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Property Management in Bulgaria
WELCOME
Bulgarian View Ltd provides a complete management service to the owners of holiday properties in Bulgaria.
Our main goal is to provide our clients with an excellent level of service. Our Bulgarian property management services included all of the essential services required to ensure that your property remains in peak condition. We offer to our clients short and long term rental opportunities of their Bulgarian properties.
Main Services:
Management and Letting of properties in Bulgaria
Charge: 450 ˆ per year
Bulgarian View Ltd offers a comprehensive service to owners of holiday homes in Bulgaria.
It includes everything that is needed to maintain and to let out your property, from key handling, paying the utility bills and annual local tax, advertising and placing tenants for short or long term rental, communication with other intermediates (ie tour operators and travel agents) to assisting the tenant/tourist fully during their stay.
We have, on-hand a strong team of trained professional cleaners and technicians, who will assist in the maintenance and upkeep of your property, ensuring your property is clean, fresh and the beds made up, thorough airing of the rooms, laundering of towels and bed linen and maintenance or repairs if so required. The Bulgarian View team can also meet guests at the airports by providing our own shuttle bus or can arrange car hire throug reputable Bulgarian car hire companies.
We have teamed up with some of the leading local and international tour operators and travel agents promoting Bulgarian tourism, which guarantees the highest possible occupancy of the properties which we manage, giving you a good return on your investment.
We pay fixed rental price per night to the property owner when we rent your property on short-term basis (1-30 nights of stay) or we charge a commission of 50% of the first monthly rental when we find a long-term tenant (30+ nights of stay). The main factors forming the rental price in Bulgaria are the location of the property, the standard of furnishing, the on-site facilities in the complex, the season (for ski resorts and beach resorts), the level of the market and the price given by the competitors for similar accommodation.
Our agents are constantly in touch with the property owners, ensuring that they are kept informed about reservations, expenses, income, etc. and any important circumstances that relate to their Bulgarian property.
Owners can use their property as much as they wish provided that they have informed us in advance and if there is no booking already made or long-term tenant staying at their property.
Charge: 15 % or fixed rate
This service is convenient for property owners who already have organised their property maintenance and cleaning personally or with the help of other service providers.
Bulgarian View Ltd can act as your touroperator and provide tenants for long-term or tourists for short-term stay. All the marketing and advertising will be handled by our own marketing department. We are running various advertising campaigns such as local and international advertisements in the press and travel media, internet advertising through our website and our affiliated network, participation in local and international travel shows and high street advertising in our local offices etc. We have teamed up with some of the leading local and international tour operators and travel agents promoting Bulgarian tourism, which guarantees the highest possible occupancy of the properties which we manage, giving you a good return on your investment.
Our agents are constantly in touch with the property owners, ensuring that they are kept informed about current, past and future reservations and amount of rental income generated.
Bulgarian View Ltd team can also meet guests at the airports by providing a shuttle bus or can arrange car hire.
We charge commission of 15% of the gross rental income or pay fixed rental price to the property owner when we rent your property on short-term basis (1-30 nights of stay) or 50% of the first monthly rental when we find a long-term tenant (30+ nights of stay)
IMPORTANT: Please note that if you have signed contract with us for this service our company will not be responsible for the actual mainteanance and upkeep of your Bulgarian property. Also, cleaning, laundry, payment of bills, certifying the apartment for letting, will not be a part of our duties, so you should have organised these in advance with a different service provider. Accommodating our customers in your property we will expect that you or an authorised person will be available 24 hours a day to assist to clients who have rented your Bulgarian property and help them with everything needed (including registration of clients in the local Police office).
Management & Maintenance of properties in Bulgaria
Owners who are not willing to rent out their Bulgarian property are welcome to take advantage of our Management & Maintenance service.
We will look after and keep your Bulgarian property in good order at any time. This also includes key handling, full organisation of paperwork, permanent communication with the property owner at all time, visiting of the property once on every two weeks to make sure that everything is fine, representation of the property owner before third party service providers (inclusive electricity and water supply companies, electronic security companies, etc.). Our local team will also pay the utility bills and annual local tax on your behalf. If any repairs are needed we can arrange for a qualified technical person to visit the place and fix the problem.
