2023-07-01 12:59:21
VIENNA. According to the new real estate law in Austria, the landlord who wants to rent his house and wants to rent or sell all kinds of real estate in the form of an order through the real estate agent will pay the commission money of the real estate agent. In this case, the tenant does not have to pay a commission of one, two or three rental prices from now on when renting a house, and he does not have to pay a commission of 3% when he buys it. If the tenant and the buyer who want to rent or buy a house sign an agreement with a real estate agent to find me a house to rent or buy under the following conditions and place an order with the real estate company, this time the tenant will pay a maximum of two rental fees for the house he has ordered. In short, according to the new real estate agent laws in Austria, the principle of giving orders to real estate agents will be valid as of July 1, 2023.
As of today, the principle of intermediation applies to flat rentals.
Real estate agents’ commission is now paid to the real estate agent by the person who first commissioned them to find a flat and tenant for the flat, which is usually the owner of the flat. Until now, tenants have paid most of the commission.
Minister of Justice Alma Zadic (The Greens) once again supported the reform of the Real Estate Agents Law in a press release, stressing that “This reform will relieve ‘hundreds of thousands of people looking for homes in Austria’ and ‘provide more justice in the housing market’. Zadic said, “Thanks to the reform, house seekers will save on high real estate agent commissions, up to two gross monthly rents in the future. This is a significant relief, especially during periods of inflation,” he said.
At the same time, a new increase in category rents of about 5.5 percent came into effect in Austria. This is the fourth promotion in less than 15 months. The last rent increases of similar magnitude occurred in November 2022, and before that in June and April 2022. Category rents are automatically adjusted in Austria for inflation if inflation since the last increase reaches the five percent mark.
Almost 24 percent increase
Regarding the increase announced now, the Chamber of Workers (AK), the Austrian Trade Union Federation (ÖGB) and the Tenants’ Union had already requested a rent brake against this almost 24 percent increase.
Translated with www.DeepL.com/Translator (free version)
Help for low-income people
The new reform is expected to relieve especially young and low-income people. Austrian Youth State Secretary Claudia Plakolm added that students and apprentices will also benefit greatly from this reform. The price of rents in Austria continues to increase in recent years. Especially at this time of high inflation in Austria, this new reform could provide great relief for future tenants. (yenivatan.at)
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