Termination of own need – Buy a rented property and terminate the tenants due to own need? No problem, if you as a landlord have comprehensible, valid reasons why you need the property. Regardless of whether it’s a house or an apartment, here you’ll learn everything you need to know about owner occupancy.
Rented property: termination due to own need
Owners have the right to terminate because of own need, as long as the notice of own need meets all legal deadlines, which are 3 to 9 months. In general, you as landlord and owner must really need the apartment for yourself or a family member, there must be understandable and valid reasons.
Here are the facts in brief:
- Legal deadlines between 3-9 months
- Comprehensible reason
Read here everything about the law on own use/ Immobilien-Erfahrung.de
Own need: reasons and beneficiaries
Own use must always be justifiable and may only be available for the closest family members.
Reasons for own use: examples
The desire to own must always have a long-term component; A short or temporary use as a transitional phase would not be a justification.
- Desire to live in own apartment / house
- Desire to have children, housing expansion
- Second home or house, absolutely necessary for professional reasons
You can use personal use for yourself or for “beneficiaries”. But, who is included? Recognized are:
- Nieces and nephews
- Children-in-law and parents-in-law (if marriage still exists)
- Separated spouses (without divorce petition)
- Registered civil partner (without current request for annulment)
Next step: comparison of layer types
You have the necessary change together and have decided to invest in a property. But where exactly do I buy this property? First of all, the question arises: yield or investment property? This question plays a major role in the choice of location of a property for capital investors but also owner-occupiers. What exactly does A, B or C location mean and what are the differences? Read here everything about the location of real estate with its advantages, disadvantages and risks.