Services

Top service for exceptional customers.

We are specialised in the provision of high-quality real estate properties for our clients such as expats, diplomats, executives, managers of international companies and investors. Each of our customers has an experienced real estate consultant at their disposal. Our comprehensive consultation is based on listening closely to our clients so we can meet their individual wishes and expectations as best as possible.

EXPAT CONSULTING creates market analyses, property assessments, professional presentations using high-quality photos and bilingual property descriptions as well as appealing exposés for the most important real estate platforms. www.expat-consulting.com – the name of our internet portal itself attracts prospective customers and expatriates form all over the world to our offered portfolio for purchase and rental of properties, presented and communicated to our national and international network of customers in an attractive form.

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Brokerage

Buyer and Tenant Services

Our experienced agents will search for a property that meets your needs. The agent represents the interests of the buyer or tenant and will negotiate on his or her behalf.

Seller and Landlord Services

Expat Consulting supports sellers or landlords and helps them to sell or rent their property at the best price.

We develop and implement effective advertising strategies for each property.

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Estimates

Expat Consulting specializes in selling and renting high-end properties and is market leader in this area. Our experienced real estate specialists will advise and assist you in realizing your aspirations.

In addition to the usual brokerage services, our various services include a non-binding and free appraisal of your property. This will demonstrate all the possibilities available.

We would be more than happy to estimate the value of your property free of charge, non-binding and descretely. Within one week after viewing the property we will send a written statement.

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Marketing

Full Service for your Property

Expat Consulting sets up marketing plans as well as sales documentation for each property and buys advertising space in national and international media.

On our website we list all properties which we offer for sale or rent. Information on the property will be sent to our registered clients who have given us their criteria.

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Purchasing

The following information will give you a general overview about purchasing a poperty.

Making a Proposal

After having seen and walked through the property one or more times, the agent will ask the prospective buyer to submit a written offer.

When signing a bid, the client must be aware that he is making a binding offer to purchase the property in question at a certain price.

The prospective buyer has to be aware that by submitting an offer, only the prospective buyer but not the seller is committed to the offer. The seller may continue to show the property to other potential buyers to receive additional offers and finally select the most attractive offer. In this case, an offer merely binds the prospective buyer, not the seller.

The offer, however, is not perpetual. Except as otherwise stated in the offer, an offer typically expires after a reasonable time period (two weeks). During this period the prospective buyer is committed to his offer.

If the seller accepts the offer within reasonable period, the parties have entered into a formal agreement. Drafting the purchase agreement will be only a formality.

From this point on the seller cannot back out of the contract, for example if another prospective buyer makes a better offer. After the offer has been accepted, both parties will have a lawyer or notary to set up the contract and settle the transaction.

The Purchase Agreement

The payment has to be made after the purchase agreement including payment terms, has been fully executed and notarized and purchase price funds have been secured (mortgage approval by bank).

The attorney or notary typically will assume the role of a trustee: He will hold the payment in escrow and transfer funds to the seller after title transfer in the land register or if the seller submits a "Rangordnungsbescheid" (which guarantees such title transfer in the land register).

A trusteeship should ensure the seller that he transfers his right to the property after having received the purchasing price. On the contrary the buyer should be assured that the seller only receives the purchasing price after the buyer has been entered into the land register.

Purchase by a foreigner

  • individuals holding a non-Austrian citizenship
  • legal entities and partnerships whose principal place of business or headquarters (according to the by-laws of such entity) is outside of Austria.
  • legal entities and partnerships whose principal place of business (according to the by-laws of such entity) is in Austria but non-Austrian majority ownership.
  • associations whose principal place of business (according to the by-laws of such association) is in Austria but the majority of voting members or the management board are non-Austrian [foreign]
  • foundations, trust or similar legal entities benefiting mostly (according to the by-laws of such entity) non-Austrian [foreign] individuals.

Citizens of Non-EU Countries

A citizen of a country not being a member of the European Union (EU) and not party to the European Economic Area treaty (EEA).

