FAQ

Our team responds to your questions!

Find here the questions that are most asked, about rental management, purchase or sale of a property, the conditions to do works in a co-ownership… all that could be useful.

No, it is forbidden to let the engine run idle without necessity, as it is forbidden to start motorbikes our bikes with an auxiliary engine in the entrance area of buildings, passages or courtyards of residential buildings. During the night the noise caused by the closing of car doors et garage doors, as the starting or stopping of car engines should not disturb others. (Art. 27 General police rules of the 26th of March 2001 as modified on the 23rd of November 2015)

As an owner of a property being let, you are generally subject to fiscal obligations. All rental payments that you may perceive are in fact subject to tax, deduction being made of the running costs (costs for repairs and maintenance, loan interest, amortizations, management costs, etc.)

Other than the cost of the property fixed in a contract between the seller and yourself, other costs need to be considered:

  • The costs of the deed (notary fees, other taxes due to the fiscal administration). In Luxembourg these rights are 7% of the sale price but a reduction is awarded by means of a tax credit, in case of buying a property to live in yourself). Pay attention, if you want to let the property, you will need to pay the entirety of the fiscal registration fees.
     
  • The costs of the mortgage which comes with the notary deed and the inscription of it at the Mortgage Office.
     
  • The cost of the mortgage file with the bank. These costs vary form one bank to another and are generally not very high.

If you choose to leave us the rental management of your property, the occupant will deal exclusively with our agency as the manager of contract. In principle, he or she will have no use contacting you directly as we will manage all inquiries.

As far as the liability of the owner goes, the law does not oblige any insurance in Luxembourg. In any case in it in your interest to subscribe a PNO (propriétaire non occupant) insurance, or a non-occupant insurance, which will cover you against any damage, especially when your apartment is not occupied at all. The PNO will cover the liability of the owner against his/her tenant (art. 1721 of the Civil Code). Your contract can also cover the costs you could incur for damages you caused to the property of others (Art. 1382 till 1386 of the Civil Code).

Any answer that does not satisfy you or you have more specific questions? Our advisors are at your disposal.