Property Services
Property Management
Our firm manages over 100 top quality rental apartments for both foreign and domestic owners in central Budapest. While a number of these apartments have been refurbished and decorated by our in-house design teams, our experience as Budapest’s premier residential development firm allows us to help other owners ensure that their properties are maintained at the highest level possible.
We follow a set of strict criteria when taking on new properties, most of which are in Budapest’s District V, VI and I. As a result, we can offer our management clients a superior, 24-hour on-call service package, which includes the following:
- Securing top-level tenants for apartment(s) mainly through relocation agents
- Negotiating and reviewing lease contracts on behalf of the owner
- Preparing rental contracts where necessary
- Organize rental and utility recharge invoices on behalf of owners
- Arrange inventory and managing tenant handovers
- Collection and forwarding of rental income
- Handling security deposit refunds
- Preparing quarterly owner’s statements
- Represent owner at condominium meetings and at public utility offices
- Monitoring utility meters and invoices
- Ensuring payment of relevant taxes, fees and duties
- Securing and managing insurance coverage and handling any necessary claims
- Promptly handle any maintenance issues, including annual heating/cooling system checks
- Monitoring and scheduling maintenance issues carried out under warranty
- Providing a 24-hour on-call service for both tenants and owners
- Arranging cleaning facilities required by tenant or owner
Catherine Dickens Properties monthly management fee is based on 12% of the net monthly rental income before tax. Should the apartment be empty, a €35 flat rate will be applied.
Real estate agents commonly charge a tenant finding fee of 12% of the annual rental income (pro-rated if less than 12 months). Catherine Dickens Properties, charges a tenant finding fee of 10%, if a tenant is found directly through our offices. There is no tenant finding fee to be charged if a tenant extends his or her lease agreement beyond 12 months.
Extra services available upon request:
- Obtaining a personal tax ID number and income tax number: €200
- Bookkeeping services : €15/month
- Cleaning services: €8/hour
- Furniture purchase or entire fit out: 20% arrangement fee of net cost.
- Yearly Hungarian tax report: € 100 (individuals only).
All rates and prices are subject to 25% VAT.
Please note:
- A 18,288% withhold tax on rental income is applicable for all individual owned apartments. If the owner is a Hungarian National there is a further 14% tax, equaling 32,28%.
- Company owned apartments are subject to an annual property council tax, which can be paid bi-annually. Please refer to your accountant regarding this tax.