Berlin Rental Yields
Many people buying property in Berlin do so with a view to renting their properties out after their purchase. There is real strength in the Berlin rental market, and some high yields are there for the taking. With property prices so low (compared to other European cities), it is easy to see why many foreign property investors have turned their attention to the newly united city of Berlin.
Business Letting – Short Term Letting:
Many foreign investors are buying vacant apartments or houses (New or Old) with a view to furnishing them to a high standard, and then renting them out to professionals. There are some excellent Commercial rental management companies that rent furnished apartments or houses in Berlin. Rental contracts generally range from 1 month (minimum) – 12 month (Maximum). Rental yields can be as high as 10%. With Berlin recently becoming one of Europe’s major business centres, many higher flyers, scientists, artists and professionals will seek out a high quality furnished residence during their working stay. There are certain areas of the city that are highly desirable for professionals to rent in, for more details request information via email to firstname.lastname@example.org.
Holiday Letting – Short Term Let:
Once you have bought property in Berlin, you will have the option if you wish, to rent out the property, which most investors will do. Berlin offers a great choice of exciting things to do, which keeps the tourists flocking back year after year. The new BIB (Berlin International Airport) airport is being constructed and is due for completion in 2011. Berlin’s airports will have the capacity to cater from a now 20 million passengers a year to a huge 50 million a year. People come to the Berlin, for its history, the arts, the shopping, the nightlife; this fantastic 24 hour city really can offer people a complete entertainment package. And it is because of all this that is very realistic to expect when renting out your property for short term periods, that you can achieve year round strong rental returns. Some extremely good rental yields can be had, easily sufficient to cover the costs of the property, pay a mortgage and make a healthy profit. One of the beauties of choosing to rent out you property this way, is rental periods will be varied and flexible, so you will be able to use the property yourself if you so wish, and experience all the pleasure of Berlin. For more details and to request further information send an email to email@example.com.
Renting to Berliners – Long Term Letting:
Some people buy apartments, with sitting Tenants already, some buy and rent out long-term to Berliners. The average rental yield for apartments with sitting tenants in Berlin is 4.95%. An apartment of about 60-sq.m across Berlin averages a yield of 6.05%, with larger apartments yielding slightly less, for example a 120-sq.m apartment yields an average of 4.82%.
- A rental contract is in most cases run for an unlimited period (other than for short term-Business letting). Tenants renting with an unlimited period will often stay for many years, and will furnish the properties themselves. To the level of sometimes putting in new bathrooms or kitchens. When they leave the property they will often then take the bathroom & kitchens with them, this is quite normal.
- Berlin Tenants are liable to pay the running costs for the property they rent (Utilities, and the running costs of the property, including matters such as home/building insurance & property tax).
- Laws in Germany & Berlin, inform tenants that the state of a property after it has been rented out must be that of a similar state as what the property was when it was first given to the tenant. This generally means that the property can be rented out again immediately at no additional cost to the landlord.
The rental market in Berlin is extremely strong, and there is never the problem of not being able to rent out your property.
For any further information from the rental experts at BerlinProperty.co.uk, send us an email, with your questions to firstname.lastname@example.org and a member of our team will be sure to contact you in the near future.