Our Flat Management service is specialized in the management of residential properties in Budapest.
Currently our company manages apartment buildings of all sizes and single family homes, shops and commercial units.
We do everything required to maintain the property and provide you with the greatest return on your investment including, but not limited to:
Periodic property inspections
Kitchen furniture and basic appliances as hot plate, oven, exhaust fan, washing machine would be absolutely necessary. Moreover, the installation of the lamps and at least curtain rails is also something that you cannot miss. Sometimes tenants might have some special requests – those would be discussed and evaluated separately. Besides these it might happen that you would like to include some more installations in order to make the rental easier or to increase the value of the property. In these cases you will always be able to count on our sales agents professional help.
Your property will immediately be put on our list of available properties in our office. It is impossible to say exactly how long it will take to find qualified tenants for your property. Our average time to lease your home on the rental market varies depending on market conditions. A number of factors are involved: the size and location of the property, the overall condition of the property, the asking price relative to that of comparable properties in your neighborhood, and the time of the year. However, the market time for renting is generally much shorter than the time required to sell the same property, and landlords can usually expect to have tenants within 30 to 60 days. If a property does not rent within this length of time, it is generally a sign that it is overpriced relative to its size and condition. We begin marketing your rental home the moment it becomes ready to be rented, or as soon as the actual residents give us their notice of their intent to move out. We receive hundreds of calls from prospective tenants each month.
This is the most important aspect of the successful management of a rental property. Application processing is typically done by us in-house. In general, we look at an applicant's past behavior and assume their future behavior will be the same. An applicant must demonstrate a history of being a good, responsible tenant or homeowner as well as meeting industry standard financial criteria.
All prospective tenants are required to submit a written application and are screened to determine their eligibility based on the following factors: previous rental or mortgage history, length of employment and income in relation to monthly rent certificate from their employee, and other factors, such as number of occupants in relation to size of the property, size and age of pets. From every tenant we ask for certificates from their employees, income certificates correctly paid utility invoices or in case this cannot be issued, we require a warrantor person. We are required to comply with all state fair housing laws which make it illegal to discriminate in the sale or rental of property based on any of the following protected classes: race, color, religion, national origin, sex, handicap, familial status, or elderliness.
In addition to the normal financial qualifications, we always try to accommodate the housing needs of our tenants to ensure the home they rent is convenient to their work, shopping and desired school district. This will help to ensure that they will remain happy residents and remain longer in your rental property.
We strive to provide you with the caliber of residents that you want in your rental property.
We advertise very successfully on the internet, as well as locally. We also benefit greatly from being a known company in the area and in our highly visible location. Our clientele comes from all over Hungary as well as locally!
Advertising is done in appropriate local newspapers, as well as several free papers, rental services, internet sites, and studio and campus housing offices. We have built a good reputation within the area and receive many referrals.
We give it maximum exposure while it is for rent and we carefully scrutinize all interested parties.
Small, renovated, fully furnished apartments in central areas of Pest and Buda side near to universities.
Please check our website for updated news regarding the current market situation.
We are asked this question more than any other by new owner prospects. Of course it depends on a lot of factors, but in general, most apartments in Budapest are currently rented for about 4 to 7% annual return of the property's market sales value.
The most important thing to know is that the rental market is indifferent to your mortgage payment amount. The rental market does not care that you might have a negative cash flow, and will punish with extended vacancy periods those owners who overprice their rental homes. When you hire us, we will look at the rental market in your particular area, survey the competing homes, and make sure your home is priced so that it will be viewed favorably against the competition.
Additional service fees – if applicable:
Our property management fee is based upon a percentage of the rent and is deducted directly out of the rental payment when received.
Unquestionably, the largest expenses associated with property management are a result of vacancy rate and quality of tenant performance. Only by comparing the resources and services that address these concerns will one come to an understanding of the cost that may result from choosing one property management company over another. We invite you to consider the following:
The great majority of perspective tenants now use the web to find a rental home. We receive hundreds of hits per month, so our top search engine placement gives our owners an overwhelming advantage for having their rental properties “found” by thousands of prospective tenants. That translates into less vacancy cost and a better opportunity to select a qualified tenant.
