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The rental market for single-family houses in Geneva
In the canton of Geneva, there is always a demand for villa rentals.Furnished villas are not in demand. The villa must be in good condition and offer good value for money. Most families want to move into their new home in the summer, so that their children can start school at the beginning of the school year. Most villas are rented to expats and international clients. Many of those interested do not speak French and a good knowledge of English is usually necessary to communicate clearly and avoid misunderstandings.
Opportunities and risks of renting
Opportunities
Renting out your home provides you with a regular income and should enable you to cover the costs, mortgage interest and tax associated with the house. The market value of a house in the canton of Geneva has risen steadily over the years.
Risks
Renting a house also involves risks. You may be forced to embark on lengthy and costly legal proceedings. This is the case, for example, if the tenant no longer pays the rent or deposits it, causes damage without wanting to take responsibility, disputes your termination or asks for an unjustified rent reduction.If you wish to terminate the lease in order to move back into your own home or to sell it, the tenant may contest the termination and request an extension of the lease term. If you enter into the lease without seeking advice from a property manager, you run the risk of making uncorrectable mistakes that can have serious consequences.
Minimising risks and encreasing opportunities
Obviously, the risks can be reduced by hiring a professional property manager. A property manager knows the rental market, tenancy law and related legislation. A property manager has administrative, technical, financial and legal knowledge. Read our article and watch the video: Managing your own property or appointing a property manager?
Preparation of the house
I advise you to keep your villa in good condition. A house with a fully equipped kitchen, clean bathrooms in good condition and a well-kept garden is easier to rent. Find repairs and cleaning should be carried out before the tenant moves in. House tenants are very demanding when it comes to the quality and service provided by the landlord.
Finding a suitable and solvant tenant
Publishing advertisements, offering the house to interested parties, organising on-site visits and thoroughly checking applications all take time and professional skills. Choosing the right tenant is essential. The wrong choice cannot be corrected and can have serious and costly consequences. Read my article and watch the video: How to choose the right tenant
The lease contract and the partucular conditions
The wording of the lease must be precise and meticulous and comply with the lease law.The rent must be set in accordance with tenancy law. It must be set at an appropriate price that at least allows you to cover your costs and must not be excessive. The commencement date must be specified. The initial term of the lease must be stated, and it must be specified whether it is for a fixed or indefinite period. The amount of the rent must be stated in the lease. The description of the house and outbuildings must be clear. The lease of a family home must be signed by both spouses.Heating and ancillary costs for a house are higher than for a flat. The tenant of a house must pay the costs of heating, hot and cold water, decalcification of the boiler, gardening, maintenance of the swimming pool, ventilation systems, cleaning of gutters, drains, etc. The costs are set out in the rental agreement. These costs are set out in the lease.
Tenants of a house have more responsibilities: among other things, they must comply with official and private regulations and servitudes relating to the property. Before winter arrives, they must drain the outside taps, take care of winterising the outdoor swimming pool, etc. Diplomatic clauses and release clauses are sometimes negotiated. The special conditions must be drawn up and adapted individually. Please note: clauses that contravene the mandatory articles of tenancy law are null and void!
An inventory of fixtures and fittings
An inventory of fixtures and fittings must be drawn up when the keys are handed over. It must be signed by both parties and photos of any defects may be added. The water, electricity, gas and heating oil meters must be read.
Our leasement and management services
Would you like to rent or manage your home, or are you looking for a suitable, solvent tenant? Don't hesitate to contact us to take advantage of our expertise in this field. We have over 30 years' experience in the Geneva property rental market and a vast network of contacts. You can count on our personalised advice, accurate checking of applications and professional handling of every stage of the letting and management process.
© Author Esther Lauber, Property Fiduciary with Federal Diploma of Higher Vocational Education and Training, real estate agent, property broker and manager in Carouge Geneva, Geneva, speaks German, French and English
Translated with DeepL (free version) from Germain to English. In case of doubt, the French version applies to translations.