The ups & downs of our Property Management Service

Romania Property Management
We provide a full range of property management services in Romania (Bucharest, Brasov & Bran primarily). The management of a foreign property can be a real hassle and headache for landlords – a good property management agent is essential, especially in Romania.

Despite the large number of investors who have bought property in Romania over the last few years there are very few true property management companies and even fewer good ones, because it is not a get rich quick business. Property Management can require considerable hands on attention that can destroy a planned week. Once a tenant has a problem, it is critical not to alienate them by ignoring their concerns – an costly error, yet the income from such service is very small. Example, the income of 30 or 40 euros, pre tax, may not cover the many hours that can be required to execute the task. For this reason, anyone that offers Property Management should be fully validated by talking to existing clients.
The worst thing you can do is pay for PM, & not get it. I myself pay for it on a UK property I own, & every month, I pull my hair out at the lack of replies to emails, or simple owner questions. Its one thing not having PM, it is another to pay for it & still not have it!

Property Management is the most essential aspect of investing in property, after buying the property & finding a tenant, especially in a fragmented property market such as Romania. It is the only way you can 1/ ensure you receive your rent, 2/ that the property is looked after & 3/ that the tenants needs are met, keeping them satisfied.

Absence of a presence in Romania to support your property, will almost definitely result on one or more of those 3

We provide a full or partial Romanian property management service for landlords in Bucharest, Brasov & Cluj. We charge a flat rate of 10% of the rent per month typically for the most common service, rising to 20% for very intensive Property Management for our Romanian property management service. Our Romanian property management service brings western levels of service to the Romanian property market and ensures all the details of your Romanian property are looked after.

In Romania, like in other parts of Central & Eastern Europe, we operate a “hands-off” property management service. In fact it is true to say, many of our clients neither stay in regular contact with us, nor even respond to minor contact requests from us. On one hand, this is a little frustrating. On the other, it is compliment indeed & testimony to the fact that most owners play absolutely no useful role in the sooth running of their property. We keep the properties rented as best we can, collect the rent, keep an eye, conduct any repairs or upgrades at local prices. In effect, what else is there to do for the owner? Our Romanian property management service integrates seamlessly into our maintenance & renovation teams to provide a full service from a single provider. So, whether the property needs a new coat of pain, a shower fitting, roof tiles, or a replacement oven, we have all the resources we need to cover all eventualities.

Our “Hands-off” Property Management Service – how it works:

Our “Hands-off” property management service is designed so that, after the initial setup of the service is done, an Investor/ Owner should need to do very little apart from read their property management report and collect our regular payments.
We look after all the property management details, for example:

  • tenant finding & rental contracts
  • handover protocol to ensure tenant has keys, pays rent correctly, records utility meter readings, inventory
  • management of the property
  • maintenance of the property
  • 24/7 service for tenants and essential maintenance
  • 24/7 service for landlords to property details
  • Mobile & skype phone number and English speaking Property Manager
  • communication available in multiple languages: English, Romanian, Hungarian, Spanish, & French
  • hold keys and property documentation
  • free mail collection and processing
  • cleaning on request
  • welcome packs for tenants on request
  • rent collection
  • rental deposit arbitration
  • act as first point of contact for the tenant
  • follow up tenants for any unpaid rent
  • regular property inspections
  • organise property insurance
  • organise energy performance certificates
  • keep track and account for all payments and bills related to the property
  • open a local bank account (if required)
  • pay annual property taxes on behalf of the investor
  • pay any other local taxes (such as council tax, garbage tax etc) where relevant
  • accountancy: ensure any local operations are performed through a qualified accountant
  • we pay all required bills (eg service charges, water, electricity, gas & maintenance) making your end of year accounting much easier.

The only thing the Investor/ owner should need to do is watch the money come into their bank account every month.
In essence, our property management service does everything for the investor related to running the property.

Contact us for more information about our Romanian property management service.

Completion, Kitchens & Furnishing

We provide a full Romanian property management service for investors/ owners to get your Romanian property working as fast as possible:

1. Completion Service: completion of pre & post purchase process smoothly and efficiently
– Notary representation, sale/ banking activity, snagging, handover, utility bill transfer, tax registration, service charges & insurance
2. Fit-out: where some Romanian properties are sold in an unfinished state, we provide a full or partial fit-out service to finish your property with tiles, paint, doors etc
3. Kitchens:full kitchen design & installation
– kitchens competitively priced, designed and tailored to the property and your budget
4. Furniture: essential furnishings (lights, blinds, washing machine), through to complete furnishings (for a fully furnished property). Furniture & appliances is competitively priced, designed and tailored the property and your budget

We have an in-house interior designer who will advise you and ensure your properties are equipped to the appropriate level for the Bucharest & Brasov Romanian rental and resale market. Many of our previous projects are shown on youtube.com so you can check our standards before proceeding.

Read more about our completion, kitchen & furnishing services or contact us for a no obligation quote.

Romania Rentals

The rental market is very new and fragmented in Romania as such it is very difficult for investors to get their Romanian properties rented – this where we come in.

We provide a proactive and full Romanian letting service for landlords in Bucharest & Brasov. We charge a lettings fee of one month’s rent.

Our very own Romanian real estate agency facilitates all of our rentals.

Contact us for more information about our rental program in Romania (Bucharest & Brasov).

Romania Resales

We have an active and very successful Romania resale service to help investors sell their properties in Bucharest, Brasov & Braon.

We also source already tenanted investment property in Romania for those investors who want a low hassle property investment that is already up and running and generating cashflow.

Contact us to find out more about our resale services.

Our Romania Property Management Fees

  • Renting: Half one month’s rent + VAT
  • Property management: 10% for basic (most popular), rising up to 20% for intensive (rarely required)

Our Romania Property Management Locations

 

We provide full Romanian property management services in numerous locations but our strongest coverage of support primarily in Bucharest, Brasov & Bran.

 

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