Landlord Guide FAQs. - How to let an apartment in Budapest

Landlord Guide

    How much will it cost to let my property?

    We have an all-inclusive Managed Long Let package to suit your property needs. There are two main landlord service fees involved in letting (one-off commission) and managing (a percentage of the rental price) your property. Letting fee is placed towards the first month's rent (incl VAT) and Property Management fee will be charged on a monthly basis as 8% of the rent plus VAT upon the tenant signing the Tenancy Agreement. Additional costs may apply such as cleaning, repairs and maintenance in pre-tenancy process.

    Tenancy agreement and deposit protection

    In Hungary it's a legal requirement to provide a written tenancy agreement. In Hungary tenancy deposits are capped at three months’ rent. BPartner's standard deposit amount is two months’ rent plus one month's utility bills. The deposit is payable by the tenant upon successful tenancy agreement signing. If BPartner takes a deposit from tenant, we must hold and protect it because there isn't a Government-approved tenancy deposit protection scheme in Hungary.

    Who settles the utility bills?

    Throughout the tenancy you can manage all your finances through us. Details of bills to be paid for by the tenant will be listed in the tenancy agreement. When rent collection, including utilites and service charge payment, we will need to settle any outstanding utility bills we are responsible for with the provider directly.

    Can I appoint a managing agent if I already have my own tenants?

    Whether you already have an ongoing tenancy, have found tenants or have instructed another agent to do so, we can take on the management of your property. We often assist landlords with the transition of moving from their current management company to our service. Contact us for more details.

    What type of tenants rent through you?

    Most tenants are long-term renters who pay rent on time and look after their accommodation. These tend to be corporate and working professionals who have good budgets and like convenience. Attracting these types of tenant should be your priority.

    What if I need help with the property maintenance?

    The properties we let are also professionally managed by us so you can be sure that if there's a problem, we will respond promptly to resolve any issues. More information can be found in our property services section.

    Should I let my property be furnished or unfurnished?

    There is no straightforward answer to this. Most of the time, the difference in rent between a furnished property and an unfurnished property is fairly negligible. It is your choice whether to let out your property unfurnished or fully furnished (e.g. with carpets, curtains and white goods in the kitchen). Any electrical appliances left should be tested and any soft furnishings left must comply with furniture and fire regulations. In Budapest it is not common for rental property to be let part furnished.

    It’s not a great situation to think about, but what if tenants don’t pay?

    This is generally stated in the tenancy agreement. Thanks to fully managed service, we will chase all late and unpaid rent plus utility bills, under terms set out in the tenancy agreement - It's worthwhile checking the Tenancy Agreement details. The property management agreement includes One month's rent guaranteed with Utility arrears repayment agreement. It’s one of the key motivations that landlords opt for our property management service as it minimises both the hassle and risk involved in letting out a property. Terms and conditions apply.

    How long does it take to receive my rent?

    Rent is sent monthly in arrears on the 20th of every month.

    Can I increase the rent?

    It is your property; it is, therefore, your choice who lives there. Sometimes this may not be the person offering the highest rent. At the end of the tenancy we will help you work out what the best course of action is for you. Should you choose to renew the contact, we'll help negotiate any rent increases with your tenants and ensure that both you and your existing tenants are happy.

    Still have a question?

    We also believe in plain-speaking, helping you make informed decisions with no last minute surprises.