Management and letting

Management and letting of apartments in ski resorts
Bulgaria is famous for its magnificent ski resorts. The top ski destinations are Bansko, Pamporovo, Borovets as well as a number of small resort villages serviced by our office in Bansko.
Bansko is widely acclaimed as the newest and most fashionable of all for it has the best ski runs, slopes and lift facilities to offer for a perfect skiing holiday. It favours the best skiers and snowboarders, who can enjoy excellent conditions for winter sports, entertainment, and relaxation.
The crowds of tourists, streaming to Bansko is never ending and it attracts visitors not only in winter but also in summer. The beautiful surrounding forests add refreshing coolness in summer to the modern amenities for a comfortable and enjoyable holiday.
Another main attraction to be is the golf course close to Bansko and it will undoubtedly draw in an even larger number of sports people.
Recently the construction of enclosed elite complexes, hotel buildings, apartments, single-family and two-family houses with all possible amenities has increased enormously and made the real estate market exceptionally dynamic and attractive for foreign investors because of the low prices of such properties compared to similar resorts in other European countries.
The skiing season in Bansko begins on 23-25 December and lasts until mid-April, and reaches its height in the month of February when the demand for apartments for rent and rent rates peak. If you already own a property in some of the Bulgarian ski resorts and you intend to rent it out, you need to bear in mind that:
1.The skiing season lasts from 25 December until 15 April and it is very likely for your apartment to stay vacant. This does not hold true, though, for properties in the big resorts, but rent rates in summer are much lower than in winter.
2.Rent is different for brief tenancy and longer tenancy, and so are utility bills. With longer tenancy, they are payable by the tenant, whereas with brief tenancy they are paid by the owner and should be included in the rent.
3.The apartment must be fully equipped and furnished, so that provided amenities and comfort are good value for the money the tenant pays.
4.In case your apartment has just been built or, for whatever reason, it does not comply with our criteria, our company Property Management Ltd. is capable of improving it up to the standard by order of owner and at his expense. Then we can provide management services to the owner.
Usually tenants of such premises are foreign tourists on holiday in Bulgaria or local people and companies working in the resorts. Most wanted are apartments near lifts and transport services, with beautiful views, Internet connection, pool, fitness club, etc.
- Our company manages apartments bought from us or from our partners.
- Our company manages properties of standards good enough for the premises to guarantee their maximum occupancy rate in winter.
- Our company ranks among the biggest property management companies in Bulgaria.
- Our company can ensure excellent returns on your investment.

