Just a moment...
Read the article here: https://lnkd.in/dCaSD8sN
The economic recovery after COVID-19 has let to an upturn in energy demand worldwide, while supply has remained tight and therefore the price of gas started to rise. In addition to this, governments have been engaged in a joint effort to limit the burning of coal aiming for net global carbon emissions to reach zero by 2050 and the decision to exit from coal has brought to a further increase of energy taxes.
Since February, the Russian invasion of Ukraine and subsequently Western sanctions exacerbated the situation, pushing crude oil and natural gas prices to near-historic highs, within knock-on effects on power sectors. European countries are facing the possibility of energy supplies being rationed.
The current energy crisis entails the rising cost of living: you can except to pay more for everyday essentials like groceries, when heating your home or filling up the car. If you are going to book your holidays, don’t be surprised when you see the prices of car rentals, airline fares, and hotels. Our purchasing power is going to be lower and lower. Fossil fuels, for instance, doubled to 2.11EUR/l over one year. Heating prices have followed a similar path.
In January 2022 the cost of electricity increased by 36% and the cost of gas by 135% in comparison to June 2021. Our ALL-IN formula is unable to cover such exceptional increases. As a result we have already adjusted the utility cost (charges) from 140EUR to 200EUR across all contracts for new tenants, with potential further increases down the line. Existing tenants get a rent adjustment.
Supply and demand shocks will continue to roil the energy market and the global economy but what can we done to cope with this unprecedented situation?
RADIATORS (GAS)
ELECTRICITY
—–
At Vauban & Fort, we take care of your rental house maintenance. We work closely with house repairing companies such as Handyman Luxembourg to guarantee the best service for house repairs. Our partners are professionals in the field, and they will take care of your repairs as soon as possible. You don’t need to worry about anything!
Handymen are rare in Luxembourg, and they always keep you waiting, as none wants to take care of the minor repair because they are not lucrative. That’s when we can help!
Contracting home fixing services can solve your problems and efficiently guarantee a quick fix to your tenants. As a landlord, you don’t have to do anything. We call our partner, estimate the cost of the repairs and then arrange a date. We ensure maximum transparency throughout the whole process.
Taking care of the rental property maintenance is a legal obligation for landlords, which requires investing time and money. But some tips can help you reduce the risk of severe damage:
You can count on professionals that will fix what’s broken as soon as possible. You don’t have to waste time looking among different websites as we work closely with companies for different kinds of repairs.
Moreover, our services are trustworthy and guarantee the quality of the work provided. It is not always the case with some handymen you hire on the spot.
Many owners want to renovate their property, but it is essential to plan it on time. We suggest renovating the property before you start renting. In this way, you will offer a better place to your tenants and ask for a higher rental fee.
Smoke detectors, water leaks or heaters should be checked regularly for safety reasons and to avoid more severe damage. If everything runs smoothly, tenants will benefit, and you can reduce the risk of fractions.
House repairs can be a nightmare if not taken care of on time. It’s a landlord’s responsibility to fix damages by themselves or hire home repair services.
At Vauban & Fort, we offer home repairing services as part of the maintenance for the rental of your properties. Avoid more headaches by trusting professionals who will take off lots of worries from your shoulder!
Tenants looking for long-term rental houses or long-term rooms for rent have some expectations regarding the house and the relationship with the landlord.
Here are some factors that can have an impact on the duration of the rental agreement:
We can help you get long-term tenants for your properties via different types of services, from recruiting tenants to the maintenance of the property and collection of payments.
If you’re a landlord or you’re thinking of becoming one, then have a look at our homes to see the kind of housing we propose. If you’re looking for a room to rent in a shared flat, then have a look at our listings of rooms.
This article looks into the landlord’s responsibilities, like keeping the properties and equipment in good condition. Indeed often, the work of a landlord is not over once the lease is signed.
To reduce the workload, some landlords hire companies like Vauban & Fort to take over the property management of their property. It is undoubtedly an excellent way to simplify landlords’ life by screening tenants’ applications, managing payments and taking care of the maintenance of the property.
When you decide to rent your property, owners have to consider that some maintenance costs will fall under your responsibilities. For example, heating has to work all the time, and all windows should be in good condition to prevent cold air in the apartment.
If a property is in good condition it is much easier to rent it for a share house option. If the flat looks good, people will be more willing to move into a flatshare.
Owners have to subscribe to the landlord’s insurance to protect their property which is absolutely essential and protects against worst-case scenarios like flooding, fire or burglary.
A landlord must take care of most repairs needed in the flat or house. Some laws allow tenants to withhold rent if repairs don’t happen on time.
Eventually, due to normal wear and tear stuff breaks down or stops working altogether. As a rule of thumb, if things break and can be repaired, the tenant must pay for these repairs. However, particularly with electronic equipment, like fridges and dishwashers, the device might be beyond repairs, in which case the owner will have to pay for a replacement.
The property owner is responsible for dealing with the syndic of the building on behalf of the tenant since the flat is in their name.
In Luxembourg, the landlord must give the tenant a yearly breakdown of all utility costs. This process can be a bit more tedious as it ends up taking more time to prepare everything accurately for the tenant.
Rental house property management agencies can make a landlord’s life easier. They handle the daily operations of renting properties, such as fixing damages, covering the costs of repairs, doing all the paperwork as well as the day to day administration.
Hiring a property management company is a good choice for those who don’t want to keep up with all of the above issues, many of which can be time and energy-consuming. Landlords can then rely on the experience of such agencies and forget about all that work, while tenants can search for their new accommodation via a listing of rooms.
Before giving you some tips on how to become a landlord, let’s talk first about some of stress points related to it.
Renting your property as a shared house can turn into a good source of income, but you will have to take care of some costs and spend time on it.
There are a lot of factors that will have an impact on your first experience as a landlord, from rental agreements to tenants selection. Let’s have a look at some pain points for a landlord:
To some extent, there is also a degree of luck involved but if you rely on a property management agency like Vauban & Fort, you won’t have to take care of anything and you can confide all the hard works to professionals.
Nevertheless, here are some tips if you’re already a landlord or if you’re thinking of becoming one:
the collection of payments, maintenance of the property, selection of tenants, and online presence of your home as we do at Vauban & Fort for all the properties in Luxembourg.
As a landlord, there are many obligations but there are also some rights. You can set the rent, know who is living in your property and be given access to the property on specific occasions such as when repairs are to be done or you would like to inspect it;
The contract has to include basic information of the tenant, landlord and property together with the duration of the tenancy, payment dates and notice period to end the contract. It is essential to get the rental contract right as it can otherwise become tricky when things go wrong.
God forbid but over the long term it is likely that at some point or another things might go wrong and if you are really unlucky you might end up with costly repairs. This is particularly difficult for the grey zone of ‘wear and tear’ whereas a landlord you are expected to replace electrical equipment if it is broken but then what do you do if your tenants abuse these repeatedly. For this reason, it is essential to be covered by a good insurance and here in Luxembourg we’d recommend AXA and also FOYER.
As a landlord you have lots of things to do such as collecting payments and dealing with delays, taking care of the maintenance of the property sometimes even on Saturdays and knowing who is living in your house. If you hire an agency to manage your property all this stress is not on your shoulders anymore, so time to enjoy a cold beer and kick back while others do the hard work. Cheers to that!
Renting a room or a shared house often requires a lot of time, expertise, and knowledge. At Vauban & Fort, we put in place everything you need to succeed in your job as a landlord. You don’t have to worry about anything!
Join our community of the best landlords and get listed on our homes ready to be rented out in Luxembourg.
