Renting out process?
Dec 26th 2016, 12:58 pm
#1
Forum Regular
Thread Starter
Joined: Jul 2016
Location: Szeged
Posts: 284
Renting out process?
Hi all,
Has anyone recently rented out their property (within the last 3 years) and if so, what is the process? Is it a lot of paperwork and not worth it? or is it just a case of filling out a tax paper and/or registration paper of some sort?
Thanks in advance
Has anyone recently rented out their property (within the last 3 years) and if so, what is the process? Is it a lot of paperwork and not worth it? or is it just a case of filling out a tax paper and/or registration paper of some sort?
Thanks in advance
Dec 27th 2016, 8:52 pm
#2
BE Forum Addict
Joined: Nov 2012
Posts: 2,095
Re: Renting out process?
A recent survey found that only 20% of rental proprieties were declared to the tax office!
you take the rental contract to NAV (tax office) or you can do it online, how/when you pay the tax I do not know because I did not find anyone in my circle who declared rent to the tax office. (see above re 20%)
However a contract is important and it must be drawn up in the landlords favour. e.g it should contain a clauses to the effect that in the event of non payment the landlord is entitled to immediate vacant possession and that the tenant is liable for any damage however caused. These will avoid lengthy court proceedings as you will be able to get the police/bailiff to remove the bad tenant.
The Hungarian way is that the landlord goes to the property with a couple of large friends (the Hungarian term is két darab nagy szekrény) and toss the tenant out.
I can not recommend the above procedure but this seem to be the way it works!!!
What ever you do get a contract drawn up in your favour by a solicitor.
you take the rental contract to NAV (tax office) or you can do it online, how/when you pay the tax I do not know because I did not find anyone in my circle who declared rent to the tax office. (see above re 20%)
However a contract is important and it must be drawn up in the landlords favour. e.g it should contain a clauses to the effect that in the event of non payment the landlord is entitled to immediate vacant possession and that the tenant is liable for any damage however caused. These will avoid lengthy court proceedings as you will be able to get the police/bailiff to remove the bad tenant.
The Hungarian way is that the landlord goes to the property with a couple of large friends (the Hungarian term is két darab nagy szekrény) and toss the tenant out.
I can not recommend the above procedure but this seem to be the way it works!!!
What ever you do get a contract drawn up in your favour by a solicitor.
