After an extensive housing search, you have finally found the perfect home for you and your family. The Dutch way of life has grown on you, you have settled, the children are happy at school, your social life has picked up and just when you feel you have fully integrated in the Netherlands it happens: a job offer you can’t refuse. Actually, it offers so many benefits that moving abroad with the entire family is considered just a minor detail. Then you start to think about what to do with your Dutch home. Debby de Boer, MVA Certified Expat Broker at Brockhoff Makelaars, will tell you all about it.
The scenarios that will come to mind are selling or renting. While the first option is probably clear for everyone, it’s the latter that could cause headaches if you’re not fully and properly informed before you start.
Meaning: renting out your house or apartment can be subject to regulations and can even affect affairs you might have never thought about.
For instance, did you know that:
- The tax benefit regarding your mortgage interest is only applicable for the house you actually inhabit;
- The mortgage deed you have signed does most likely not allow the property to be rented out without the mortgage lender’s permission;
- When you own a property which was a new development at the time of purchase, your deed of ownership can contain easements or other clauses which prohibit renting out the property during a specified period of time. Breaking such a clause can result in a penalty;
- Renting out the property in a multi-tenant situation (individuals sharing) could be in conflict with the municipal regulations, breaking those regulations can lead to unpleasant consequences;
- Renting out the property for short-term stays (Airbnb) is regulated by law, additional regulations can be applicable depending on the municipality in which the property is located;
- In case of an apartment, renting out for short-term stays can be prohibited by the owners’ association the apartment is a part of;
- Your current policy regarding household insurance might not cover everything when the property is rented out.
All in all, the above indicates that renting out your property could affect more than you expected initially. The keyword though is information! Getting proper information up-front and familiarising yourself with the Dutch regulations will prevent you from having to deal with unforeseen penalties or enforcements.
Of course, selling your Dutch property is always the other possibility. If you decide to sell, the points above will obviously not apply. The process of selling requires less information gathering up-front, and will hardly be subject to any possible fines or unexpected regulations.
Needless to say, your MVA Certified Expat Broker can help you either way!