you are relocating long-term.The duration for which you stay in the country should be long enough to pay for the purchase costs. On the other hand, if you don’t intend to stay for more than three years, renting is the viable alternative.
Besides, the amount of rent will depend on the city you are planning to move. For instance, people spend almost 30% of their salaries on rent in the city of Munich. Other cities with high rental costs include Hamburg, Berlin, Freiburg, Ingolstadt, Stuttgart, and Frankfurt.
What if you find the perfect house solution but you can’t afford it because it’s near a top-rated area, or because your liquid availability is limited? No worries, Ocyan has the right solution for your problem! Keep reading to know more about the rental deposit support.
Online Property Portals Vs Agents
The agent fee is usually paid by the landlord. But if you are the one taking the agent’s help for renting a home in Germany, you will have to bear the costs.
Finding a suitable property could get stressful. In that case, paying an agent (Makler) is the way to go. However, in this digital age you can find properties in Germany from any part of the world.
The perfect housing solution at hand
Ocyan has made a list of useful links where you can look for your ideal home. The list is divided it into different categories – furnished/ unfurnished, short/ long stay, ideal for students and so on, according to your personal needs. Check out the complete list of online property portals.
What Is A Rental Deposit?
The rental deposit varies with the area you reside in. The security deposit is what you pay for three months’ rent.
While German rental laws protect existing tenants from a sudden rental increase, the burden may fall upon the new tenants instead. Even though you have the option to pay the deposit in installments, most landlords won’t agree to that. They have an upper hand due to a highly-competitive real estate market in Germany. This makes it even more necessary to get deposit insurance.
What if you didn’t have to pay the security deposit at all?
Meet Kautionsfrei! –
One of the most profound benefits of getting a rental cover is not paying the deposit at all! All you have to do is find the right insurance company that offers renters insurance.
How does the rental deposit guarantee work? You pay a small premium to the insurance instead of paying the renter a deposit of up to three months’ cold rent. Simply order online the guarantee certificate using the application form and give your householder the certificate instead of the deposit. Subscribe for free on Ocyan and save yourself the rental deposit with Germany’s most secure rental guarantee.
Kautionsfrei is one of the best providers for the service rental deposit. If unfortunately, you get entrapped in a phishing scam, Kautionsfrei protects you from that as well! They cover you if by any chance you encounter an online-banking fraud. Besides, you are protected in case of:
- Water damage
- Burglary and theft
Among other advantages there are:
- Free online quote
- No fixed terms
- Cancel anytime
- No hidden costs or additional fees
- Free Support 24 h
To get a free online quote and benefit from other advantages, access Kautionsfrei through Ocyan. The subscription is free.
What’s Included in a Rental Contract?
Before you sign a rental contract, you must carefully read every clause about the rights and obligations concerning yourself and the landlord.
The contract will usually have:
- Term of notice (usually three months)
- Deposit amount plus VAT
- Length of agreement
- Conditions for increases in rent
- Agreement on redecoration
- List of inventory in furnished apartments
- General house rules (such as no smoking)
- Additional costs (internet, electricity, gas)
- Address of the property (register your address)
The rental contract, if signed, is legally binding. It may have legal terms that you may find difficult to comprehend. In that case, don’t hesitate to seek legal advice to help you understand the contract. It’s never wise to just skim through it!
Types of Contract
There are two types of rental contract you will need to sign in Germany, namely:
- Fixed-term contract: It has specific move-in as well as move-out dates mentioned. The fixed-term contract is more suitable for students.
- Indefinite contract: It doesn’t have a fixed duration. Hence, it falls upon you to end the contract by giving notice to the landlord. Also, the landlord cannot end it without a solid reason.
Should You Rent A Furnished Or Unfurnished Apartment?
The decision of renting an unfurnished or furnished apartment again depends on your duration of stay. Apartments that are available for long-term stays usually come unfurnished. Going for a fully furnished place in Germany may be the appropriate choice for relatively shorter stays. If you find an unfurnished place, you may have to take care of everything from light fixtures to curtains and floor coverings.
It is wise to carefully check your rental agreement. Some landlords may require you to return the apartment completely unfurnished when you leave. That means repainting the walls, removing light fixtures and carpets.
To Sump Up
German rental laws are mostly in your favor. However, knowing the crucial details about renting a home in Germany can save you a lot of trouble in the future. For additional concerns, you can always contact the Deutscher Mieterbund – the national tenants’ association.
Are you ready to achieve financial freedom through Ocyan?
Hello From Ocyan!
Ocyan is your go-to moving buddy if you are relocating to Germany.
We can help you with:
- Connecting with the right banks
- Health insurance
- Finding an insurance policies provider
- Mobile contract
- Money transfer
- Credit options
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