Letting your home to cover when not selling (fast)
Mortgage interest rates rose sharply in the second half of 2022, which means that the sale of a home or apartment is sometimes slower than initially expected. It is possible that you have already purchased a new home or that your new-build home will soon be completed. On the other hand, plans are sometimes made for a foreign experience or emigration.
Vacancy law (Leegstandwet), temporary rental
Renting out using the vacancy law can provide a bridging solution. In this way you can temporarily rent out the current or previous home and cover the costs with the rental income. There is a great shortage of (temporary) rental housing in the private sector and a lot of people have been helped with a temporary home or apartment.
Permission from bank and municipality
It is important to apply for a permit from the municipality and permission from the lender or bank. Most municipalities have a page on their website where a permit can be applied for. If the house is for sale, the municipality can issue you with a permit for a maximum of 5 years.
Keep active in sales
The advantage of renting out with the help of the Vacancy Act is that you can terminate the rental agreement prematurely in the event that you have sold the house. However, there is a notice period of at least 3 months. A notice period of 1 month applies to the tenant. The rental agreement lasts at least six months. The maximum term of the rental agreement is equal to the period of the permit.
Rental price to be determined freely
When renting out with the Vacancy Act as a bridge, you as the owner of a house for sale can decide for yourself at what price you rent it out. Obviously you will have to take into account the fact that a little more is asked of a tenant. This in connection with possible viewings and the chance that you cancel when selling.