Expats, short for expatriates, are people who for professional or personal reasons temporarily live in a country other than the one they originally came from. This group typically consists of highly skilled professionals who have been sent abroad by their employer. Renting to expats brings benefits, including their intention for a temporary stay; they usually live in the host country of their choice for only a certain period of time, ranging from a few months to several years. In the Netherlands, there is a growing number of large companies that hire expats and need residencies. In this blog you will read some tips and reasons to choose expat rental of your own home.
Is my property suitable for renting to expats?
Renting out your home to expats can be an attractive option, but it is important to first determine if your home is suitable for this purpose. Important factors are the condition of the property and whether it is furnished. Expats often prefer furnished properties precisely because their stay is usually temporary. Make sure your property is in good condition and offer neutral but cozy furnishings to attract a wider audience. Furthermore, potential tenants are often looking for properties near major cities because companies often have their offices there as well. Therefore, if you have a house near Amsterdam, Rotterdam, Utrecht, Almere or Hilversum, for example, your property could be very attractive. Finally, expats are often persons who are very knowledgeable about technology and love it, so it is a big advantage if there is a fast wifi connection, a smart TV, a coffee maker and other essential appliances such as a microwave, dishwasher, washer and dryer. To make it extra interesting, you can also do some home automation (home automation) in the home.
When renting your own home to expats, it is recommended that the home be rented furnished.
Why expat rental of my own home?
Expats are often reliable tenants with high, stable incomes. This means that the rent is paid monthly on time, making for a worry-free experience for you as a landlord. Especially if the contact and agreement is made directly with the company arranging a house for the expat. The rental period with expats is usually temporary. This offers flexibility for the homeowner and the possibility of using the property yourself in the future or re-renting it. Furthermore, there will be little nuisance, and the house will be neatly used, as the expat will be staying in this for a longer rental period, and thus it will be important for him to keep the house neat. Furthermore, renting to expats can also lead to international connections, which can expand your network and provide future rental opportunities.
Temporarily renting out your own home to expats
There are quite a few things involved in temporarily renting out your home to expats, especially if you’ve never done it before. Drafting a clear rental contract is crucial. Contact a legal advisor to make sure that all legal aspects, such as the duration of the lease and the terms and conditions, are laid out correctly. Furthermore, an appropriate security deposit provides additional security. In addition, make clear agreements about the maintenance of the property and whether or not to allow pets. It is also essential that the term “temporary rental” is clearly defined in the contract. This prevents misunderstandings about the length of the rental period. Finally, good communication with your tenants is essential. Be available for questions and make clear arrangements around maintenance and any problems.
Golden Stay can help add the personal touch that makes your property unique for renting to expats.
Carefree renting out your house to expats with Golden Stay
As you can read above, renting out your own property can be quite a challenge. This is where we come in! Golden Stay is experienced in expat rentals, and is happy to take the work out of renting out your home to expats. We can take care of everything from rental to maintenance so you can focus on what’s important. We can help with personalizing your home for expats, marketing and taking great photos, drafting the right contracts and contacting clients and tenants. With Golden Stay, the rental process to expats becomes easy and stress-free. Please contact us to discuss the possibilities of renting out your property, house or apartment to expats.