Most foreign property owners in Bulgaria personally use it only a small period of time during the tourist season. In the rest of the year the apartment is either empty or for rent. In the first and in the second case it is associated with certain difficulties: it is necessary to pay the bills, and in the case of a lease - to monitor the condition of the dwelling, to carry out cleaning and minor repairs, to solve the financial problems.
As the number of foreign owners in Bulgaria grows, the demand for services of property management. This market segment continues to grow with Bulgarian and foreign players. These include many major international real estate Agency.
Usually the company managing the property, provide two kinds of services:
- concern for the proper condition of residential facility (facilities management);
- managing rental properties (property management).
That include such services? What are the benefits for foreign owners? You need to consider charging third-party property management company? Let's take a closer look at these questions.
The management of the state residential facility
Question about managing property in gated residential complex solved quite simply. As a rule, developers of the company are composed of divisions which take care of all related services to residential buildings. This includes security, cleaning of common areas, care of adjoining territory. As additional options the customers are provided with housekeeping services, payment of receipts for utility payments and real estate taxes. Therefore, at the stage of acquisition of property the buyer signs a contract with the Builder for maintenance, which shall detail the powers of the company and the scope of services for the management of a residential facility.
The cost of property management varies depending on the type of the residential complex, the location of the object, the volume of services provided. The average annual fee is usually less than 15 euros per square meter and is adjusted annually depending on inflation level in the country.
In the case of purchase of a private home, Villa or housing in the secondary market, can you trust the issue of managing property of private companies, such as real estate Agency, which acquired housing. You can instruct the company cleaning services residential facility, monitoring the technical condition of all systems, payment receipts, an annual property tax.
Property rental management
In most cases foreigners or Bulgarian citizens purchase property in Bulgaria at seaside resorts with a view to its subsequent lease. For the first category of owners of third-party management company rent - a lifeline, as in most cases the owners themselves are unable to reside on the territory of Bulgaria and to decide with tenants all the questions. A Commission the company is paying for peace of mind. For nationals of Bulgaria who do not want to deal with tenants, it's also a good opportunity to receive a stable income without much ADO.
What responsibilities are assumed by the management company?
- Finding tenants and negotiations with them;
- The negotiation and signing of leases;
- The receipt of rent from tenants and its regular transfer to the new owner.
- Control the state of the object and organization of routine repairs;
- The cleaning before new tenants;
- Payment of utilities and taxes.
How is the cooperation?
Between the property owner and management company, signed a contract, which sets out the obligations of the parties, the fees and other terms of cooperation. Such a contract can be for one, two or more. After signing the contract, the owner transmits a set of keys and Bank details of the account to which shall be deposited the monthly rent.
The size of fees of a mediator is usually 10-30% of the amount of rent. In some cases, especially when the residential object has good quality and is attractive from the point of view of the rental place, the company may pay the amount to the owner in advance, based on prices long term rental. The benefit of the management company is to obtain higher amounts for the expense of rental property for rent.
The benefits of foreign owners
Services company property management saves time and nerves of foreign homeowners. It provides:
- some financial guarantee of the preservation of property,
- regular income from leases,
- protection from deception by unscrupulous tenants.
Recommendations: the choice of the management company need to be responsible and to choose only a reliable broker with a good reputation. Also signing a contract, pay attention to all the details and don't forget to consult with a lawyer.
The company “BolgarskiyDom” offers services for property management in Bulgaria favorable for conditions. To learn the details of cooperation and prices, please contact us by phone on the website or via the feedback form, or read the specially prepared material:
