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Costs of a holiday property
Costs of a holiday property
You have to reckon with these ongoing costs

Holiday property costs

Service charges, taxes, insurance - that's what a holiday home costs

Even after buying your own holiday property, there are still costs for owners. Whether it's second home tax, insurance, maintenance costs or management commission - Meine Ferien Immobilie shows you the costs associated with your holiday property and how best to factor them in.

Ancillary costs for holiday properties

Holiday properties are usually rented including all consumption costs such as water, heating etc.. As a landlord, you must therefore deduct this warm rent from the monthly rental income or include it directly in the rental price. However, there are other additional costs that you should bear in mind.

Second home tax for holiday homes

If you have a holiday home next to your main home and do not want to rent it out for most of the year but also want to use it yourself more often, you will be liable for second home tax. Depending on the municipality, this can range from 5% in Berlin and up to 23% in Überlingen on Lake Constance.

Expert tip:
"Don't forget yourincome tax! The rental income from the holiday property must be taxed, especially if you want to deduct certain costs such as renovations etc. from your tax bill."

Holiday property insurance

A holiday property should be just as well insured as your main residence. This includes buildings insurance, household contents insurance and, especially for holiday homes by the sea or in the mountains, natural hazard insurance against the forces of nature. Public liability insurance also protects you against claims from tenants in the event of damage on site.

Hidden costs for holiday properties

The hidden costs of a holiday property include, for example, maintenance costs. These are usually higher than for an owner-occupied property, as the fact that the property is rented out on a weekly or daily basis means that there is more wear and tear on furniture, etc. Also not to be underestimated are the administrative costs for a local service provider who takes care of everything from handing over the keys to caretaker services and final cleaning.

Expert tip:
"Most owners use a local manager to rent out their holiday property. A commission of up to 25% of the gross rental income is payable for this."