Key changes for property owners in 2024

For the real estate sector, 2024 will see the implementation of a series of significant changes that came into force at the end of 2023 or early 2024. It is essential for property owners to keep abreast with these latest developments in order to be able to make informed decisions and successfully navigate the ever-changing real estate landscape. This article will walk you through all of the information that you’ll need to know in order to anticipate and adapt your strategy to the changes that will redefine the real estate landscape in 2024. OP has been helping owners and investors manage their real estate since 1875.

The ‘preferential right’ in Brussels

In 2024, the Brussels-Capital Region will introduce a key regulation concerning the rights of tenants when their rented property is put up for sale. From now on, if an owner decides to sell their property, the tenant will have a ‘preferential right’, enabling them to buy the rented property before anyone else.

However, this right is subject to strict conditions: the tenant must have a long-term residential lease for an unfurnished property and must be domiciled there. This measure also applies to sub-let accommodation, student leases and joint tenants, provided that the tenant is domiciled there and uses the rented property as their principal residence. Note that the preferential right is not limited to the tenant, but extends to anyone living in the property being put up for sale. As such, the tenant's legal or de facto cohabitant as well as the tenant's or cohabitant's children are also entitled to this preferential right, provided that they are domiciled at the property.

How does it work?

The landlord is required to notify the tenant of their decision to sell the rented property by registered letter with acknowledgement of receipt, informing them of the price, the conditions of sale and the preferential right. The tenant then has 30 days to accept the offer and buy the property. If the property is subsequently offered to another buyer at a more favourable price or on better terms, the owner must inform the tenant, who will have another 7 days to exercise their preferential right.

Non-compliance with the preferential right

The tenant may take legal action against the buyer in order to become the owner of the property in the buyer's place by reimbursing the price paid. This procedure requires the seller to be present, enabling them to dispute the non-compliance with the preferential right as claimed by the tenant. The real estate agent and the notary are likely to be implicated in this legal action as well due to their specific obligations. It is in fact the real estate agent's responsibility to ensure that the seller complies with this requirement and to retain the necessary evidence. The tenant will have one year from the date on which the sale is recorded to bring this action, after which it will be too late.

Exceptions

There are exceptions to this preferential right, i.e. for short-term leases (maximum 3 years), sub-letting, joint or student leases, intra-family sales, multi-unit properties, sales linked to a company merger or liquidation, as well as sales of bare ownership, usufruct, life annuity or other rights in rem.

Smoke detectors now compulsory in Brussels

From January 2025, under new regulations in the real estate legislation, smoke detectors will be compulsory in all homes in the Brussels-Capital Region. This requirement already applies to rental accommodation, but will now be extended to all homes. With this measure, the Brussels-Capital Region moves to apply the same standards as the country's other regions, with Wallonia having already introduced this requirement in 2004, followed by Flanders in 2020. The Brussels-Capital Region is taking steps to improve residential safety by implementing national fire prevention standards. Property owners and residents will have to comply with these new regulations, marking a uniform approach to safety across the country.

Don't forget the application form

Since mid-October 2023, a new step has been introduced to the property rental process in Brussels. From now on, prospective tenants are invited to submit a standard application form (formulaire de candidature / formulier voor kandidaatstelling) as published in the Belgian Official Journal. The aim of this initiative is to give tenants guidance on what information they need to provide to landlords when applying for a tenancy. By standardising the process, tenants will have a better understanding of the documents required, while landlords can ensure they comply with anti-discrimination legislation.

A penalty for unoccupied properties?

In Brussels, such a penalty does apply. It is now an offence to leave a property or building intended for housing unoccupied for more than 12 months. Bruxelles Logement / Brussel Huisvesting plays an active role in identifying properties that appear to be unoccupied. As soon as a property has been identified as unoccupied, the owner receives a warning from Bruxelles Logement / Brussel Huisvesting, giving them 3 months to respond. During this period, the owner must either prove that the property is occupied, or explain why it is unoccupied by providing information such as scheduled or ongoing works, a legitimate reason or a case of force majeure. If no response or valid reason is received within 3 months of the warning being sent, an administrative fine will be imposed. This measure is designed to discourage long-term unoccupancy and encourage proactive property management in the Brussels-Capital Region.

Individual meters compulsory in Wallonia

Since August 2008, Wallonia has been moving forward towards a decisive approach to energy management in housing. Since that date, the installation of individual gas and electricity meters has been compulsory for all new homes and those undergoing major renovation. For apartment blocks built before 2008, the deadline for compliance with this requirement was set on 31 December 2023.

Since 1 January 2024, individual meters must be installed in all properties in Wallonia. Apartment owners who have not yet fitted these meters are required to do so at their own expense. Under this measure, distribution system operators are required to install individual meters, thus playing a crucial role in the transition to more accurate and responsible energy management at residential level.

Choose a partner that knows what they're talking about

In an ever-changing real estate landscape, the complexity of regulations and requirements can be a major challenge for property owners. It is therefore essential that you can rely on a competent, well-informed partner that can skilfully navigate this shifting landscape. The professional rental managers  at OP are key partners in this respect. These professionals constantly keep abreast with regulatory developments and market trends, offering landlords peace of mind for optimal rental management. If you entrust your properties to our expert hands, you can be sure that we will manage your investment diligently, correctly and efficiently, guaranteeing a balanced and profitable letting relationship. Interested? Contact us now.

Our packages

-        Financial Management Pack (from 3% per month excl. VAT): includes lease registration, rent collection and follow-up of unpaid rents and litigation. You can also add the optional rental placement and/or unpaid rent insurance.

-        Property Management Pack (from 8% per month excl. VAT): includes all the services included in the Financial Management Pack as well as other benefits:

o   Technical management

o   Statement of tenant fees

o   Reporting to the owner

o   Trustee contact

o   Quotes and monitoring of works

o   Inventory and energy performance certificate appointments

o   Accounts payable

o   Rental follow-up

-        Serenity Pack (from € 125 per month excl. VAT): includes all the services included in the previous two packs, as well as unpaid rent insurance and the optional rental placement service.