A very popular business in Slovenia is renting real estate. Especially among foreign citizens it is very common that they open a company in Slovenia and buy property. But if you plan on renting it out, do you know what the rental agreement has to consist of? Our legal advisors answer these questions.
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Renting out property in Slovenia
In 2020, construction of new apartments is in the rise. There are many new buildings either in the process of construction or have finished construction. Here, there are a lot of possibilities for investment, especially among foreign citizens. Before the coronavirus outbreak, most landlords decided to rent out their apartments as short-term rentals on AirBnB or Booking. But many entrepreneurs are now deciding to rent out their real estate for a long-term period. For that you would need to conclude a rental agreement with the tenant.
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Rental agreement and its content
When concluding a lease, you must assure that the rental agreement contains all the essential components. The Housing Act (SZ-1) prescribes its contents.
The rental agreement must therefore contain at least:
- description of the apartment, location, area, structure, communal equipment, year of construction and method of use of the apartment,
- identification code from the building cadaster,
- name and surname of the owner, tax number of the owner, name and surname of the tenant and persons who will use the apartment together with the tenant,
- grounds for termination,
- type of rental by categories of rental housing,
- provisions on mutual obligations of the contracting parties in the use and maintenance of the dwelling and common parts of the residential building,
- the amount of rent and the method and deadlines for payment,
- the method of payment and the amount of costs not covered by the rent,
- provisions on the manner of use of the dwelling and in what way and in what time periods the owner will check the correct use of the dwelling,
- the duration of the tenancy, if the apartment is rented out for a certain period of time,
- manner of handing over the dwelling.
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Validity of the rental agreement for the apartment
The rental agreement can be concluded for a definite period of time or for an indefinite period of time. When a lease is concluded for a definite period of time, it will expire on the expiry of the period for which it was concluded. However, if the rental agreement is concluded for an indefinite period of time, its termination requires termination by the landlord or tenant.
Termination of the rental agreement
The tenant of the apartment can terminate the lease at any time without giving a specific reason. Cancellation must be given in writing. Unless the parties have agreed otherwise, a 90-day notice period applies.
On the other hand, the landlord can terminate the contract only if the tenant finds another suitable apartment to rent. The exception, of course, applies if the tenant violates the obligations within the rental agreement.
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