Also, we have a sizeable leasing staff that allows us to be open for business 7 days a week. We rent our apartments while our competitors are taking the weekend off.
Additionally, we have an extensive referral network with other realtors. Our web site has inbound links from other real estate companies.
The property should be covered by insurance at all times. Liability insurance should fully cover the property and the Owner’s furniture. The cost difference between policies is minimal. Insurance will protect you against liability and also fire, but will not protect you against outstanding rental payments. Your policy will not cover any of the tenants' belongings, they can obtain their own insurance for the duration of the leasing period.
The cost of insurance shall be the Owner’s responsibility, which is approximately 100-200 EURO/year.
In any event, the Management shall not be responsible for property damage and/or bodily harm of any party.
Yes, you are required to pay tax in Hungary on the rental incomes received for your properties in Budapest.
According to the law - you have to pay tax in Hungary on your rental income generated in Budapest.
Please find general information on the Hungarian Tax Authorities Official website at: https://en.nav.gov.hu/
If you have any further specific queries, please be so kind to contact us and we will be more than pleased to assist You.
The Management can support and provide the Owner with bookkeeping services by an accounting firm who shall take care of filing all the necessary periodical reports, as requested by the Hungarian law. The yearly cost of the service is to be paid by the Owner and it amounts to approximately 180 EURO + VAT - depending on the activities performed. Please contact us for quotation.
Management by no means has any responsibility of the activities of the Owner and/or of the accounting firm.
Regularly at the end of each quarter you will receive a statement of your account by email. This same report will always be at your disposition on your personalized online account as well. This statement will show you the income, expenses and current balance of your account. The statement will also reflect the amount of your proceeds for the month. If you require a report at any other time, please let us know and we will send you a computerized statement within 24 hours.
The quarterly statement will show you all incomes and expenses for the accounting period. You will also receive a letter detailing the activities at your property during the past quarter. Besides these any financial report, event related to your property, letting condition, pictures, etc can be checked 24/7 at your personalized online account.
Our Flat Management service is specialized in the management of residential properties in Budapest.
Currently our company manages apartment buildings of all sizes and single family homes, shops and commercial units.
We do everything required to maintain the property and provide you with the greatest return on your investment including, but not limited to:
Periodic property inspections
Kitchen furniture and basic appliances as hot plate, oven, exhaust fan, washing machine would be absolutely necessary. Moreover, the installation of the lamps and at least curtain rails is also something that you cannot miss. Sometimes tenants might have some special requests – those would be discussed and evaluated separately. Besides these it might happen that you would like to include some more installations in order to make the rental easier or to increase the value of the property. In these cases you will always be able to count on our sales agents professional help.
Your property will immediately be put on our list of available properties in our office. It is impossible to say exactly how long it will take to find qualified tenants for your property. Our average time to lease your home on the rental market varies depending on market conditions. A number of factors are involved: the size and location of the property, the overall condition of the property, the asking price relative to that of comparable properties in your neighborhood, and the time of the year. However, the market time for renting is generally much shorter than the time required to sell the same property, and landlords can usually expect to have tenants within 30 to 60 days. If a property does not rent within this length of time, it is generally a sign that it is overpriced relative to its size and condition. We begin marketing your rental home the moment it becomes ready to be rented, or as soon as the actual residents give us their notice of their intent to move out. We receive hundreds of calls from prospective tenants each month.
This is the most important aspect of the successful management of a rental property. Application processing is typically done by us in-house. In general, we look at an applicant's past behavior and assume their future behavior will be the same. An applicant must demonstrate a history of being a good, responsible tenant or homeowner as well as meeting industry standard financial criteria.
All prospective tenants are required to submit a written application and are screened to determine their eligibility based on the following factors: previous rental or mortgage history, length of employment and income in relation to monthly rent certificate from their employee, and other factors, such as number of occupants in relation to size of the property, size and age of pets. From every tenant we ask for certificates from their employees, income certificates correctly paid utility invoices or in case this cannot be issued, we require a warrantor person. We are required to comply with all state fair housing laws which make it illegal to discriminate in the sale or rental of property based on any of the following protected classes: race, color, religion, national origin, sex, handicap, familial status, or elderliness.
