This will include: Holiday Rent collection, deposit of rental monies into your bank account, a laundry and cleaning facility ever three and seventh days, inventory checked upon departure.
Switching on electricity, water and making sure the property is well aired before your/tenant's arrival.
By using our service, you can expect almost full rental occupancy in July / August and a good occupancy in May/June and September/Oct. Please e-mail us with the details of your apartment/ house and the rental income you would expect if you would like to get to use our rental service.
Rental income: The rental income depends on the type and the location of the property that you buy and you can expect an annual return on investment (ROI) of between 5% and 10% per year. However, this does not include the capital appreciation, which is about 20% per year.
At the resort areas on the Black Sea coast and the ski resorts the rental market is seasonal in nature. For example in some areas like Nessebar, Saint Vlas and Sunny Beach you can expect good rental income during the entire summer season (June, July, August) although during the seasons of Spring and Autumn this will be lower. In The Mountain areas & Ski areas you can expect good rental income during the entire Ski season (Jan,Feb,March) but also in the summer season for Walking, Biking etc season
Rental income taxation: Although rental income is subject to taxation by the Bulgarian Government, in practice not many of the private individuals, foreign or Bulgarian, who rent out their properties, declares that in front of the tax authorities. The basis of the taxable income of a company, investing in Bulgarian real property is the gross income derived from the property minus tax-deductible, property-related expenses and depreciation. Such expenses include repairs, maintenance, renovation and similar costs and interest on loans used for the acquisition of the property. A Municipal Tax at a rate of 10% of the profit is due. This is then deductible in calculating taxable profits which are subject to a flat rate of 25%. Foreign investors are guaranteed full repatriation of profits resulting from an investment in Bulgaria. The transfer abroad can be made only after the bank affecting the transfer is presented a certificate proving payment of all Bulgarian taxes due.
Renting Out: You may be thinking that prices are cheap, mortgages are plentiful and foreign tourists are arriving in droves but how do you let out your newly acquired Black Sea apartment? Fortunately this aspect of the market is maturing rapidly. You can arrange for your apartment to be let for the season by one of the large holiday operators, or we will advertise any property purchased from us FREE for one year. In some cases the developers continue to manage the estate including the contracting with the tour operators. This can save a lot of complications which is why we have tried to consider all aspects to ensure you have a trouble free experience.