Rental Prices in Vienna
Rents for unfurnished or furnished apartments in Vienna or other major cities and towns in Austria may vary. Rents depend on the location, the standard of the building, and the available facilities. Rent laws and regulations are applicable in various cases, particularly to older buildings. As their provisions are a rather complex and often complicated matter, it may be advisable to seek legal advice before signing a rent agreement or lease.
The Austrian law breaks down the costs of renting into three categories:
- Hauptmiete: Net Rent
- Betriebskosten: House Maintenance Costs
- Umsatzsteuer(VAT): Tax (10% of the Net Rent + House Maintenance Costs)
All together this is called “Bruttomiete” (Gross Rent)
Rental prices by area
Different Vienna district’s average rental prices per square meter
|District||<50 m²||51-80 m²||51-129 m²||>130 m²||average/m²|
|1., Innere Stadt||23,14||20,27||18,57||19,65||19,44|
Single payments when moving in
How much money you will need to move in
1st Month’s Rent: Bruttomiete
First of all you have to pay the 1st month’s rent. Sure that’s not a single payment but a part of the sum that is not to overlook.
Security Deposit (“Kaution”)
Security Deposit has to be paid to the owner or his representative.This is usually the rent for three months* required when the agreement is signed. If nothing has been damaged during the period of tenancy and the rents have been paid, the landlord is expected to return the security deposit with the accumulated interests. *This can vary depending on whom you rent from banks, insurance companies, etc may charge more but the legal limit allowed is 6 months.
How To Pay the Deposit
- Cash against receipt. The amount is refundable, usually including normal interest.
- Savings book. The amount is paid into a savings book at your bank that is handed over to the landlord, together with the password. The interest is in favour of the tenant.
- Bank guarantee. The bank grants a credit up to the amount specified in the lease agreement. The charges for the credit are approx 2% per annum and a one-time fee for issuing the certificate.
Most owners will accept a savings book from your bank to be handed over upon signing the lease or taking possession of keys against receipt. The interest is in favour of the tenant. In case the owner prefers cash it should be stated in the lease contract that the usual interest is granted to the lessee.
Deposits are refundable at the end of the lease, either prompt or within 4 weeks, provided that all bills have been paid and the apartment is in good condition.
Registration Fee (Vergebührung)
Almost every lease must be registered with the “Finanzamt” (Tax Office) and unless you come across a very generous landlord these are cost you will have to pay:
Befristeted Contracts are charged a fee of 1% of the Bruttomiete by the years of the lease. Since 1.1.1999 the maximum amount that can be charged for is 3 years.
Unbefristeted Contracts are calculated at Bruttomiete for is 3 years.
Real Estate Agent Commissions
Real Estate Agent commission (amounting for 1 to 3 months rent* depending on the length of the rental contract) Plus 20% VAT (on the net rent since Gross Rent Already includes the VAT)
* These are the legal rates that are supposed to be charged.
More then 3 years – 3 months rent
For at least 2 not more then 3 years – 2 months rent
For less then two years 1- months rent
Information Source:Konsumentenschutzgesetz, BGBI. Nr. 262/96 vom 11. Juni 1996
Financial fee (Verzugszinsen)
Contract Finical fee to the signature of any rental contract in Austria 1 %
This is a one-time payment to the preceding tenant to compensate for permanent, non-removable improvements. According to Austrian rental law, “Ablöse” can be exacted to compensate for substantive upgrades made to the standard of the rental property, such as the installation of a bathroom, toilet, heating system, new electrical wiring and other improvements.