Property management fees Budapest

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bondiblues

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The management company I use in Budapest have just informed me that they are raising the monthly fee to 20% from 12%. This seems very high to me. Is this a reasonable price or should I look at moving to a new company? Any advice appreciated!
 
I use the same company. It seems the 20% now excludes the quarterly statement of incomings/ outgoings I used to get. As far as I can make out (very sketchy spreadsheet arrived, no full terms and conditions) this is now hived off and will cost 10,000HUF per month extra. Bum deal?
 
Unless your management company is exceptional, 20% per month is ridiculously high. If you have a good apartment, there are several competent local agents over here who would act on your behalf for around half of this amount.
 
Dear Budapest,

There appears to be other posters that would like to know who these 'competent' agents are. Who are they ? If there are several - can you name three perhaps ?

In my case the Apartment is in Marina Part (XIII), whether the Apartment is good or not I guess is subjective.
 
The better management agents tend to pick their clients rather than the other way around. It's a two-way street and it's vital in Bp to build up relationships with agents.

Three companies I or my contacts have had good experiences with - and who are currently potentially open to new clients are:
West Budapest Estate, ([FONT=Verdana, Arial, Helvetica]westbudapestestate@t-online.hu[/FONT]),
BPS Hungary (http://www.bpshungary.com)
Hungary Property Line (First result on Google. The direct link is being blocked here for some reason).

No agent will want to take on unrenovated, poorly located or poorly furnished apartments. They all want apartments that will rent easily and where they don't need to spend time dealing with repairs/renovation.
 
Great - thanks for those. As my building is still being renovated two m.a's we approached didn't want to take our apartment on until that was complete. Can't blame them, I suppose.... Stuck with CCEP's new high fees until then unless I can make a private arrangement with someone.
 
Hi, I don't want to blame anyone, but I wouldn't really recommend BPS. Don't know the other ones, but had some bad experiences with this co. Would also recommend Alberta Ingatlan, Tower and CE Invest. GT.
 
Hi gtyler,
I totally agree with your BPS comment. I have a friend whose apartment was managed by them. The management fee they charge is comparatively high (I wouldn't suggest anyone spends more than 10% on the fee), and when he came to his senses and finally left them, the trail of disaster that followed is amazing. He is currently taking legal action against them.
Having lived here for a few years, I have managed to weed out the good from the bad. I can put you in touch with a company who is English speaking/owned and has a really great reputation (believe it or not, there are some out there).
 
I am interested in finding out about tower properties in Budapest, having heard mixed reports. Any information very welcome. Thank you.
 
feathereleph said:
I am interested in finding out about tower properties in Budapest, having heard mixed reports. Any information very welcome. Thank you.
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personally I've dealth with them and other agents, and found them fine. They did everything they were asked, and were generally helpful.

In my opinion all agents are generally good if you have a central & rentable place. None of them want places on their books that are going to be hard to shift. Its no different to anywhere else.
 
My place is in the Castle Area. Any views about that?
 
feathereleph said:
My place is in the Castle Area. Any views about that?
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thats best left to local commentators like Budapest TBH; I'm in dis 6 so can't really comment on the rental potential of the castle area; but it'd definitely be more expensive, not sure about the pool of available renters at that side of the river though.
 
feathereleph said:
I am interested in finding out about tower properties in Budapest, having heard mixed reports. Any information very welcome. Thank you.
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Yep. No real problems with Tower. My property is rented of course, so that's probably why I don't have any issues. Their login system is good.
 
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