Please note that the annual charge does not include the cost of the bills or services provided.
For providing the above services (Management & Maintenance of properties in Bulgaria)we charge annual management fee of 250 Euros.
Properties located outside the towns/resorts where our local office is will be charged additionally at 0.20 Euro/km for covering the transportation costs.
The most important requirement which we have is that the property is connected to an electronic security system with live secirity guards (costs approx. 10 Euros per month + equipment). We also must have a key from the property and a power of attorney in order to provide these services.
Charge: 8-16 ˆ
Our qualified cleaning personel is providing professional cleaning and laundry services after ordering in advance. We have at our disposal own transportation and if your property is within the Locations we cover we can do the necessary job. Listed below are all cleaning and washing services we offer, together with the pricing:
* General cleaning and washing of linen of your Bulgarian property: Depending on the size of your property and its condition the prices start from 9 Euros per studio apartment in Bulgaria, 11 Euros for one-bedroom apartment in Bulgaria and 15 Euros for two-bedroom apartment in Bulgaria. Bigger properties in Bulgaria are subject to negotiation.
* Washing of bathroom tiles of your Bulgarian property: This is a hard work, but must be performed regularly, especially if the property is used frequently. For this service we charge on hourly basis at 5 Euros per hour.
* Washing of windows of your property in Bulgaria: Hard and dangerous job, but must be performed regularly, even if the property is not used. This is specially valid for properties located in apartment blocks. For this service we charge on hourly basis at 5 Euros per hour.
* Washing of carpets and furniture of your property in Bulgaria. A qualified person can effectively clean your dirty carpets or furniture at the price of 10 Euros per hour.
Charge: 150 ˆ per year
The Financial Department of our company can provide foreign investors owning property in Bulgaria through their locally registered Bulgarian Limited companies with valuable accountancy services to comply with the strict rules and regulations of the tax law in this Bulgaria.
Because the Bulgarian law still does not allow foreign nationals to own land, the majority of investors are purchasing their properties through a Bulgarian ltd registered in this country. However having a company is a serious issue and investors must accept seriously the requirements of the Bulgarian tax law, which is quite strict and conservative. During the recent years the Bulgarian tax authorities have become quite active and regular checks are performed with or without a reason. Even if your Bulgarian limited company is registered just to own a property in Bulgaria and not actively trading, it is still subject to control and inspection by the local tax officers.
Each Bulgarian Ltd company (including the dormant ones) is obliged to prepare an annual tax Return (report, danachna deklaratsia) for its business activities and submit it to the local tax office before 15th April each year. The fines for not submitting the annual tax declaration on time start from 2000 Levs (approx. 1000 Euros).
If the company accounts are not kept accordingly or if deadlines are not met, your Bulgarian company will be seriously fined and should expect future inspections from the tax office! If your Bulgarian limited company is renting a property and accepts rental income, it is then automatically considered as fully operational company which means a lot of paperwork, invoicing, tax payment and the services of a qualified accountant.
We therefore recommend using the services of qualified and experienced accountants who will not only prepare the necessary paperwork and look after your books, but will also give you valuable advice on how to legally minimize the tax due. The staff in our Financial Department are able to communicate with you in good English and by e-mail (or any other convenient way). If your company is operating (eg. renting out a property), your accountant will issue invoices, represent your company, pay tax advances as well as all other necessary actions required.
If you wish us to take over the accountancy duties for your Bulgarian ltd company, we will need you to supply the originals of your company documents and company stamp, as well as a suitable power of attorney to represent the company in front of the tax authorities.
For dormant Bulgaria limited companies (registered only to own a property in Bulgaria), or companies without any activities we charge 150.00Euros per tax year which will cover the annual tax return and submission to the local tax office.
If your limited (ltd) company in Bulgaria is operational the charge is paid monthly and is subject to additional negotiation, depending on the amount of work required.
Other services
Airport Transfer
Property Insurance
Furnishing
Refurbishment
Repairs
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