A citizen of a Non-EU country who wants to purchase property must file a petition including a statement as to whether the legal transaction will have any economic, social or cultural impact (designated use of the acquired property)

  • Social Interest
    Social interest is primarily evident if the person submitting the petition is buying the property for personal use. This also includes the bestowment of such property to the person submitting the petition, receiving the property in the form of a gift pre-empting the last will of a close relative.
  • Economic Interest
    Economic interest is evident if the acquiring entity is using the property for expansion purposes or if the acquisition ensures continuation of an existing business.
  • Cultural Interest
    Cultural interest is evident if a scientist is relocating to Austria for scientific or academic purposes. This must be approved in writing by the respective institution (ministery, university etc.)
  • Concerned Parties
    Foreigners are non-Austrian citizens. Concerned parties are legal entities whose principal place of business is outside of Austria and legal entities whose principal place of business is in Austria having a majority of non-Austrian ownership (i.e. the majority shareholder is either a foreign individual or a foreign legal entity).

Exceptions

The following applicants will receive confirmation of exception of their legal obligation to request a permit in accordance with the real estate regulations concerning foreign buyers.

  • Individuals and legal entities of an EU member country and Individuals and legal entities of an EEA member country. - These special arrangements are valid for people who are married to someone with European Union or EEA nationality, if the legal transaction is performed together. Consultation with a public official is advised.
  • Favoured by state-contractual obligations (these are persons who are employed by the following institutions:) UNO, CTBTO, ICMPD, UNIDO, OSZE, Joint Vienna Institute, OPEC Fonds, WASSENAAR ARRANGEMENTS, EU Patent-organisation, IAEA. For spouses these special arrangements are not valid. The only exception are people who are employed with the CTBTO.
     
  • Other: Iranian citizens, who are not employed; Swiss citizens and legal entities

Filing application is not necessary

  • When married couples purchase together and one of the spouses is in possession of an Austrian citizinship
  • For legal transactions of inheritance (acquisition of property due to a will or a Certificate of inheritance)
  • For real estate properties outside of Vienna the "Grundverkehrsgesetz" (Real Property Transactions Act) of the respective province is valid.

Expenses upon Purchase

When purchasing property there will be numerous additional expenses which usually are debited to the buyer. The basis for additional expenses forms the purchase price of the property.

The following additional expenses are to be considered:

  • 3,5% Property transfer tax
  • 1,1% Registration fee (land register)
  • between 1% and 3% excl. VAT to the notary or lawyer for drafting purchase agreement
  • Authentication fees and cash expenditures to the notary
  • 3% Broker's Commission fee excl. 20 % VAT
  • 1,2% Pledge registration fee
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Renting

Tenants or landlords have different rights and obligations, depending on whether and to what extent Act on Tenancy Law the "Mietrechtsgesetz" (MRG) is applicable:

  • full application to the MRG
  • partial application to the MRG
  • exemption from the MRG

MRG is applicable when renting apartments, in multi-party houses established before the end of the Second World War (mostly the full scope of application).

MRG is partly applicable when renting apartments in privately built new buildings, (partial application).

Properties leased after 31 December 2001 in a building with no more than two independent dwellings or business premises are completely exempt from the Act on Tenancy Law.

Briefly said the substantial difference between the three segments of the rental law consists of

  • full application to the MRG rent control and protection against eviction
  • partial application to the MRG only protection against eviction
  • full exemption from the MRG no rent control or protection against eviction

The lease offer

After having seen and walked through the property one or more times, the agent will ask the prospective tenant to submit a written offer.

When signing a bid, the client must be aware that he is making a binding offer to rent the property in question at a certain conditions.

The prospective tenant has to be aware that by submitting an offer, only the prospective tenant but not the landlord is committed to the offer. The landlord may continue to show the property to other potential tenants to receive additional offers and finally select the most attractive offer. In this case, an offer merely binds the prospective tenant, not the landlord.

The offer, however, is not permanently binding. Except as otherwise stated in the offer, an offer typically expires after a reasonable time period (two weeks). During this period the prospective tenant is committed to his offer.

