Moving into your first place of your own, or relocating somewhere new? Renting a home is always an exciting step. Before you sign the tenancy agreement, it is important to understand the costs involved. That way you can start your new adventure without any financial surprises.
The monthly rent is, of course, the biggest cost. Make sure it fits within your budget and take your other monthly outgoings into account. Ideally, your rent should be no more than 35% of your net income.
When you rent a home, a rental deposit (huurwaarborg) is usually requested. It amounts to a maximum of three months’ rent and is placed in a blocked account. At the end of the tenancy you get the deposit back (in full or in part), provided no damage has been done to the property. On top of the rent, you usually pay for water, gas, electricity and internet. Always check whether these costs are included in the rent. In some cases you have to pay for (some of) these utilities separately.
You will also need fire insurance (brandverzekering). It is compulsory and protects you against damage to the rented property caused by fire or water, for example. Renting a flat? Then you usually also pay service charges. These typically cover the upkeep of the lift, stairwell or garden, for instance.
In Flanders, your tenancy agreement must be registered. Registration is free and is usually arranged by the landlord, but it is worth checking. Some costs, such as minor repairs, may be your responsibility. Make sure this is agreed in advance and clearly set out in the contract.
Preparation is key!
Renting is a big step. Always ask the landlord to clarify the costs, read the tenancy agreement carefully and do not be afraid to ask questions! That way you know exactly where you stand and can furnish and enjoy your new home with peace of mind.
