Frequently Asked Questions

In this part of the page we provide answers to the most frequently asked questions by our future clients.  

 

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Apartment management - short-term and mid-term rentals

How is your commission calculated and what does it include?

The commission varies between 15% (for stays over 3 months) and 18% (for stays under 30 days).  Depending on the type of management, VAT can be charged on it.

The commission includes:

  • Advertising and marketing on short-term rental platforms;

  • Dynamic pricing and employment management;

  • Reservation processing;

  • Communication with tenants before, during and after the stay;

  • Providing tenants with access to the property through a method of self-accommodation;

  • Organization of cleaning the property, washing bed linen and towels, refilling with cosmetics;

  • Organization of activities related to property maintenance and repair activities;

The commission does not include:

  • Commissions on short-term rental platforms;

  • One-time cleaning fee for each stay. The fee is paid by the guests and is not part of the net income of the property;

  • Rental of bed linen and towels

  • Maintenance and repair costs;

What are the two types of management and which type to choose?
  • Option 1: a management contract in which we operate on your behalf and at your expense. Choose this option if you are insured at the maximum threshold in Bulgaria or the property is owned by a legal entity.

  • Option 2: a lease agreement by which we sublet the property on our behalf and at our expense. Choose this option if you live abroad or if you do not insure yourself at the maximum threshold in Bulgaria.

Important: Our team will advise you which option would optimize your costs. We recommend that you consult with us , as the legal framework is complex. 

What are the initial costs?

The initial fee is between BGN 350 and BGN 450 with VAT and includes:

  • Capture by a professional photographer (photos become your property)

  • Self-accommodation method - purchase and installation

  • Rental of bed linen and towels for 1 year

  • Initial standard cleaning

What will be my responsibilities?

The only obligation of our customers to us is to regularly pay utility bills for heating, water, electricity, internet and cable TV.

Is my property suitable for short and / or medium term  rent?

Yes, if the property is:

  • Located in the ideal city center, within walking distance of at least one of the main tourist attractions, to the beach if the property is in a coastal town or in a convenient location near the ski lifts in winter resorts.

  • Last renovated no more than 5 years ago

  • Fully furnished and equipped

In the case of medium-term rents, the properties can also be close to areas with business buildings, but it is obligatory for them to be modernly furnished and to have a work area. 

Can I rent out my property only for medium-term rentals?

Yes. We recommend a combination with short-term rentals, as this would optimize employment, but the decision is yours. 

How should I equip the property?

You will find a complete list of the necessary equipment in our brochure. 

How will I monitor employment and income?

At the start you get access to our customer portal, through which you can monitor when the property is rented and on what terms.

When and how do I receive my rental income and pay your commission?

You receive all income by bank transfer on the 15th of the following month. The amounts you receive are net - net profit after taxes.

How do you take care of the security of my property?

Short-term rental platforms allow for a different type of control over tenants - reviewing estimates from previous stays, requiring an identity document and more. In case of doubt that the guests intend to use the property for any activities that are contrary to the rules of use, we cancel or terminate the stay.

Do you offer a fixed monthly rent?

No.

Can you repair / furnish my property?

We work with reliable partners who could perform these activities for you. Contact us for more information. 

Can you accommodate short-term guests in person?

Our experience shows that tenants appreciate the opportunity to stay whenever they want, without the need to make an appointment with anyone. This preference has intensified in the context of the pandemic and personal contact is no longer preferred.

 

However, some clients insist on personal accommodation; for this purpose we have provided a team of  smiling young people with perfect English.

 

The price of personal accommodation is BGN 30 with VAT for each stay and is paid by the owner.

 
 

Apartment management - long-term rentals

How is your commission calculated and what does it include? 

Our commission is 60 euros with VAT per month.

The commission includes:

  • Initial inspection and inventory of the apartment;

  • Preparation of all documents when finding a tenant (or replacement of existing ones);

  • Monthly visit to the apartment to check its condition;

  • Check for unpaid overheads; 

  • Collection and payment of rent (we assume the risk of possible delay in payment);

  • Communication with tenants throughout the rental; 

  • Providing repair technicians and minor repairs; 

  • 24/7 telephone line in Bulgarian and English for emergencies;

  • Concierge service for tenants - they can order regular or basic cleaning and laundry of clothes, bed linen and furniture, receive discounts for activities, excursions and restaurants;

The commission does not include:

  • Costs for maintenance, repairs and refreshments - they are at the expense of the tenant or landlord, depending on the nature of the problem;  

Do I need to have a tenant to take advantage of your services?

No. We can also find a tenant for the lowest commission on the market - 48% of the first monthly rent. See more here. 

