First letting of a new build: letting off-plan – with no vacancies at move-in
An apartment building with eight flats that stands empty for three months at move-in quickly costs the developer CHF 40,000 in lost rent – on top of the ongoing mortgage interest. The first letting is therefore not an appendix to the building project, but part of the planning.
In brief
- Start of marketing: 4 to 6 months before move-in
- Visualisations, floor plans and building specification replace the photos
- Calculate the rent based on investment costs and comparative rents
- Contracts with an “expected” move-in date and a clause for delays
- ImmoBilà fee: one month’s rent per flat let – only on success
The timeline
- 6 months before move-in: rent calculation, marketing documents, prepare website/listings
- 4–5 months before move-in: listings live, first viewings on the construction site with helmet
- 3 months before move-in: bear in mind prospective tenants’ notice periods – anyone giving notice now can move in on time
- 1–2 months before move-in: contracts signed, targeted advertising of remaining flats
- Move-in: handovers with report, defect list to the site management
Documents for off-plan marketing
- 3D visualisations of façade and interiors
- Scale floor plans with floor areas per flat
- Building specification: kitchen, bathroom, flooring, heating, ventilation, washer-dryer tower, parking spaces
- Site plan, surroundings, public transport links, schools, shopping
- Draft rent roll with net rent, service charge advance, parking rents
Rent calculation in a new build
In a new build there are no previous rents – the rent is derived from the investment costs: land value, construction costs, ancillary costs, capitalised at the permissible net yield (reference rate + 2 %) plus operating costs and reserves. The second check is comparative rents for new-build flats in the municipality. Anyone starting too high ends up not letting the least attractive flats at all; anyone starting too low is tied in for years.
New-build 3.5-room flats in Liestal, Pratteln or Füllinsdorf are currently offered at between around CHF 1,900 and 2,400 net, 4.5-room flats between CHF 2,300 and 3,000 – depending on location, fittings and outdoor space. We assess the specific location.
Marketing and viewings
- Listings on Homegate, ImmoScout24 and other portals – with visualisations and floor plans
- Project page with all flats and availability
- Viewings on the construction site: in groups, with safety equipment, in consultation with the site management
- Show flat as soon as one unit is finished – significantly increases the closing rate
- Credit check as with any letting: debt enforcement extract, proof of salary, references, liability insurance
Tenancy agreements before completion
The tenancy agreement is signed before completion. Important: state the move-in date as “expected” and agree a clause for construction delays (postponement of the start of the tenancy without compensation up to a defined deadline). Deposit at most three months’ rent in a blocked account. Service charges on account – in the first year there are no empirical values, so calculate cautiously and adjust after the first year.
Typical mistakes
- Starting too late – prospective tenants have three-month notice periods
- Only floor plans, no visualisations – laypeople cannot read plans
- All flats at the same price per square metre – penthouse and ground floor differ by 20 % and more
- No clause for construction delays – tenants who have given notice on their flat claim compensation
- Management and accounting not arranged – from move-in, service charges and reminders start running
Questions on this topic.
What does the first letting cost?
One month’s rent per flat let – due only once the contract is signed.
- Visualisations and listings included
- No tenant, no costs
From when can I sign contracts?
As soon as the move-in date can be reliably planned – usually 3 to 4 months before completion.
- With a clause for delays
- In the event of major delays, inform early
Do you also take over the management afterwards?
We concentrate on letting.
- Property accounting and service charge statements via our property fiduciary services with Roman Frey
- For technical management we recommend proven partners in the region
New build in planning?
We start the first letting before the shell is up – so that everything is let at move-in.
Let’s talk about your property.
Call or write to us – reply within 24 hours.
ImmoBilà GmbH · Schneckelerstrasse 1, 4414 Füllinsdorf
info@immobila.swiss · Mon–Fri 8:00–12:00, 13:30–17:30