Anlegerwohnungen (Build-to-Rent for Private Investors)

 

When investing in an Anlegerwohnung, a form of Build-to-Rent for private investors, you usually buy a single flat. Compared to Bauherrenmodelle, another form of Build-to-Rent for private investors, this investment option has some disadvantages. Firstly, it needs to be amortised over a 67 year period. For Bauherrenmodelle it’s 15 years. Also, if not otherwise agreed, you as an investor will have to bear 100% of the loss of rent if your apartment is not let.

 

Another disadvantage of Anlegerwohnungen is that there are fewer state subsidies. There is also the risk of losing tax benefits retroactively if you are not making a profit in time, i.e. if the investment doesn’t yield revenue from letting activities after 25 years (+ three years construction) at the latest. In such a case, banks may suspect so-called Liebhaberei, which means that the apartment is not an investment but just a hobby of yours.

 

An advantage of this real estate investment compared to Bauherrenmodelle is that you don’t need as much capital to invest. Anlegerwohnungen are sometimes available for less than €100,000.