Property Management

Great! You have finally decided to invest in a buy-to-let property overseas. You heard that Bulgaria is the hotspot for the past few years with best return on investment and lowest prices of properties in whole European Union. You bump into one of the thousand real estate agents in Bulgaria and purchase an apartment or villa on the Black sea coast or right next to the ski tracks in Bansko . So far so good but what’s next?

Ideally the property developer would offer management packages or rental guarantee. But in case he doesn’t you have a huge variety of property management companies to choose from. Those companies make your investment work for you providing you significant rental returns. The types of packages and prices offered are quite similar and the differences in prices are insignificant.

The most popular is the combined rental and management servicefor landlords who do not wish to be involved in the day to day running of their property, or who are based overseas. They will make sure to keep your investment in excellent condition and take care of the complete tenancy from start to finish.
Full property management services take the stress out of residential letting and you just sit and enjoy the monthly check from your Bulgarian property . In most cases you would pay a fixed annual payment for the maintenance plus commission from the rent.

Another popular service is the rental only. This option is dedicated to property owners who already have organized their property maintenance and cleaning and require help with finding tenants. The Property Management companies will market your property on the local and international market through the means of tour operators, travel agents, magazines and other websites. If they find a tenant they receive a commission.

The third option is maintenance only. This will cover cleaning and laundry. If you visit your property for a few weeks once a year, you would rather sit and enjoy your vacation than rushing into cleaning and washing. This option ensures that your property is in perfect condition all year round. The fee here is calculated by the area of your property.

Apart from these services you can also take advantage of accountings, payment of bills, welcome packs, gardening etc.

Experience shows that rental income for apartments in Bulgaria varies from 4 to 6% of the property price. Of course you should exclude profit tax and maintenance and management fees. After all you have a regular monthly income and a property overseas to visit from time to time.