Do I pay a management fee when there is no tenant in the property? 

No. You pay only when the property is rented. 

Is there a prepayment discount?

No. 

Do you work with real estate agencies?

Yes, with all, on the same terms.

 

Management of guest houses and villas

How is your commission calculated and what does it include? 

Our commission is 10% including VAT on the income of each reservation provided by us.  

The commission includes:

  • Creating profiles in online platforms

  • Marketing, SEO, pricing according to customer requirements;

  • Processing of reservations and synchronization of calendars in different channels;

  • Communication with guests, virtual concierge and digital guide;

  • 24/7 telephone line in Bulgarian and English for emergencies;

I already have an account in some online platforms, can I take advantage of your services?

Yes, but our experience shows that in order to be able to do our job effectively, we need to manage all online accounts. 

Can you manage the house completely? 

It depends on where it is. Contact us and let's discuss the options. 

 

Investments

I want to buy an investment property, but I will manage it myself. Is it possible?

Yes. The first consultation is free and non-binding. If you subsequently wish us to continue assisting you with the investment, you pay a deposit of BGN 500, which is refunded if you decide to entrust the management of the property to us. 

Do you guarantee a return?

In some cases, we could guarantee a return, but this depends on the property and often makes the deal more expensive. Our consultants can provide you with more information in case of specific interest in a property

Rentals

 
How much is your commission and what does it include?

Our commission is 40% without VAT (48% with VAT) of the amount of one month's rent. It includes:

  • Professional photography of the property

  • Detailed description of the property

  • Advertising on the leading real estate platforms and social networks

  • Organizing tours (and conducting them when choosing an exclusive)

  • Preparation of a lease agreement and handover protocol

Do you take a commission from the tenants? 

No, our service is completely free for tenants. 

Will I have a broker?

No. Flat Manager is a team and we all work for you.

Are there different options? Can I also use real estate agencies? 

There are two options we can work on for you. The commission is the same for both options.  

Option 1: You carry out the viewings of the property yourself. We take care of the organization of the viewings, but our representative is not present at the appointed day and time. In this option you can use the services of real estate agencies and brokers.  

Option 2: We carry out viewings of the property. You provide us with keys and provide us with access so that we can carry out viewings at any time. In this case, there is an exclusivity clause in our contract and for a period of 6 weeks only Flat Manager can represent the property.

I live abroad / I don't care. Can I give you the keys and receive money in my account every month without doing anything? 

Yes! We will find a tenant and manage the apartment. Start here

Do you work with brokers and real estate agencies? 

Yes. Flat Manager works with all real estate agencies under the same conditions. We do not charge commissions from tenants and buyers and do not share our commission from landlords and sellers. All our current ads are published on the website flats.bg, where you can find the possible days and hours for organizing a viewing. If your client is interested in a property offered by us, please send us a link to the property listing by email broker@flatmanager.bg and your preferred day and time for viewing. We remind you that the photos, videos and all information about the properties we offer are the property of Flat Manager and their copying or distribution is prohibited.

 

Sales

How is it possible that your commission is 4 times lower than the market one? 

The answer to this question is in 2 parts.

 

First, there is a problem with the functioning of the market. Brokers and agencies charge a commission to both sides, which makes a deal 6% more expensive. In some cases, this practice is also unfair to one of the parties.  

Secondly, we do not have brokers with whom to share the remuneration. We work as a team and for years we have been performing one of the most difficult activities in the real estate sector - management. Our revenues from this activity allow us to provide a high quality service at the lowest commission on the market of 1.5% without VAT.  

Will I have a broker?

No. Flat Manager is a team and we all work for you.

Are there different options? Can I also use real estate agencies? 

There are two options we can work on for you. The commission is the same for both options.  

Option 1: You carry out the viewings of the property yourself. We take care of the organization of the viewing, but our representative is not present at the appointed day and time. In this option you can use the services of real estate agencies and brokers.  

Option 2: We carry out viewings of the property. You provide us with keys and provide us with access so that we can carry out viewings at any time. In this case, there is an exclusivity clause in our contract and for a period of 6 weeks only Flat Manager can represent the property.

Do you work with brokers and real estate agencies? 

Yes. Flat Manager works with all real estate agencies under the same conditions. We do not charge commissions from tenants and buyers and do not share our commission from landlords and sellers. All our current ads are published on the website flats.bg, where you can find the possible days and hours for organizing a viewing. If your client is interested in a property offered by us, please send us a link to the property listing by email broker@flatmanager.bg and your preferred day and time for viewing. We remind you that the photos, videos and all information about the properties we offer are the property of Flat Manager and their copying or distribution is prohibited.