PROPERTY MANAGEMENT AND RENTALS IN BUDAPEST

You’re an international property investor – you want to protect your investment – you need to know it’s being looked after properly and you’re getting the best possible return.

We live in difficult and challenging times - all the more reason to make sure you are in the safest possible hands.

With business practices which meet the most rigorous of western European standards QED Property pride themselves on delivering a round-the-clock first class property management service to property owners in Budapest.

Accurate accounting, on-time payments to owners, clear and decipherable monthly reports, direct answers to questions, people before profit, transparency, reasonable fees, long-term relationships, a company you can trust. These are our goals.

Our existing clients have diverse backgrounds and nationalities. It’s one of the things which helps make our job more interesting. What unites them is their belief in the future of Budapest. We share that belief.

Put simply, your success is our success.

A brief summary of our property management fees are as follows:

1. Takeover of management of property fee: €60 + VAT per property. This fee covers the following:

(i) collecting official documentation relating to property (previous electricity, gas and water bills, details of common representative) from previous management company or previous owner.
(ii) visual inspection of property including reading utility meters and then going to utility companies to find out balance and to transfer billing address so utility bills for property are sent to our office address (gas, water, electricity, Internet and common cost).
(iii) checking inventory (if necessary) and taking possession of all keys from previous management company or owner.
(iv) introducing ourselves to current renters, signing and preparing new rental contract with current renters and finding out if there are any problems needing to be dealt with.
(v) changing at least one lock on front door of property for basic security reasons.

(vi) preparation of management contract and power of attorney document so we have authorization from you to represent you officially.
(vii) liaise with your accountant - to check your current position as regards to any outstanding payments or problems.
(viii) any other administrative duty or requirement which arises from the takeover of management.


2. Monthly management fee (while rented): 10% + VAT of monthly rental income received by you. The monthly management fee includes collecting rent and utility bills, depositing the rent in your bank account, paying utility fees for your property, sending monthly management report, dealing with maintenance problems.

3. Monthly management fee (while not rented): NO FEE - this gives us the best incentive to get your apt rented for you as an empty apartment doesn't earn us anything just as it doesn't for you either. Even though we charge no fee we still go to your property at least once a month and check post and make sure utility bills and common cost are paid up to date. Please note: if we are showing your property to potential renters in reality we are visiting your property more than once a month.

4. Finder's fee - for introducing new renters: 10% + VAT of total rental income for the duration of the rental contract. This is to say if your property is rented for one year at €500 - then your total annual income is €6,000 (12 months x €500) - so we would receive €600 plus VAT as the finder's fee.

This fee includes advertising and showing your property, negotiating rental contract, preparation and signing of rental contract, collecting two month security deposit, checking-in renters including handing over keys and checking-out the renters including taking back keys at end of contract.

Please note: in case renters stay on in property for more than one year no additional finder’s fee is charged – it is your bonus.

5. Maintenance costs – the fees largely depend on the work involved - we use a number of different professionals who help us to fix boilers, blocked sinks, baths and WCs, leaks, windows, doors, furniture, heating, change locks, painting, blinds – anything and everything. We do not overcharge for maintenance work. Typically the call out charge from our handyman would be 5,000 Ft + VAT and this would cover one hour's work in the property.

6. There are no other fees and no other hidden charges or costs not mentioned.

This is a brief summary - if we have missed anything please let us know. Send us a message and we’ll get right back to you! Or call or Skype us and we’ll be happy to answer your questions.

SELLING PROPERTY IN BUDAPEST

QED Property’s core business is property management and rentals. Inevitably however, dealing with multiple property owners the question of selling comes up from time to time.

With this in mind, we offer a service to property owners wishing to sell – you’ll be pleased to learn our fee for helping you sell is half of what most other selling agencies in Budapest charge.

Most selling agents make large commissions for selling your property in Budapest. The sales commission for selling a property charged by some companies in Budapest is as much as 5% + VAT of the sales price.

With the stakes high, it can lead some agents to be less than scrupulous when being truthful with you or in terms of getting you the best possible price - choosing to put their commission before your best interest.

If you’re looking to sell right now it may be because you have little or no other choice. The buyer’s market puts sellers on the back foot – reluctant to accept an offer but wanting out of the market. All the more reason to make sure you’re working with the right company.

QED Property’s success fee for selling your property is 3.0% + VAT of the sales price. Included in this fee is marketing and advertising your property on our own website and other websites including the popular www.realestatehungary.hu , showing your property to interested parties, negotiating sales price, attending contract signing, ensuring you receive payment from buyer and handing over keys and preparation of final utility documents as part of handover process.

If you’re a property owner already with us you’ll know how we work so you can rest assured we’ll do a first class job. If you’re new to us remember our selling fee is based on us actually selling your property – so if we aren’t successful you don’t pay us anything.

Below is a selection of properties currently for sale: