Finding and renting a studio in Luxembourg doesn’t sound like something particularly difficult. After all, it is one of the most developed European countries with a thriving economy and great culture.
However, due to its small size and high cost of living, rental property is a rare and expensive commodity. That can be especially challenging if you are new to the area and don’t know your way around.
If you don’t know someone that can get you through the hurdles of finding and renting a studio, we are here to help. Here is 5 step guide on how to rent a studio in Luxembourg.
1. Start With Property Listings on Websites
There are several real estate agencies in Luxembourg, and their properties are listed on websites, as well as newspapers. Homeowners in Luxembourg rarely list their properties on their own. Instead, they use a real estate agency, usually.
Real Estate agencies charge a commission on every transaction.
The housing observatory website is one of the most useful tools for expatriates searching for a studio. It is a web portal set up by the ministry of housing that contains a lot of data on the local residential real estate market.
2. Choosing a studio
Because it is a small market, it won’t take too much browsing before you find what’s available. It might not be exactly what you’ve been looking for. It is a limited market in which typically most people tend to rent places at first seeing. Taking too much time, hesitating, weighing your options for too long, is giving other people time to grab some of the studios you’ve been considering.
The lesson here is don’t expect to find the perfect studio. Instead, settle with someone that is within your price range and in an area that suits you most.
Also, try to be as polite as possible with the potential landlord and try to leave a good impression. Unlike in other places, landlords in Luxemburg choose their tenants as there is a shortage of rental studios, and the demand is high.
3. Mind the rental contract
This is the single most important aspect of your rental experience. Even though Luxembourg rental laws are pro-tenant, you need to protect your rights with a bullet-proof rental contract.
Typically, unfurnished studio apartments are rented for three years, while the furnished ones can be rented for less. In terms of renewal, after the expiration of the rental contract, unfurnished apartment rental contracts can be renewed for six months or a year.
4. The tenant is obligated by law to ensure their homes
The insurance policy covers the house, as well as damages caused by theft, fire, or a natural disaster. The cost of the policy comes on top of the rental cost. Also, before the tenant moves in the studio, they need to sign an inventory listing. Sometimes the inventory is a stand-alone document, while other times, it is part of the rental contract.
5. Rent payment
Rent is decided between the landlord and the tenant. Typically, rent is paid monthly. The rent for a furnished studio cannot exceed twice the rental cost of the same studio if unfurnished. If it is a luxury studio, then there is another set of rules that determine how high the rental can be.