PROPERTY MANAGEMENT

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BudaLet offer a full range of property management services tailored to you as an investor, homeowner, or landlord. We manage residential properties as well as individual units for investors and absent owners. We offer the most comprehensive and cost effective management solution in the industry for residential property management. Our job is to handle tenants-related issues, paperwork and filings so you do not have to. The BudaLet team has established a higher standard for Budapest property management that is unsurpassed by our competition. We not only anticipate your complete satisfaction; we depend on it.  Investing in the Budapest real estate market is extremely popular today due to the increased return on your investment and the high rents that are paid by your tenants. Although it may seem like a daunting task to own property in Budapest, BudaLet will assist you thought the difficult process of renting, buying, selling and management of your property.

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 most of the hassles that may arise.

WHAT WE DO AS YOUR PROPERTY MANAGER:


  • Fill vacancies
  • Advertise your rental
  • Handle tenant inquiries
  • Application processing
  • Lease signing
  • Full service repair
  • Rent collection
  • Accounting
  • Legal services
  • Handle Tenant excuses
  • Evictions
 

MARKETING & LEASING


  • A “For Rent” sign on your property shortly after notice of pending or known vacancy. When we have received a notice to vacate, we strive to place signs in a timely manner.
  • Placing a description of your property on our vacancy list, which is available free of charge to all who come or call into our leasing department. We will also send these lists upon request. We do NOT charge for this service.
  • 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 45 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 an 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 in advance regarding any expenditure over €150, 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.

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