When you rent a flat in Milan, being it with a professional real estate agent or directly dealing with the landlord, it’s always good to keep in mind few fey issues to check out in order for the contract to be valid and the parameters you may consider to negotiate.
First: the contract must be a 4+4 years contract, using a shorter term duration contract – what is know as “contratto transitorio” is not legally robust as the owner is allowed to use that kind of framework only using “capped” prices that are in general 1/2 or even 1/3 of current market rates. Using the “transitorio” paradoxically gives you the possibility to go to a judge and pay much less than what is agreed on paper, but we suggest to use a robust legal framework from the beginning not to have any issued going forward.
Second: it must be very clear what is included and what not, is the furniture you saw when you visited it included in the deal or was it the former tenant’s, are the electric appliances owned by the owner who is responsible for their correct functioning or are they just a left over from former tenants? All these issues must be put in writing because they make a great deal for the start up of your stay and for its management going forward in case something gets broken.
Third: check, and eventually negotiate if you are not happy with them, the number of months at the beginning in which you are not authorised to give notice. This is a standard practice in order not to have people exploiting long term rent prices for staying in a property short term. 6-9 months is the standard, accept more only if the owner is giving you something for it, maybe in terms of renovations and new features. The same is true for the notice period, for small sized flats the current standard is 3 months, accept more (but never more than 6) if you get something in exchange.
Last thing to check, this only if you deal through a real estate agent, are the intermediation fees you’ll be charged – the Bureau of Commerce in Milan dictates 10% of the net yearly rent (without expenses) + VAT, one month full rent is more or less the same, do not accept to pay more unless, as usual, you are getting something in exchange, for example a very good deal on the rent side with the landlord.
We will provide to our subscribers a complete checklist to fill in when you’ll be visiting flats in the coming weeks, that you’ll be able to download and print when you visit new properties.
As usual for any doubts and questions, feel free to write to:
Il contenuto del blog non costituisce nè sollecitazione al pubblico risparmio, nè consulenza personalizzata, come indicato dall'art. 1 c. 5 septies del D.Lgs 58/1998 (T.U.F.), modificato dal D. Lgs 167/2007. Gli autori del blog non conoscono le caratteristiche personali di ciascuno dei potenziali lettori, in particolare in merito di consistenza patrimoniale, flussi reddituali, capacità di sostenere perdite. Il lettore del blog è il solo responsabile di ogni decisione operativa e deve operare in base alle sue conoscenze ed esperienze. Tutti gli strumenti finanziari comportano un rischio che può determinare sia dei profitti che delle perdite. Gli investimenti in prodotti finanziari con "effetto leva" - esplicito od implicito - quali cambi, derivati e materie prime, possono essere molto speculativi e non essere quindi adatti a tutti gli investitori e a tutti i lettori di questo blog. E' possibile che gli autori siano direttamente interessati, in qualità di risparmiatori privati o di professionsiti della finanza, all'andamento degli strumenti finanziari descritti, ne detengano in portafoglio e/o svolgano attività di trading in proprio sugli stessi strumenti citati.