If the landlord accepts the offer within reasonable period, the parties have entered into a formal agreement. Drafting the rental agreement will be only a formality.

From this point on the landlord cannot back out of the contract, for example if another prospective tenant makes a better offer. After the offer has been accepted, both parties will prepare a lease agreement and enter into a tenancy.

Limitation and termination notice

If the rental contract is only valid for a certain period of time, it can be extended in writing as often as needed.

In case of full or partial application to the MRG the duration of the tenancy agreement must be at least three years. Of course the duration of the tenancy agreement can be longer. In case of extension of the tenancy agreement the duration must again be at least three years.

If the duration of the tenancy agreement is limited and the MRG is applicable (full or partial application), the tenant is always entitled to withdraw from the contract after a year. This right cannot be restricted in a contract. The tenant has to give written notice three months before vacating the apartment (at the earliest at the end of the 16th month).

Single family houses

Single family houses or duplexes are not subject to Act on tenancy law and are completely exempt from the "MRG".

If a limited lease was agreed upon, the tenant does not have a premature legal right to terminate the lease. If the lease is for five years, the tenant cannot terminate the renting relationship without the agreement of the landlord. If one wants to keep himself protected, it is absolutely necessary in such cases to agree on an early termination by giving a few months notice.

Example:
"The tenancy agreement is for 5 years and begins on .......... and ends on .......... without termination required. Regardless of the agreed duration the tenant is allowed to quit the contractual relation prematurely by the end of each month by giving three-month notice."

Tenancy agreements can be set up individually. Only what has been agreed upon in the contract or "ABGB" general civil law book is valid.

Additional expenses

Please note that in case of renting premises, that additional expenses will be incurred. The following additional expenses are listed as follows.

1. Registration fee payable on tenancy agreements

Written tenancy agreements are subject to registration fee. Usually the tenant bears the cost.

The landlord has to calculate the fee and to transfer it to the responsible tax office of his (main) residence or the place and seat of the company. Within the same period a registration form needs to be sent to the tax office in order to inform them about the legal transaction.

1% of the gross rent (including VAT) for the duration of the tenancy agreement

but not more than 18 times of the annual value.

In case of an indefinite term of the tenancy agreement:

1% of the gross rent (including VAT) for three years.

  • Unlimited tenancy agreements are calculated with three-times the annual value
  • limited tenancy agreements are calculated with the length of the lease but maximum 18times of the annual value
  • limited tenancy agreements on apartments the fees are limited with thee-times the annual value

2. Realtor commission

In case of successful closing of a tenancy agreement by a Realtor a one time commission needs to be paid as follows.

  • Limited up to three years                                                          1 x gross rent + 20% VAT
  • Limited more than three years                                                   2 x gross rent + 20% VAT
  • open end                                                                                 2 x gross rent + 20% VAT

Calculation of the commission is based on the gross rent.

Gross Rent consists of:

  • Main Rent or Sublease Rent
  • proportionate operating cost and current public charges
  • portion for possible special expenditures (e.g. elevator),
  • possible payment for furnished apartment, equipment or other additional services by the landlord.

3. Deposit

The deposit (usually 3 gross monthly rents) covers rent payments or damages of the rented property. Three gross monthly rents (net rent plus operating cost plus value added tax) are usual.

The deposit can be paid to a savingsbook account or in cash. The landlord must deposit the money on a savingsbook account.

The rented property must be returned by the tenant in the condition, in which it was rented. "Usual wear and tear" the landlord must accept. Under normal conditions, if there are no objections by the landlord, the tenant receives back the deposit including interest, after termination of the lease.

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List a Property

Are you looking for a buyer or tenant?
Then trust your property to Expat Consulting!

We represent your interest and provide you assistance and advice for a quick sale or rental at the best possible market price.

Please fill in our online form and tell us more about your property. Please feel free to call us at +43 1 328 8818 or send us an email office@expat-consulting.com or feel in the following form.

After receiving your information we will contact you immediately.

List a Property

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