In addition to the normal financial qualifications, we always try to accommodate the housing needs of our tenants to ensure the home they rent is convenient to their work, shopping and desired school district. This will help to ensure that they will remain happy residents and remain longer in your rental property.
We strive to provide you with the caliber of residents that you want in your rental property.
We advertise very successfully on the internet, as well as locally. We also benefit greatly from being a known company in the area and in our highly visible location. Our clientele comes from all over Hungary as well as locally!
Advertising is done in appropriate local newspapers, as well as several free papers, rental services, internet sites, and studio and campus housing offices. We have built a good reputation within the area and receive many referrals.
We give it maximum exposure while it is for rent and we carefully scrutinize all interested parties.
Small, renovated, fully furnished apartments in central areas of Pest and Buda side near to universities.
Please check our website for updated news regarding the current market situation.
We are asked this question more than any other by new owner prospects. Of course it depends on a lot of factors, but in general, most apartments in Budapest are currently rented for about 4 to 7% annual return of the property's market sales value.
The most important thing to know is that the rental market is indifferent to your mortgage payment amount. The rental market does not care that you might have a negative cash flow, and will punish with extended vacancy periods those owners who overprice their rental homes. When you hire us, we will look at the rental market in your particular area, survey the competing homes, and make sure your home is priced so that it will be viewed favorably against the competition.
Additional service fees – if applicable:
Our property management fee is based upon a percentage of the rent and is deducted directly out of the rental payment when received.
Unquestionably, the largest expenses associated with property management are a result of vacancy rate and quality of tenant performance. Only by comparing the resources and services that address these concerns will one come to an understanding of the cost that may result from choosing one property management company over another. We invite you to consider the following:
The great majority of perspective tenants now use the web to find a rental home. We receive hundreds of hits per month, so our top search engine placement gives our owners an overwhelming advantage for having their rental properties “found” by thousands of prospective tenants. That translates into less vacancy cost and a better opportunity to select a qualified tenant.
Also, we have a sizeable leasing staff that allows us to be open for business 7 days a week. We rent our apartments while our competitors are taking the weekend off.
Additionally, we have an extensive referral network with other realtors. Our web site has inbound links from other real estate companies.
The property should be covered by insurance at all times. Liability insurance should fully cover the property and the Owner’s furniture. The cost difference between policies is minimal. Insurance will protect you against liability and also fire, but will not protect you against outstanding rental payments. Your policy will not cover any of the tenants' belongings, they can obtain their own insurance for the duration of the leasing period.
The cost of insurance shall be the Owner’s responsibility, which is approximately 100-200 EURO/year.
In any event, the Management shall not be responsible for property damage and/or bodily harm of any party.
Yes, you are required to pay tax in Hungary on the rental incomes received for your properties in Budapest.
According to the law - you have to pay tax in Hungary on your rental income generated in Budapest.
Please find general information on the Hungarian Tax Authorities Official website at: https://en.nav.gov.hu/
If you have any further specific queries, please be so kind to contact us and we will be more than pleased to assist You.
The Management can support and provide the Owner with bookkeeping services by an accounting firm who shall take care of filing all the necessary periodical reports, as requested by the Hungarian law. The yearly cost of the service is to be paid by the Owner and it amounts to approximately 180 EURO + VAT - depending on the activities performed. Please contact us for quotation.
Management by no means has any responsibility of the activities of the Owner and/or of the accounting firm.
Regularly at the end of each quarter you will receive a statement of your account by email. This same report will always be at your disposition on your personalized online account as well. This statement will show you the income, expenses and current balance of your account. The statement will also reflect the amount of your proceeds for the month. If you require a report at any other time, please let us know and we will send you a computerized statement within 24 hours.
The quarterly statement will show you all incomes and expenses for the accounting period. You will also receive a letter detailing the activities at your property during the past quarter. Besides these any financial report, event related to your property, letting condition, pictures, etc can be checked 24/7 at your personalized online account.
May we assist you? Please contact us!
