In today’s world, renting a home is becoming increasingly popular, and Austria is no exception. Renting is cheaper than buying, and for people who are mobile and frequently change their place/city/country of residence, rented houses or apartments are of course an ideal option.
As of now, brokers in Austria can conclude transactions with both landlords and tenants. The brokerage fee can be paid by both parties or by one of them. In practice, the tenant often pays the commission to the broker, although the landlord is usually the first to contact the broker. Many consider this position unfair to tenants.
That is why the Real Estate Agents Act (Maklergesetz) has recently been amended, according to which the “Bestellerprinzip” will be applied to residential leases from 1 July 2023. It can be explained by the words “The customer pays the piper”. In other words, the one who first engaged the broker (in most cases, the landlord) will conclude an agreement with the broker and pay for his services. In Austrian society, such changes are perceived positively, as it is expected that this will significantly reduce tenants’ costs.
Thus, in theory (at the legislative level), renting a property will become more financially profitable, and the VigoImmobilien team will be happy to help you find your dream home at the most attractive prices in practice!
