There are many reasons why Central Management is your number one choice for property management Budapest, Hungary. We have a combined experience of 40+ years in the Hungarian Real Estate market. We literally have helped hundreds of homeowners that thought there was no hope after their home did not rent or sell.
Not only do we have the expertise to get lease rates at the ceiling of the market, we provide Un-Matched advertising for each client ensuring the fastest turnaround time to get your house rented, and for top dollar. We advertise your home for rent on all major top real estate websites, work with other agents and real estate companies, and we provide high resolution pictures of your house to get the most income possible for your property.
It depends on the home condition, how much you want in rent, and what the local market will support. However, through our Un-Matched advertising, we provide quality tenants in 35 days on average, but it can be a matter of weeks, or even days. If we have a good product (your house) we can move it faster and for lower cost than any other property management company or brokerage in the city.
Since we specialize in Budapest properties we have our finger on the pulse of the market. Between using our own in-house private data, driving the neighborhood, and previous properties that rented in the area, and the specs/condition of your house, we formulate a rental rate that will attract quality tenants in 30 days with a full deposit.
No keys will be given out! Unlike other management companies that give tenants the keys, your property will only be shown to pre-qualified tenants by one of our professional leasing agents who has access and of course in-depth knowledge about your home.
Once the prospective tenant says; “I want to rent this apartment,” we will do our best to collect recommendations, run a credit report, conduct back ground check, review employment history, rental history, etc . Upon that recommendation, we enlighten you with our findings, to help you make the final decision on your new tenants.
Tenants know that rents are due on or before the 1st of each and every month. The income is collected and posted to your account. Owners receive a detailed summary report, generated and mailed on the 23-25th of the month along with their proceed. Unless instructed otherwise.
We have an in house maintenance division and specialized vendors that are qualified to handle any issue that may arise with the home. We do not markup parts like other companies so you receive the best work at the best price, if any issues occur. For even more control we set up a monthly maintenance charge which includes all normal wear and tear and typical daily maintenances (see list attached). In addition we offer a home warranty through Generali Insurance Company.
There is always a risk that your tenant will not treat your home as well as you would. In general, though, damages past normal wear & tear are the exception.
In general there is not a market for un-furnished rentals right now.
No. Make sure to leave the utilities in your name until transferring over to the new tenant when they move in. If you cancel, there is a risk of damage during cold weather (e.g. plumbing, appliances, sump pumps) and it’s a lot more work getting them turned back on as a “new” service under the tenants name.
Yes, you should maintain a landlord policy on the property. The tenants can’t carry homeowners insurance since they don’t own the house, but we mandate all tenants to carry renters insurance for their personal belongings. It’s always a good idea to contact your insurance agent and let them know you’re renting the house and make sure you are protected.
Today! It’s never a good thing to wait until the last minute, especially in today’s economy. It’s a perfect time to start lining up prospective tenants.
Unfortunately there are many agents and brokerages that have ZERO property management experience and definitely not specializing in the rental market of Budapest. A word of caution: they might not be licensed to manage properties.
Central Management kft has competitive rates and very comprehensive service in the city. For covering the initial evaluation, pictures, video, professional ad, distribution of that ad to over 40 top targeted websites, showings, tenant pre-screening, and document preparation we charge a one-time handling fee of €200, our rental commission is equal to the first month’s rent. Most other property management co.’s and brokerages charge upwards of 10-12% of the monthly rent, every month! Our monthly management fee is only collected if your property is rented. Until then we don’t charge a thing!
Besides the one-time handling fee of €200, We ask owners to fund a €300 reserve account for any recurring or anticipated expenses associated with your home (e.g. hot water heater goes out, plumbing issues, etc.).
We have an exclusive Hybrid Real Estate System where we can simultaneously market your home for rent, land contract, sale, or any other terms that are suitable to you that will provide the fastest possible solution in your current real estate market. Call us for more details.
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