You have found a tenant, so a good investment! No, unfortunately it is not that simple. Do not just count yourself rich, because the loan also has to be paid off. So what is smart investing? Don’t get yourself too deep in debt. You can prevent this by ensuring that the monthly payment is lower or at least equal to the generated rental income. The notary costs must then also be charged, which are added to when you purchase a property. Smart investing is ensuring that you have a good return at the end of the journey.
Get to know the market
What are the current selling prices? What do tenants want from a home? What efforts should we definitely make? Anyone who wants to invest successfully in real estate must first and foremost get to know the market. A real estate agent can assist you in this. For example, you can get advice on the Flemish Housing Quality Standards that you must meet. What kind of properties is most popular with tenants and much more. For gombak apartment this is important.
Take the cadastral income into account
Cadastral income (KI) plays a role in the registration fees to be paid. Rental income is not taxed, but you do pay forty percent of the indexed cadastral income annually in taxes on your second gombak condo.
Rent for at least five years
If you sell the home again within five years of the purchase, you have to pay a capital gains tax of approximately 16.7 percent on the difference between the purchase and resale price. That is a lot, so you would do well to keep the property and rent it out for at least five years. Ask a real estate agent about the type of rental contract, are you going for a short-term contract or the 3-6-9 contract.
Find good tenants
A landlord may only ask a prospective tenant those questions that are necessary to determine whether the candidate will be able to meet his tenant obligations.
A real estate agent can conduct a more thorough screening so that your property gets the tenant it deserves. Unfortunately, sooner or later almost every landlord will have to deal with problems with tenants. Even if you have a very thorough screening done beforehand. It is important that you do not do it all yourself, let yourself be guided by a professional. They are familiar with how to deal with tenant problems so that damage is kept to a minimum.
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