The Property Letting Guide
Property letting means secured profit. In order to prove this rule however, you need to know in detail the peculiarities of the tenant search process and the specific character of the property letting & renting relations. The consultants at MIRELA Real Estate Agency will help you with professional advice about property management.
Here are the major steps if you have decided to let a real estate:
1) Choose you property management consultant carefully
It is hardly necessary to persuade you how vital the role of professionalism and experience is when practicing real estate services consultancy.
When you choose a real estate agent always follow these basic rules:
- Study the possibilities of the real estate agency in advance. For this purpose we suggest that you go through the widely available specialized sources of information on buying, selling, letting, renting of property- newspapers, magazines, the Internet. The way a real estate company offers and presents the properties to let is of considerable importance for the success of a property deal.
- Gather information from your relatives and friends about the real estate agent that you intend to address when you want to let a property.
- In any case visit the real estate agent's office that you intend to hire to let your home.
- Require a meeting with a real estate broker or consultant in order to explain the main characteristics of the property you are letting and ask all the questions you have. During this meeting, you will get a preliminary impression about the style and methods of the chosen real estate agency.
- Rely only on a company with long-lasting experience, good reputation, big possibilities and possessing a team of agents specialized in property letting.
2) Conclude a written contract of consultancy and agency with the chosen real estate company
This contract must regulate all rights and obligations of the real estate agent, the amount of the remuneration payable for their services, as well as the terms and conditions of payment. When concluding a contract, always ask all the questions that are of interest to you and consult a lawyer if necessary.
The remuneration payable for our service by the compnay's clients is 100% (VAT excluded) off the negotiated monthly rent- it is payable once. If you empower us with exclusive rights over letting your property, then the remunaration is reduced to 50% (VAT excluded).
If you trust the Rental Department of MIRELA Real Estate Agency, you can expect from our employees and experts full professional collaboration and support in the following major moments of the real estate letting process
3) Preliminary property viewing
Upon request on your side and at a time convenient for you, a consultant of our Rentals Department will visit the property and consult you on all the questions regarding necessary renovation, finishes, interior design concept and furnishing. This must be done to your benefit with the aim to find suitable tenants on the most profitable terms.
4) Consult regarding rental price
Our real estate consultants will offer you a well founded concept about the way to form a rental price. The rent is normally determined by a number of factors, which cannot be ignored, if you want to assure your peace of mind and permanent income for as long as possible.
5) Viewing the property with potential tenants
Arranging and conducting property views is an essential part of the work of the real estate agency, and that is why the professional conduct and the excellent customer care skills of MIRELA's employees will surely help you achieve success in a property letting deal. In a number of cases, it is important to receive information about the potential tenants in advance, even before the view and this is where MIRELA comes to your assistance.
6) Conclude a property letting contract
When concluding a property letting contract you should negotiate all terms which are considered of some importance for both of the parties, in which you can confidently rely on the management of MIRELA Real Estate Agency. We will offer you a concise but exhaustive letting agreement. According to the regulations related to real estate property deals in Bulgaria, verification of the contract by a notary is not a mandatory requirement for it to enter into force, the legal relations between the parties are in effect upon signing of the written contract. An indispensable part of the contract is the taking-over certificate which details the condition of the property and all the belongings in it.
Consultancy and agency fees
All clients of MIRELA Real Estate Agency have the option to pay the agreed remuneration in cash or by a bank transfer on an account specified by the company. If you choose the first option, you could do it in the Rentals of Residential, Office and Commercial Properties Department at 1A Vassil Levski Str., Sofia, and receive a document certifying the payment.
Important! All clients of our Rentals Dept. get a 10% discount of the remuneration due for each subsequent deal after the first one - a nice opportunity to be of service to you again!
