The real estate market is booming and so more and more people are choosing to buy a condominium to either use it for their own use or to rent it out promissory. Especially in big cities such as Berlin, Cologne, Hamburg or Munich, such an investment can pay off, as tourists from all over the world come here for a weekend trip to spend a good time. Germany is becoming increasingly popular with tourists, and so the purchase price could pay for itself within a few years with steady utilization.
The principle of “escape into the real assets” is no longer a secret of die-hard scene connoisseurs, and thus real estate increasingly serve as the perfect retirement. Especially people of older generations have discovered this form of investment for themselves and try in this way any inflation or other unpredictable and existence-threatening incidents to stop. However, one should inform oneself in advance about the current market situation, since supply and demand are known to determine the price and in some German areas, the portfolio is meanwhile rather rare sown.
Both the tenant and the landlord have rights and obligations that should have been internalized by both parties. The variety of different contract types alone causes confusion for most. On sites like this one, landlords can print valid model contracts that are both landlord-friendly and tenant-friendly. These are absolutely valid and thus simplify owners the contract confusion. The following are the most common types of leases. Thus, on the one hand there is the oral contract, which, however, increasingly disappears from the scene. This is where the legal regulations of the Civil Code apply. Tenants are clearly in the advantage of this type of contract. The permanent lease also benefits the tenant, as the lease runs for an indefinite period. Only the right to own use is considered a reason to put the tenant with a notice period between three and nine months in front of the door. The written lease is probably the most common and safest contract. Here contract and tenant are fixed from the outset. When concluding the contract in the rental agreement, a reason for termination must be agreed. One, especially with tenants, unpopular contract is the so-called graduated lease. Here, regular rent increases are recorded in writing, which the tenant is obliged to pay.