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Use home loan savings contract as a tenant: what is possible
Use home loan savings contract as a tenant: what is possible
Video: Use home loan savings contract as a tenant: what is possible
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When tenants renovate, home savings contracts are also used: they offer more options than it seems at first glance. Even tenants can benefit from cheap loans, for example when modernizing.

Table of contents Table of contents Use building society contract as a tenant: What is possible

  • Building society savings contract as a tenant: An expert recommends this
  • What can I modernize as a tenant?
  • Tip: "Building savers are always flexible"
  • Regulations at a glance

Table of contents Table of contents Use building society contract as a tenant: What is possible

  • Building society contract as a tenant: An expert recommends this
  • What can I modernize as a tenant?
  • Tip: "Building savers are always flexible"
  • Regulations at a glance

When talking about home savings, most people immediately think about buying or building real estate. Not so Klaus Langner: He has no intention of acquiring property. The Berlin upholsterer lives for rent in a house that is so cheap and dreamily located that he wants to grow old there. The only problem: the house is not suitable for senior citizens. That is why he signed a home savings contract a few years ago. As soon as the allocation is ready, he wants to modernize, remove thresholds and move all important living spaces to the ground floor. In addition, smart home technology should make life easier and help save energy. He already has the consent of his landlord, maybe he even gives a grant. In the end, that is not critical. Because regardless of whether tenants are involved in the landlord's modernization work or whether they are acting on their own responsibility, they can use building savings - provided they use it immediately. Debts previously raised for modernization may also be redeemed.

Wohnung modernisieren
Wohnung modernisieren

Building savings can also be used in the modernization of rental houses and apartments.

Photo: iStock / hanohiki

Building society savings contract as a tenant: An expert recommends this

“In general,” explains Guido Stohlmann, regional director at LBS Braunschweig, “a home loan contract offers a wide range of uses. The keyword catalog ranges from A for demolition to Z for a second garage.”Ultimately, it is crucial that home savers invest in private living. Then you can use saved credit and the cheap loans, which are granted up to the amount of 30, 000 euros without security in the land register.

The prescribed "residential use" includes everything that serves the acquisition, construction, modernization and expansion. The demolition that is associated with a new building is just as much a part of it as the architect's fee, but the brokerage fee is not. In addition, building savings can be used to design interiors and to increase living comfort - provided that the buildings are firmly connected to the property.

Stohlmann likes to illustrate this visually: “Imagine turning a house upside down and shaking it. Anything that stays tuned can be financed with building savings. Anything that falls out does not.”The accessible bathroom, for example, is one of them, but the individual furniture is not.

What can I modernize as a tenant?

If the apartment does not meet your own taste, the tenant can remodel it. This applies to floor coverings as well as to the color on the walls - the landlord may not prescribe anything here. However, the rooms must be in their original condition at the end of the contract. However, if the resident wants to make major structural changes, he needs the landlord's approval. Anyone who does not obtain approval can be terminated without notice.

So if tenants renovate their kitchen or bathroom at their own expense, or want to provide the apartment with burglar-proof systems or smart home technology, they should speak to the landlord in advance. Often this is interested in adjustments, he has to tolerate necessary barrier-free conversions. However, the landlord can make his permit dependent on the tenant providing additional security for the dismantling. Both sides should also determine what happens if the tenant moves out unexpectedly soon. Can he then take the internals with him or does the landlord replace them? A written modernization agreement helps to avoid disputes. It can also be discussed that the landlord pays the costs. Then the tenant can leave possible claims for a grant, for example from long-term care insurance.

Tip: "Building savers are always flexible"

LBS regional director Stohlmann reveals: “Building savers not only have a lot of freedom when it comes to using their building savings. You can also start the property project flexibly. Those who want to buy, build or modernize immediately can benefit from the so-called pre-financing loan. The principle is very simple: loan and building society contract are concluded at the same time. During the savings phase, only the interest accrues on the loan. The repayment is made in one sum with the allocation of the building society contract. From then on, the customer only pays the home loan. A big advantage: the interest is fixed for the entire financing.

Eligible building society savers benefit from state funding over the entire term. For example, families can save over € 20, 000 on loans of € 150, 000. Your LBS advisor knows which Riester benefits you can achieve personally.”

Handschlag
Handschlag

If you want to make major structural changes as a tenant, you should first discuss this with the landlord.

Photo: MEV

Regulations at a glance

Usable for:

  • Construction and purchase of real estate, including holiday homes, which are habitable all year round
  • Architects' fees
  • Redemption of liabilities secured by land charges in the land register
  • in the case of inheritance: replacement of shares of other co-heirs that are bound together
  • Conversion suitable for the disabled, for example the bathroom
  • Built-in furniture - if they are an integral part of the building
  • Repair and maintenance work
  • Kitchen: Fitted kitchens only if they are an integral part of the building
  • Modernization of heating systems
  • Modernization measures that are carried out as tenants. Or tenant participation in the landlord's modernization services
  • Carpeting
  • Installation of smart home systems
  • Sauna and swimming pool

Not usable for:

  • Holiday homes abroad
  • Brokerage brokerage
  • Redemption of consumer loans, for example car loans
  • Settlement of a mandatory part claim
  • Bathroom furniture
  • furniture that is not firmly anchored, e.g. free room dividers
  • Repairs that are insignificant in relation to the total value of the house
  • Kitchen furniture, just as little as the standard fitted kitchen
  • Repair of heating systems
  • Transfer services to previous tenants
  • Carpets
  • Consumer electronics
  • Mobile pools

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