A new business is flourishing on the Budapest housing market - the business of entrepreneurs who buy apartments for investment. But for them, external assistance is getting more and more important; therefore more and more people choose to hire professionals in managing their properties.
In the past year, the number of properties purchased for investment has risen by thousands, as 40-45 percent of homebuyers are buying for investment. It is also relatively frequent that an entrepreneur becomes the owner of more than four apartments at the same time. It is interesting, however, that most of these homeowners use mixed portfolio, which means they have new and used homes as well but it definitely shows that property management is an uprising market again.
First, when the Airbnb was launched in Budapest, the number of entrepreneurs buying for investment began to increase. However, these were only short-term rentals, so it was not worth to apply a professional property manager. In the case of long-term housing expenditures, the incoming rent is on average around 100 thousand forints, which makes it easier to manage a handling fee of between 8 and 12 percent of the monthly rental fee.
It is worth to Consider Hiring a Property ManagerProperty managers take on the burden of the owners, such as finding potential tenants, collecting rental fees or handling legal issues arising from non-payment, arranging maintenance and cleaning jobs, and so on. For 4-5 apartments, these tasks can cause significant difficulties for the owner, so it is worth investing not only in properties but also in professional help managing them by hiring a flat management company.
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