What is a rental property?

A rental property is an apartment, or other type of dwelling, that you rent from a property owner. The property owner is usually a municipality, a private individual or a company. When you live in a rental apartment, you pay rent every month and have a contract that, in most cases, is valid until further notice. As a tenant, you do not own the apartment and are therefore not responsible for the maintenance and care of the items belonging to the apartment, such as white goods and windows.

If you want to own your apartment instead, you can buy a condominium. You can read more about the difference between a rental property and a condominium in our detailed article.

What does tenancy mean and what is included in the rent?

A rental property is, as the name suggests, an apartment that you rent from the property owner. A tenancy agreement is signed before you move in, which includes information such as rent, rules and rental period. The lease is signed between the tenant, or tenants, and the landlord.

When you live in a rental apartment, you pay rent every month. The rent includes basic benefits such as waste disposal, property services, and maintenance of the property's public areas. Most apartment buildings also have a laundry room, parking, playground and storage space, all of which may be included in the rent or cost a monthly fee. Specifically, parking space is often a cost that is not included in the basic rent but has a separate charge.

Landlord's responsibilities in a rental property

In a rented apartment, the landlord is responsible for almost everything in the apartment and property you live in. The landlord ensures that everything in your apartment works as it should, is in good condition and that you have the conditions required for comfortable living. It is also the landlord's responsibility to ensure, for example, that the elevator works, that the waste is sorted and that the stairwells and corridors are clean and fresh. 

Tenant's responsibility in a rental property

As a tenant, you also have a responsibility when you live in a rented apartment, but it is not as great as the landlord's responsibility. The tenant is responsible for replacing consumables, such as light bulbs, as well as the cost of any damage caused by the tenant while living in the apartment. However, damage caused by wear and tear or normal use, such as to white goods and bathtubs, is not the tenant's responsibility.

The most important responsibility of a tenant is to follow the rules of conduct. Since you live in an apartment building that you share with several other residents, it is important that everyone follows the rules and respects their neighbors. The rules are often included in the rental contract or in an appendix that you receive when you move in.

How do you get a rental property?

Getting a rental apartment can be difficult in some parts of the country, while in some cities you can sign a contract and move in the same week. In Stockholm, Gothenburg and Malmö, for example, waiting times for rental apartments are often several years long. At Plain island we advertise our rental vacancies on our website and on HomeQ, an online marketplace for apartments. 

Advantages of living in rented accommodation

There are many advantages to living in a rental property compared to a condominium. Here we list some of the most important advantages:

• You do not need to invest a large amount of money on a down payment. When buying a condominium, you need to pay at least 15% of the value of the apartment, while a rental contract usually requires a deposit of 1-2 months' rent.
• You have a stable monthly cost and know how much you need to pay each month. You don't have to worry about interest rate increases affecting mortgages.
• If something breaks in the apartment, the landlord will help you with repairs.
• The landlord will replace broken appliances and other products belonging to the apartment, at no cost to you.
• Regular maintenance is included. Your apartment is regularly repainted or wallpapered. You can often choose your own paint or wallpaper from a selection offered by the landlord.
• It's easy to move without having to worry about selling your old apartment, the state of the housing market or paying estate agent fees.
• You also have the option of swapping apartments with another tenant renting from the same landlord.

Disadvantages of living in rented accommodation

There are also a few disadvantages of rental property to consider when choosing between rental and home ownership.

• You cannot renovate or make major changes to your apartment. In many cases, you can repaint or wallpaper yourself, but you cannot do major renovations such as replacing an entire kitchen or tiling the bathroom.
• As you do not own the apartment, you cannot share in the profits if the value of the property increases while you are living there.
• You have less influence on changes in the property. In a condominium, everyone in the association can vote on major decisions.
• Obligation to report faults and damage. You are responsible for reporting any faults and damage in the apartment in good time. For example, if you do not report a leaking pipe in the kitchen, you may have to pay for repairs from water damage because of this.

Frequently asked questions about tenancy rights

Here you will find answers to several Frequently asked questions about tenancy rights.

What is a rental property?

A rental property is an apartment, or other type of housing, that you rent. To live in a rental property, you need to sign a contract with the landlord and pay rent every month.

How much does it cost to live in a rental property?

The rent depends on the location of the apartment and the size of the living space. Other factors such as the age of the property, special benefits for residents and parking space can affect the rent. If you have cold rent, you also have to pay for water and electricity.

What are your responsibilities as a tenant?

As a tenant, you can live in and use your apartment according to the rules of order that apply where you live. You are responsible for costs that may arise if you have caused damage to the apartment due to negligence or recklessness. 

How long can you stay in a rental property?

Most rental contracts are valid until further notice and have a notice period of one to three months. This means that you can stay in the apartment until you or the landlord terminates the contract. There are also other types of rental contracts where the rental period is limited to a specific time period.