Real estate glossary

Ancillary costs (Nebenkosten) are ongoing operating expenses incurred by the landlord from running a property, which can be passed on to the tenant in addition to the base rent, provided this is agreed upon in the lease agreement.

The apartment handover refers to the formal return of a rental apartment by the tenant to the landlord upon termination of the tenancy. It includes a joint inspection, the documentation of the property's condition in a handover protocol, and the return of all keys. The objective is to record the state of the apartment in a legally secure manner.

The handover of the apartment refers to the formal process of transferring a rental apartment between landlord and tenant, both when moving in and when moving out. It includes the inspection, the recording of meter readings, and the documentation in the handover protocol.

The tenant changeover describes the entire process from a tenant moving out to a new tenant moving in. It includes termination, marketing, selection, and handover of the apartment.

A commission agreement is a contract between the client and the real estate agent that regulates the amount, due date, and conditions of the agent's commission.

Cosmetic repairs are measures taken to eliminate signs of wear and tear, such as painting or wallpapering.

The credit check refers to the assessment of a prospective tenant's financial reliability. It serves to estimate the risk of payment defaults and is generally based on information such as income, SCHUFA (credit bureau) data, and past contractual relationships. Especially when demand is high, it determines which interested parties make the shortlist.

The energy certificate evaluates the energy efficiency of a building and provides information on energy consumption or demand. It is a mandatory document for renting and selling and must be available at an early stage. Missing information leads to delays or legal risks.

The handover protocol is a written document that records the condition of a rental apartment at the time of handover. It documents defects, meter readings, keys, and agreements between the tenant and the landlord.

An index-linked rent is a rental agreement in which the rent is linked to the development of the consumer price index. If the index rises, the rent can be adjusted accordingly.

Lead management refers to the structured recording, administration, and selection of prospective tenants in the leasing process. The goal is to process inquiries efficiently and select suitable tenants.

Personal use (Eigenbedarf) occurs when a landlord requires a property for themselves or close relatives and therefore terminates the lease.

A real estate exposé is a structured presentation of all relevant information about a property. It is used for marketing purposes and is intended to give interested parties a comprehensive overview.

The rent control cap is a legal regulation that limits the rent amount when re-letting in certain regions. The goal is to prevent excessive rent increases. Misinterpretations lead to legal risks and potential claims for repayment.

The rent index indicates the local comparative rent for apartments in a region.

The tenancy agreement is a legally binding contract between landlord and tenant regarding the provision of a property in exchange for payment of rent. In particular, it regulates the rental price, use, duration, as well as the rights and obligations of both parties.

The security deposit is a security payment from the tenant to the landlord to secure claims arising from the tenancy. It may not exceed a maximum of three months' cold rent (excluding utilities) and must be invested separately from the landlord's personal assets.

The service charge statement is the annual comparison of the operating costs actually incurred with the advance payments made by the tenant. The basis is the service charges agreed in the tenancy agreement.

A subsequent tenant is a person who takes over an apartment after the previous tenant and enters into a new tenancy.

The termination of a lease agreement ends the tenancy and is subject to statutory notice periods as well as formal requirements.

The vacancy rate describes the proportion of vacant apartments in relation to the total housing stock. It is a key metric for assessing the rental situation and a central indicator for the efficiency of leasing processes. High values indicate structural problems.

The viewing appointment refers to the agreed time at which interested parties view a property on-site or digitally. The goal is to get a realistic picture of the condition, location, and suitability of the property and to clarify any open questions.