Renting a place in Luxembourg is no rocket science, nor should it be. However, there are some country specifics that most first time renters and foreigners are not aware of. Here we will go through some of the most specific ones. That way you won’t be completely surprised when you decide to rent a studio in Luxembourg or any residential real estate.
#1 The demand is higher than the offer
Luxembourg’s excellent standard of living and its growing job market is a magnet for people from all over the EU. Almost one-third of Luxembourg’s current population is made out of foreigners that live and work there. Many of whom are there with their families as Luxembourg is one of the most family-friendly countries in the EU, if not the world. And that trend is on the rise in 2019 as well.
As a result, the number of people that are looking to rent a place in Luxembourg is continuously growing. That drives a demand that the current real estate market can’t satisfy.
#2 Many of the studios are offered without furniture
Yup, you’ve read it well. There are many rooms, studios, and entire apartments that are rented without any furniture. The only option is to buy it yourself. The ones that are offered with furniture are usually more expensive. The furnished ones are typically rented for shorter periods and are more costly than the unfurnished ones. But even the unfurnished ones have an equipped and fully functional kitchen.
#3 Luxembourg has pro-tenant rental laws
The landlord is the one that dictates the terms of your lease, but those terms have many limits. The government has a set of laws that make sure the tenants are protected as well. For example, a landlord can’t just raise the rent because he or she feels like it. There is an official government Gazette that provides an index that regulates the matter. Thanks to that, landlords can raise rent every other year.
#4 Tenants can add a clause to terminate the lease contract
Typically, that’s done in agreement with the landlord and includes a three-month notice before leaving the place. The three-month period is a legal requirement, and the tenants need to cover the cost for those three months. However, these charges can be waived in case the landlord in meanwhile finds another tenant.
#5 Home insurance is mandatory by law
The law in Luxembourg dictates that every tenant need an insurance policy for the rented space, as well as personal items and furniture. That’s to cover the damages in case of water damage, natural disaster, fire, or theft. If the owner furnishes the studio, then the tenant needs a content insurance policy as well.
Almost every aspect of renting is covered with some document, whether it is your lease contract, the insurance, or something that you’ve signed between you and your landlord. As a result, there aren’t too many disputes between landlords and tenants. If there are any, almost all are decided with some mutual agreement. Luxembourg is a small, but a great country with great people living there. Most of the landlords fall in that category of people, so you can expect to deal with reasonable people that stick to their word and expect the same from their tenants.