Budapest - Managing Agents / Holiday Lets

M

marta79

Guest
Hi!
I own a classical apartment in Budapest, District I, in a very central location, at the bottom of the castle and a 2' walk to chain bridge. It is 60sq.m, bright and in a renovated building.

The apartment has been empty for over 2 months and I'm now beginning to wonder whether the agent I have is putting the effort needed to rent it out. [I should add that the agent gets paid a monthly fee whether the flat is rented or not.] I will be grateful if anyone can recommend agents in Budapest.

Due to the apartment's location and proximity to the castle I'm also considering renting it out as a holiday apartment to tourists. But again I would need a good agent to be able to do that! If anyone has any experience in this I would be grateful for any advise/comments.

Thanks!
 
Something like that should rent well; that's a nice place to live. In my experience, lots of agents in Budapest are mediocre, they do the job but only just. you really have to keep pressure on them all the time, keep in contact to see how they're doing. The wheel that squeaks the loudest gets the oli!
 
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Rather surprisingly, apartments in Pest (particularly District V) tend to be more popular with tourists than those in District I. If I were you, marta79, I would try to save a lot of hassle and get a long-term tenant. It isn't that difficult at the moment, if you have the right management company and offer the apartment at the correct market value.
 
Budapest I agree that a long term tenant is probably best - does EUR350 sound reasonable for a 60sq.m furnished flat in a prime location in district I? Can you recommend any local agents that are half-decent - the agent I have at the moment seems to be more active with students. Ideally I would like to attract a single local professional.

Thank you all for your input
 
It sounds a little low. 400-450 euro would be a reasonable rent for something like this, assuming it was bright, quiet, furnished well and the building was nice. District I is central but sometimes not the easiest to rent to foreign tenants. Local professionals may be more interested and could afford the rents quoted above.
 
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