Jakob Weinrich, LL.M. - Your lawyer in Vienna.

Investment property - what is important when buying

Real estate is considered crisis-proof. Despite currently rising interest rates, these are not reaching the consumer when it comes to saving. The investment property therefore still proves to be a sensible way to invest money. What is to be considered legally with the purchase of an investment real estate?

In the case of investment properties, what counts most is the return. Often, such a return seems very good from the outset. However, there are sometimes surprises that can be avoided. It is therefore all the more important that the entire contractual framework behind it is transparent and watertight. You should therefore be familiar with the contents of the relevant documents.

Condominium agreement: This agreement regulates the rights and obligations between all owners of the property. For example, it contains provisions on parking spaces or the (exclusive) use of gardens. A different allocation key for operating costs may also be agreed. Often, general parts are also assigned to individual apartment owners. In any case, it is important to make sure that your investment apartment is not too restricted.

Rental agreement: In the best case, the investment apartment is already rented. Depending on the location or condition of the building, your investment property may be subject to the partial or full application of the Austrian Tenancy Act ("MRG"). The distinction is important, because in the full application area of the MRG the amount of the rent is limited. Important contents in the lease agreement of your investment property are also the indexation clause and a time limit.

Minutes of the house meeting: An inspection or examination of the last minutes can show in which condition the property and the building are. Thus it often results from it, which damages exist or whether reorganization or rebuilding work is planned or already ordered. This also affects the repair reserve or the future contribution.

All documents should be available to you when you submit your offer. In any case, it is worth checking them, as they have an impact on the return that should not be underestimated.

We will be happy to assist you with the processing of your investment property: We will review the documents, draw up the purchase agreement and take over the trusteeship as well as the execution. Here you can make a non-binding inquiry about the costs: https://kaufvertrag.info/