When can you rent out your apartment?
You have just bought an apartment, but after a few months you decide it is time for something else. Renting out your apartment sounds like a good idea so your investment can pay off in the long run. Can you do that so soon, and what should you watch out for when renting out your apartment? We find out.
You have just bought an apartment, but after a few months you decide it is time for something else. Renting out your apartment sounds like a good idea so your investment can pay off in the long run. Can you do that so soon, and what should you watch out for when renting out your apartment? We find out.
The reason you ended up here was probably mentioned in the introduction. You bought an apartment not so long ago and now want to rent it out already. Can you simply buy an apartment and rent it out after just a few months? The short answer: yes, you can. However, there are certain costs associated with renting out an apartment.
How to rent out an apartment: what should you watch out for?
We said above that you may rent out your apartment at any time. In principle, you can rent out your apartment the day after purchase, but that may not be the best decision. This has to do with registration duties, which you must pay when .
Incidentally, people used to speak of a small deed and a large deed, but that arrangement has no longer applied since June 2018. In short: you had, for example, a small deed (5% registration duties) when buying your first own home and a large deed (10% registration duties) when buying a property you were going to rent out.
The amount you must pay depends on the purpose of the property, and you guessed it: that amount is higher when you want to buy an apartment to rent out. Finally, Flanders, Wallonia and Brussels each have separate registration duty rates and their own conditions for each category.
Costs of renting out an apartment in Flanders in 2022
Anyone who in 2022 buys their first home in Flanders with the intention of living there themselves pays 3% registration duties. This is the arrangement that came into force on 1 January 2022. may also apply if you bought the property at the end of 2021, because it can sometimes take several months before the notarial deed is drawn up. So check that date carefully.
The main rule for the early rental scenario is as follows: the buyer(s) must establish their main residence in the property within three years of purchase. Under the new Flanders arrangement, there is no minimum duration for domiciliation. If you want to rent out the apartment after just a few months, this can be done without increased registration duties as long as you have been domiciled there.
Costs of renting out an apartment in Brussels in 2022
Anyone who in 2022 buys their first home in Brussels with the intention of living there themselves pays 12.5% registration duties. In Brussels you can also benefit from a discount in the form of an exemption. If the purchase price of the property is below €500,000, you pay no duties on the first bracket of €175,000.
The main rule for the early rental scenario in Brussels is as follows: the buyer(s) must establish their main residence in the property within two years of purchase and must maintain it there uninterrupted for five years. If you want to rent out the apartment after just a few months, the exemption lapses and you must pay extra.
Costs of renting out an apartment in Wallonia in 2022
In Wallonia, registration duties are somewhat more complex. Anyone who in 2022 buys their first home in Wallonia with the intention of living there themselves pays 6% registration duties on part of the purchase amount. That amount is either €164,099.49 or €175,039.47 in a municipality with so-called .
The main rule for the early rental scenario in Wallonia is as follows: the buyer(s) must establish their main residence in the property within three years of purchase and must maintain it there uninterrupted for three years. If you want to rent out the apartment after just a few months, the reduced registration duties on the first bracket lapse and you must pay extra.
What other costs should I take into account?
Before you rent out your apartment, it is important to know when you can officially start renting out your property. One of the crucial steps when renting out an apartment is drawing up a property condition report. This report records the condition of the property and is essential for avoiding future conflicts. But ?
When can I rent out my apartment?
We return here to our initial answer: you may rent out your apartment at any time… but there may be a price tag attached. Especially when you want to rent out a property in Brussels or Wallonia early on, costs can add up. In Flanders, on the other hand, it is much easier to rent out your first apartment without paying extra registration duties. As a general rule, we recommend waiting until the has ended so that you do not have to pay extra registration duties.
Will no extra registration costs apply to you, or are you willing to bear them yourself? Then be sure to read our article on the of renting out your apartment. If you have finally found a tenant, SNDQ software can help you manage your property with peace of mind. Sign up here for the !
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