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New in Munich – Blog

Einzug in eine neue Wohnung

Handover of the apartment before moving in

Handover of the apartment before moving in Congratulations – you were successful and have finally found a nice apartment in Munich The rental price and the start of the rental period are right, the area is nice, well connected to public transportation, but still quiet. The move-in date has been set, the right moving company has been found, the move is planned. Now the handover of the apartment must happen, in the course of which you will also receive the keys to your new home. Before the handover, the deposit (maximum 3 net rents) must be paid to the apartment owner. According to § 551 Par. 2 BGB, this can be paid in three installments upon consultation with the landlord. This means that the first partial payment of the deposit is made with the first rent payment, the second and third payment is due with the second and third rent. Moving always entails a lot of costs and the partial payment of the rent deposit allows a welcome financial relief. In the past, until 2015, the broker’s commission, 2 months rent + VAT, made up a significant part of these costs. Around 90% of the apartments available in Munich were …

Apartment search in Munich and the surrounding area

Apartment search in Munich and the surrounding area In major German cities there are more apartment seekers than suitable, affordable living space. Munich alone is lacking around 70,000 apartments. The apartment hunt is becoming a race with a multitude of competitors. The competition for affordable apartments in good locations, with good facilities is fierce. Apartment owners can select from a large number of applicants and are accordingly picky. In 90% of apartments dogs aren’t allowed and cats are frowned upon too. These days you must expect a basic rent price of around 21 Euro per square meter for a 60 square meter apartment. That’s exclusive of heating and other additional costs. In the popular areas of the city center the price can be significantly higher, depending on location and the apartment’s facilities. Considering these prices, it’s no wonder that creditworthiness is first priority for apartment owners when renting out their apartments. The majority of apartment owners only consider prospective tenants whose net income is minimum three times the full rent. Therefor applicants with good income have better chances. If the apartment can be rented out fast, with little effort, and no renovation needed, that’s additional important criteria why an owner …