Frequent ask questions
How do I change the management of my property over if it is currently being managed by another agent?
Simple! If you currently have a property managed by another agent and for any reason would like to change over to PMA (Property Manager Amsterdam), all you have to do is find out what clause is in your contract for leaving your property management company and act accordingly, we can aid you with this by contacting them direct. If you choose to have us manage your investment property we will organise for your tenants to be notified and for the keys to be collected from your managing agent. Everything else carries on as usual. Changing your managing agent couldn't be easier.
Is the energy label mandatory?
Yes, when selling or renting out a property, the owner has been required, since 1 January 2008, to provide the buyer or tenant with an energy label. The energy label indicates the energy efficiency of the property and is intended to stimulate the use of energy saving measures. The label can take a value ranging from A to G, A being the most efficient and G the least. The energy label is valid for a maximum period of 10 years.
How should I know what my property will rent for?
The Property Valuation System / Points System (puntentelling)
Disputes about the rent can be very frustrating and time-consuming, but if you apply the point count correctly then you are less likely to get into such disputes to start with. Key to this point count is the calculation of a property’s valuation score, which seeks to reflect the quality of the property in an objective and transparent way. The property’s surface area, amenities, conveniences and energy label (see above) are amongst the factors that are taken into account. The total score determines if the tenant requires a residency permit (‘huisvestingsvergunning’) and whether the property is subject to maximum-rent regulation.
As of 1 October 2015 , the limit is fixed at € 710,68. This means that leases commencing by the 1st of October 2015 at an initial rent of more than € 710,68 per month, have been liberalized. This rental price can be agreed upon if the property is worth 146 points or more. In this situation, owners are free to agree on the amount of the (basic) rent. There should be a breakdown between the rent and the monthly contribution for the Homeowners Association towards service costs. The service costs are to be paid annually on the basis of expenses actually incurred by the property owner. The rent may be increased once every twelve months.
Is the price below the rental price liberalisation limit? Then the tenant can commit the property owner to observe the maximum rent indicated by the property valuation system. A tenant of a property with a liberalised rental price is entitled to rental protection at the end of the lease period, and also if the property is fully-furnished or semi-furnished.
More info here
Additional Rent for Monuments:
For properties registered as a monument or protected town or cityscape, additional rent may be charged. As a rule, you can add 30 per cent for a property with monument status and 15 per cent to a property falling under the protected town or cityscape scheme. In Amsterdam, for example, the sloping inner ring (all areas which are part of the Singelgracht) is classified as protected cityscape.
Do I need home owner insurance?
As with any insurance policy, it is not compulsory to have home owner insurance on your property. However, as property specialist, it's my expert recommendation that every investment property owner has a specific owner insurance policy in place for their property. Landlord Insurance protects you in the event of a tenant not paying rent, departing the property early or damaging the property. It also includes public liability and limited cover for contents (e.g. floor coverings, curtains). While there are plenty of options out there, we suggest choosing very carefully. Many policies provided by the major banks are worthless! Be sure to look at how well a policy can cover unpaid rent, liability claims, damage to contents and extreme weather, and most importantly have a look at the excess conditions.
What happens if my tenant doesn't pay rent?
We have invested in technology which allows us to monitor tenant arrears on a daily basis. After 4-7 days we contact tenants via telephone, email and SMS to follow up on payments. On the 8th day of arrears (the legal minimum) a Notice to Remedy Breach will be issued to the tenant giving them 7 clear days to bring the rent up to date. If rent is still not paid within this time frame a Notice to Leave will be issued to the tenant giving them seven days to vacate the property. We will communicate with you throughout this process and a Notice to Leave will never be issued without discussing the situation with you first. It is our intention at all times to minimise any loss to the owner so these actions need to be carried out promptly.
What do I do if I want to sell my property?
If we currently manage your property and you are looking to sell (or even if we don't and you are looking to sell), your choice of agent is critical in ensuring you get the best price in the sale. Many of our owners live out of the area and don't have relationships with selling agents in the area that their property is located in. Fortunately we can help...We specialise in renting properties but have a vast referral network so that we can easily put you on to the best agent to sell your home no matter what area it is located in. Just call us and we'll put you in touch with the right people. Our goal is to help you get the very best return on your investment and that extends to ensuring that the best possible price is achieved when you want to sell.
How is PMA tenant selection process?
The tenant will be required to submit:
Basic personal details
Details of your current and past addresses
Details of rental history including rental references
Personal and professional references
ID or passport
Employment details or proof of income
Last two pay slips
How often will PMA carry out inspections?
As a rule of thumb, we normally inspect a property every 3 months. So if you're on a 6-month lease, you'll likely have one inspection, and if you signed a 12-month lease, expect three inspections. In any case, we'll give the tenant plenty of notice advising when we'll inspect it, and give a 2-hour time-frame of when we'll enter. Tenant can choose to be there, but it's not necessary.
For more information and a very extensive dossier on property leasing, we are happy to refer you to the website and the rental dossier of the Dutch government: www.rijksoverheid.nl