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Am I allowed to rent out my own home?

As a home owner there might be a time when you don’t use the home yourself. This may be due to frequent travels, long stays abroad for work or simply because you have been trying to sell but have found nobody who is willing to pay your (minimum) price. To answer the question, yes you are generally allowed to rent out your own home. But, there might be municipal regulations in place. Especially when renting out through platforms like AirBNB. Check this website for the rental laws in Amsterdam.

Be sure to talk to your mortgage lender when you decide to rent out your house. Not telling your mortgage lender will mean you are breaking the terms of your mortgage contract. You will have to obtain something called a consent for lease from your mortgage provider before you can start renting out. This means, you will need their permission before finding a tenant.

In fact, it is even better to think about this before taking out a mortgage. If there is a big chance that at some point you will start renting out, please do let your financial consultant know in advance. He or she can take that into consideration when choosing the right mortgage provider.

The same applies to your insurance. Make sure your current buildings and contents insurer knows of your intention to rent out your property. As you are using the building in a different way, these policies may need to be amended. You will have to take out a landlord insurance policy. This type of insurance can protect your property itself, your tenants and your investment as a whole. Again, this means you will need their permission before finding a tenant.

Finding an agent

You can use a letting agent when renting out your property. A letting agent will generally charge around 10-15% of the rental income you receive. They will provide you with the following services:

  • Advertise your property in relevant places.
  • Show interested tenants around.
  • Help determine the amount of rent.
  • Draw up a tenancy or rental agreement.
  • Deal directly with the tenant on your behalf.