These are the most frequent asked questions by landlords in Budapest. If you have a question that is not answered here, do not hesitate to contact us. We’ll be glad to help you.
I have been renting my property throughout a different managing agency and I am no longer satisfied with its services, what can I do?
It is a common situation. The main reasons why this happens in Budapest are mainly the following:
- Lack of proper communication with the current administrator
- Excessive costs, due to unnecessary spending
- Lack of professionalism, leading to defaults or non-payments
- Contingencies for lack of periodic control
Should you be weighing changing your managing agency in Budapest, the first step would be considering all of the different options available and getting in touch with those who you think will provide a better service in order to know further about their business.
We can have the first meeting, both face to face or by phone call, though the former is preferred. Later, your specific situation will be looked into, and the apartment will be viewed in order to understand the possible opportunities.
Once and if you decide to get to business with us, the first task in order is to do an accounts auditing, this way we will be able to mark a starting point and estimate how the next steps should be taken. There are many outcomes from this: work on how to get the accounts up-to-date, decide on tenant evictions -if needed-, work on keeping the rental relationship with a tenant, or look for a new renter for your property.
– What rent should I charge?
Of course, you want to make a decent income from your property, but setting your rent too high can put tenants off – especially if they have lots of properties to choose from. Even just €25 a month extra can deter them so it’s essential to charge an appropriate rent for them, which still gives you a good return:
- Location. Where your property is based can have a big impact on rent.
- Furnished or unfurnished? Are you including full furnishings and appliances, part furnished or completely unfurnished?
- Desired tenants. Who are you trying to attract?
- Amenities. Universities, parking availability, parks and shopping and recreational facilities all need to be taken into consideration.
- Desirability. You need to factor in the condition, size and accessibility of your property when setting rent.
To give you an idea of what other landlords are doing in your area, please get in touch with our rental department. We’ll give you up-to-date market information.
How long would it take for my apartment to be rented out?
As well as the factors mentioned above, it is paramount to keep in consideration that the state of the apartment and the season in which we are in are key. Combining all aspects with a reasonable market price, we can ensure that the property will be likely rented in several weeks. Our occupation ratio is close to 100%.
– How much will it cost me to rent my property through danubioHomes?
The costs involved in letting your property with us consist of:
1. Tenant search. For this task, there are fix charges of one monthly rent for long-term contracts (one year or longer). Should the tenant decide to renovate the contract afterwards, it will be free of charges.
2. Property management. This category englobes matters such as custody, estimation of utilities, revision of meters, rental payments, settlement notification to landlords, representation at community summits, everpresent tenant support, and flat maintenance. The cost is a fixed percentage of the rent, monthly.
3. Further operations.
It is important to know that, once a relationship with a new client is established, there are no fees following the throughout report of the accounts, and neither for completing the inventory and photography report for further advertising.
However, there are other tasks for which some landlords rely on us, such as the compulsory Energy Performance Certificate or the acclimatization of the apartment.
For the aforementioned and any other concerns, please do not hesitate to contact us.
– Are there any additional marketing costs?
There are no additional costs. danubioHomes includes all marketing expenses within our “tenant search fee”.
– Who will conduct viewings of my property and when will they occur?
danubioHomes accompany all viewings during our opening hours. In accordance with the law, we give 24 hours’ notice to any tenant before we visit your property. (See tips for landlords)
– Do I need to be present for viewings?
You will not if danubioHomes has the access codes and keys for your property then your presence is not required.
– How much is the tenant’s deposit in Hungary and what happens to it?
Typically in Hungary, this is 2 – 3 month´s rent and is payable upon the signing of the Tenancy Agreement.
– How long does it take to receive my rent in Budapest once paid by the tenant?
For a long rent, you will receive your rent by standing order.