Property management

PROPERTY MANAGEMENT

GOOD MANAGEMENT DOESN’T COST, IT PAYS!

A TRANSPARENT MANAGEMENT TEAM WITH EXPERIENCE THAT WILL:

  • Fill vacancies
  • Advertise your rental
  • Handle all tenant complaints and repairs
  • Inspect the unit on a regular basis
  • Lease signing
  • Full service repair
  • Assist in the renovation of the apartment
  • Prepare rents bills and collect the rent
  • Review and pay invoices
  • Accounting
  • Legal services
  • Handle Tenant excuses
  • Evictions
  • Assist in the sale of the unit if needed

AUTOMATED NOTIFICATIONS VIA SMS AND EMAIL

  • Collection of rents and expenses
  • Repairs being performed on the premises
  • Any pending litigation
  • Reports for the property are accessible 24/7 ONLINE

MARKETING & LEASING

 

  • Listing your rental property with photos and a full description on our website, along with a variety of online listing sites to encourage visibility of your properties.
  • Also listing your property on multiple listing services making it available to local realtors to view.
  • Conducting a comprehensive applicant qualification screening process to ensure that we are obtaining the best possible tenant.
  • Renting your property for the agreed upon price and never for less without the owner’s permission first.
  • Obtaining a reservation fee to take your property off the market.
  • Scheduling in a timely manner an appointment to meet with the qualified applicant for signing the lease agreement. Answering any questions they may have at that time.

LEASE RENEWALS

  • Attempting to renew the lease with the current tenant at least 60 days prior to the expiration of their rental agreement, unless otherwise instructed in writing.
  • Renewing the lease at a higher rent whenever possible. We never agree to lower rent without your explicit written permission.
  • Notifying you via phone, email, or in writing when we learn your property is becoming vacant.
  • Immediate marketing of your property for a new qualified tenant if the current tenant does not intend to renew or re-enter into a new rental agreement, unless otherwise instructed in writing.

PROPERTY INSPECTIONS

  • If this is a new property to us, we will conduct an initial comprehensive internal/external inspection, make a written report and document any concerns with photos.
  • A “move-out” inspection is done to document the condition of the property as soon as it becomes vacant.
  • Annual interior inspections done at owner’s request, photo documentation provided at an additional charge.

TENANT RELATIONS

  • Making every reasonable attempt to collect rent in a timely manner.
  • Conducting our business relationships fairly and equally with all our tenants.
  • Renewing the lease with the current tenants at a higher rate whenever possible.
  • Expecting all tenants to comply with all the terms and conditions stated in the signed rental agreements.

IF A TENANT DEFAULTS

  • Serving any applicable legal notices necessary to insure compliance with rental agreement.
  • Following up with any legal notices to determine that the tenant has complied in a timely manner.
  • Delivering a “Late Notice” (a prerequisite to an eviction for non-payment of rent) on the 11th day of the month.
  • Directing our eviction attorney to begin the eviction process against a delinquent tenant after the “Late Notice” expires and proper action from the tenant has not been taken, unless we are instructed by you in writing to delay for any reason.

REPORTING TO OWNERS

  • Paying vendors on the owner’s behalf for work performed on the property.
  • Providing you with a Income Form along with a Profit & Loss statement at the end of each calendar year to assist you in your tax preparation.
  • Making payment deposits into the owner’s accounts each month.

REPAIRS, MAINTENANCE, & UPGRADES

  • Consulting you regarding any expenditure, unless it is an emergency affecting the safety of the tenant or the integrity of the property.
  • Arranging and authorizing the necessary services to maximize the properties appeal to prospective tenants thus expediting the leasing process and minimizing vacancy time. Examples would include, but not be limited to, painters, carpet cleaning or replacement and minor repairs.
  • Drawing from any forfeited security deposit funds to address expenses that were the previous tenant’s responsibility.
  • Utilizing only properly licensed and insured vendors who are qualified to handle the type of work being performed on your property.

IN-HOUSE LAWYER / ACCOUNTANTS 

  • Prepare leases, riders etc. for the apartment
  • Answer real estate questions relevant to the apartment

You’ll have the peace of mind knowing that your investments are being managed in a professional and efficient manner. We know what it takes to create a successful experience for you and we’re confident that our expertise can eliminate the hassles that may arise.

CONTACT US to discuss the management of your property.

We are on-call 24 hours a day, seven days a week, 365 days a year.

BUDALET – YOUR DREAM HOME A CLICKY AWAY!

PROPERTY MAINTENANCE

Furnishing services Budapest

FURNISHING SERVICES

COMPLETE FURNISHING SOLUTIONS!

Budalet accounting services

ACCOUNTING SERVICES

In general, if you have any property, income or business share in Hungary, it is obligatory to have a HU tax id number. If you are the sole owner, you must have the necessary HU tax documents. If there are co-owners (family member, business partner, etc.) all other owner must have minimum HU tax id nr, that is the law. If you rent out the apartment, one of you must have a so called business tax number (it is different than the tax id) that gives only the right to issue invoices, etc.

Something about the taxation itself.

The accountant use the cost deduction method, so he takes into consideration all money from rent and deduct all possible (and legal) expenses. Cost may be: managing, cleaning, repairing, commission (of finding a tenant), or even travelling (if you come to check your apartment 1-2 times a year), accountant fee, hotel (but no drink and no food).

Accountant use the depreciation – 2% of the value of the buying price of the apartment (that is why purchase contract is needed).

The personal income tax system is annual and based on the calendar year, no loss or profit could be passed to another year.

All deductible costs must be based on proper invoice (not just a receipt).

Fees:

– HU tax id nr: 50€/person (to be paid once)

– HU business tax number: 50€/person (to be paid once)

– Personal income tax return: 150€ (annual fee) /1 apartment, 250€/2 aptms, 350€/3 aptms.

– Invoicing: 10€/invoice

– Building tax return: 50€/person/apartment/year (in some district – e.g. in the 6. district) the property owner must pay property tax (it is called building tax) – that is annually.

For more information contact us anytime.

legal advice budapest

LEGAL SERVICES

Speak to an attorney and get legal advice on property matters of purchase/lease, taxation, legal disputes etc.

What solicitors offer you often sounds very similar; we think it’s the delivery of our services that sets us apart.

We know that the range of issues we deal with every day is more than that to you; it is life, work, relationships and sometimes stressful change. Our expertise across a whole range of sectors means we can guide you through your legal process, whatever it is, with all the support you need, for the outcome you want.

Whether you want advice on a business or personal, family matter; we will work with you to understand your situation, assess your needs and help you find a suitable resolution.

Marketing services Budapest

MARKETING SERVICES

Our marketing expertise work quickly to get the right renter/buyer for your home. We advertise using a number of proven methods to connect with a wide audience.

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