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Regie Minimum Income Rule
Jan 10, 2011 @ 17:30

Dear soon-to-be-neighbors,


My family and I will be moving to Geneva in the near future and have just begun the daunting apartment search.  I would greatly appreciate any advice you could offer on the following:


1. We have just been told by a relocation company that Regies will not allow us to rent an apartment for more than 1/3 of our income.  Is that true?  How strict are they on this rule? 


2. How difficult is it to rent an apartment without being bound by this rule, for example, by renting from someone other than a  Regie? 


3. Also, is it true that in performing the 1/3 calculation, they will not take into account a 6-month consulting contract (my wife's contract is for 2 years, mine is shorter-term).  


4. Is there anything else we can do to increase the minimum renting threshold (for example, demonstrate sufficient savings in our bank account?)?


Many thanks for your advice!


Greg

The text you are quoting:

Dear soon-to-be-neighbors,


My family and I will be moving to Geneva in the near future and have just begun the daunting apartment search.  I would greatly appreciate any advice you could offer on the following:


1. We have just been told by a relocation company that Regies will not allow us to rent an apartment for more than 1/3 of our income.  Is that true?  How strict are they on this rule? 


2. How difficult is it to rent an apartment without being bound by this rule, for example, by renting from someone other than a  Regie? 


3. Also, is it true that in performing the 1/3 calculation, they will not take into account a 6-month consulting contract (my wife's contract is for 2 years, mine is shorter-term).  


4. Is there anything else we can do to increase the minimum renting threshold (for example, demonstrate sufficient savings in our bank account?)?


Many thanks for your advice!


Greg


Gregory WJan 10, 2011 @ 17:30
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Re: Regie Minimum Income Rule
Post 1
Jan 11, 2011 @ 19:36

1. Yes, you should count on spending MAX 1/3 (better 1/4) of your income on rent.


2. It's not impossible to rent directly from the owner but it's rare, and (in the cases I knew) much less professional than from a regie. Subrents are often illegal but can be legal (approved by the regie), but they will always be temporary.


3. The 6-month contract seems a bit short. I work in a field where most of my colleagues (incl me) only get one-year contracts (renewed every year). In spite of a very good salary, I have known several colleagues who got refused systematically for flats because they had a limited contract (although the regies know how it works with that particular employer - a big employer in the public sector by the way...).


If you have money in the bank, yes, do show it off, it might help, although I doubt it will allow you to rent something way above the 1/3 of your salary....


Good luck!

The text you are quoting:

1. Yes, you should count on spending MAX 1/3 (better 1/4) of your income on rent.


2. It's not impossible to rent directly from the owner but it's rare, and (in the cases I knew) much less professional than from a regie. Subrents are often illegal but can be legal (approved by the regie), but they will always be temporary.


3. The 6-month contract seems a bit short. I work in a field where most of my colleagues (incl me) only get one-year contracts (renewed every year). In spite of a very good salary, I have known several colleagues who got refused systematically for flats because they had a limited contract (although the regies know how it works with that particular employer - a big employer in the public sector by the way...).


If you have money in the bank, yes, do show it off, it might help, although I doubt it will allow you to rent something way above the 1/3 of your salary....


Good luck!


eva77, Jan 11, 2011 @ 19:36
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Re: Regie Minimum Income Rule
Post 2
Jan 12, 2011 @ 12:15

I'm afraid the 1/3 rule is engraved in stone these days not only with the regies(most prefer less) but also with many owners. Finding lodgings in Geneva is a daunting excercise these days, wish you the best of luck!

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I'm afraid the 1/3 rule is engraved in stone these days not only with the regies(most prefer less) but also with many owners. Finding lodgings in Geneva is a daunting excercise these days, wish you the best of luck!


Rima R, Jan 12, 2011 @ 12:15
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Re: Regie Minimum Income Rule
Post 3
Jan 14, 2011 @ 16:06

Is the 1/3 rule calculated according to the gross or net wage?

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Is the 1/3 rule calculated according to the gross or net wage?


Sammy J, Jan 14, 2011 @ 16:06
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Re: Regie Minimum Income Rule
Post 4
Jan 14, 2011 @ 16:11

Is the 1/3 rule calculated according to the gross or net wage?


Jan 14, 11 16:06
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Charlie, Jan 14, 2011 @ 16:11
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Re: Regie Minimum Income Rule
Post 5
Jan 14, 2011 @ 16:17

its 40% gross

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its 40% gross


wendi4y, Jan 14, 2011 @ 16:17
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