Management and letting of coastal apartments
Our company manages apartments in all Black Sea resort areas, providing that they have the image and location to secure their letting.
In recent years the building up of the seaside has been booming and the real estate market has developed very well and offers a wide variety of apartments of every class, every stage of completion, and every distance from the beaches. Premises, services and prices are more competitive compared with established resorts in Spain, Greece, and Turkey. Not only competitive prices of coastal properties attract numerous foreign investors, they are absolutely fascinated by the beautiful landscape, vast and clean sand beaches, long hot summer, wide variety of entertainment, and hospitable friendly locals.
The top Black Sea resorts rank Sunny Beach, Golden Sands, and Albena, widely known and recognized round the world.
There are a number of lovely smaller resort towns and villages, such as Kavarna, Ravda, Primorsko, Kiten, Sozopol, etc. which are enjoying upward property market tendencies, too.
There is an abundance of property developments with enclosed luxurious villas, single-family, and two-family houses, built and furnished to the best of taste and comfort for a perfect holiday. Our company has offices in Sunny Beach and Bourgas to serve the Southern Black Sea Coast. For our clients from the Northern Black Sea Coast, we have opened our newest office in Varna.
All our clients interested in acquiring an apartment to let in the Bulgarian Black Sea resorts, should know that:
5.The high season is from 1 June till 30 September and most probably the premises will stay vacant during the rest of the year. However, this does not hold true for apartments in the big cities, although rent is much cheaper during off season, particularly in winter months.
6.Rent is different for brief tenancy and longer tenancy, and so are utility bills. With longer tenancy, they are payable by the tenant, whereas with brief tenancy they are paid by the owner and should be included in the rent.
7.The apartment must be fully equipped and furnished, so that provided amenities and comfort are good value for the money the tenant pays.
8.In case your apartment has just been built or, for whatever reason, it does not comply with our criteria, our company Property Management Ltd. is capable of improving it up to the standard by order of owner and at his expense. Then we can provide management services to the owner.
9.Usually tenants of such premises are foreign tourists on holiday in Bulgaria or local people and companies working in the resorts.
Management of offices and shops
Management of offices and shops is a considerable part of the services our company has been providing since it was founded. For this purpose, we have a team of specifically trained and knowledgeable specialists. Our established experts recommend to potential investors to consider seriously the opportunities for obtaining premises on ground floors of buildings with good location in big cities or in business buildings in top tourist destinations. Such investments can be long-term ventures having quick returns on investment and insignificant risk for the industry of services in Bulgaria is well developed, the influx of tourists in summer and winter is increasing rapidly, and there are good opportunities to let such premises all year round.
For the successful management of offices and shops, we have established the following requirements:
1.The premises should be purchased through our company or our partners.
2.The area of premises should at least be 50sq.m and/or located in an attractive location, such as a seaside or ski resort, or business areas of big cities.
3.Premises should meet the specific requirements, so that they can ensure licensing and modern comforts.
4.If the premises do not meet the specific requirements, we are capable of improving them up to the standard by order of owner and at his expense. Then we can extend our property management services to the owner.
The specific requirements for offices and shops to become operational may differ in accordance with their location, number of floors, height of rooms, number of entrances, number of sanitary facilities (toilets), etc., as well as scope of activity.
1.Our company can offer to rent fully furnished premises from the owner or we can improve them up to the standard for immediate use by order of owner and at their expense.
2We can assist the owner to obtain and safe-keep all documents necessary for the lawful operation of the premises.
3.We can offer to conclude short-term and long-term rental agreements with tenants upon authorization from the owner.
4.We can offer to take care for small repairs, paying for utility bills, property taxes, etc. depending on the contract provisions for management.
You should take into consideration the following legal provisions:
- You have to pay income tax on your rental revenues.
- If you have acquired the property as a natural person, then you owe to the Government 15% from your revenues from rent.
- If you have acquired your property as a juridical entity, then you owe to the Government 15% from your net profit. When the turnover of such company exceeds 50,000 BGN (about 26,000 euros), the company must be VAT registered, and this leads to a 20% deduction from the monthly revenues and requires employment of an accountant.
We can undertake to manage properties of any type and deal with all related issues, and we can help you choose the best possible management practices.
Management of restaurants, night clubs, and cafes
The opening, establishing and managing of restaurants, night-clubs, bars and cafes is a serious business and it requires sound professional knowledge about norms, stipulations and regulations, personnel recruitment, training and management, marketing techniques, quality of service, accounting, etc.
Our company is very experienced in such a kind of management and we encourage and persuade willing clients into buying such properties, for such investments return high yield with a low risk profile because of the well-developed tourist industry drawing an ever-increasing number of holidaymakers and local people who enjoy eating and drinking out. The food and beverage businesses suffer only slightly from factors related to season or location because they are frequented year round.
1.Our company can offer to rent fully furnished premises from the owner or we can improve them up to the standard for immediate use by order of owner and at their expense.
2.We can assist the owner to obtain and safe-keep all documents necessary for the lawful operation of the premises.
3.We can offer to conclude agreements with suppliers to deliver goods and services necessary for the smooth and quality operation of the premises.
4.We can recruit managers and employees.
5.We can provide successful advertising strategy by order of and at expense of owner for their premises to become more profitable.
We can give owners monthly statements and reports and remit their rental money, deducting from collected rents the agreed commission charges against our services for the overall management of the premises. This offer is extremely advantageous to owners because it guarantees them a quick return on investment and a substantial monthly rent, and it does not require great effort and profound knowledge from owners.
You should take into consideration the following legal provisions:
- You have to pay income tax on your rental revenues.
- If you have acquired the property as a natural person, then you owe to the Government 15% from your revenues from rent.
- If you have acquired your property as a juridical entity, then you owe to the Government 15% from your net profit. When the turnover of such company exceeds 50,000 BGN (about 26,000 euros), the company must be VAT registered, and this leads to a 20% deduction from the monthly revenues and requires employment of an accountant.

Management and letting of rural houses and villas
This service is quite new for our company and it includes properties located not farther than 50 km from our offices in Bourgas, Bansko, and Sunny Beach. In recent years there has been an increasing tendency for both investors and tenants to look for such properties. Young families on a good or average income, who wish to raise their children away from the hustle and bustle of big cities as well as tenants from abroad, who love the beauty and traditional lifestyle of the Bulgarian villages, form the bulk of clients.
The infrastructure in most places is underdeveloped, but the romance, un-spoilt nature, peace and quiet, warm attitude of locals, and the easy access all year round make more and more people want to move to  rural areas. Rural Tourism has been developing rapidly recently and many municipalities are trying to draw in visitors who wish to benefit from their touching to the Bulgarian history, traditions, and countryside atmosphere.
1. Our company offers to manage rural properties provided they are located 50 km at the farthest from our offices in Bourgas, Sunny Beach and Bansko. (New offices in Sofia and Varna are to be opened shortly).
2. The rural properties should be in a very good condition and they should allow access during the whole year.
3. The properties should have amenities necessary for the ease and comfort of the tenants (see checklist of required furniture and household appliances).
4. The properties have to have been purchased through our company or through our partners, or they have to have been refurbished to rent by our company.
Our management services include:
- guest collection and transfer from airport;
- property maintenance (making small repairs);
- laundry and cleaning;
- paying utility bills;
- rents collecting and remittance, etc.
We are prepared to render such services upon signing up of the Property Management Agreement stipulating rights and responsibilities.
However, we shall stick to our rule not to enter into agreements, which do not conform to our requirements or are located in areas, which are unlikely to attract visitors. For more information, please inquire at info@propertymanagementbulgaria.com.