In the essence we aim to provide our customers with the best real estate service possible.
We are committed to achieving this right a way from your first visit, through choosing your property to after sales ongoing support.
MANAGEMENT & MAINTENANCE
Charge: 250 Euros per year, plus 8 % of gross rental
This service is suitable for property owners who are only interested in our services to manage and maintain their property, prepare if for rental (cleaning & laundry), organise the licensing for letting, meet guests on airport, assist guests locally, give/accept keys, pay bills, etc. Please note that with this service we will not be running marketing activities to let your property, and this has to be done by the property owner or another touroperator. Also, rental payments and your income/expenses accountancy and cash flows must be organised by you personally or by another agency. We charge 250 Euros per year, plus 8 % of the Gross rental paid by your tenants/guests. Please note that all charges (utility bills, cleaning, laundry, transportation of guests, annual local tax, tourist tax and insurance, income tax, supplying the apartment with consumables, etc.) must be paid by the property owner or third party and will not be covered by us.
Accountancy & Tax Return
Charge: 180 ˆ per year
The Financial Department of our company can provide foreign investors owning property in Bulgaria through their locally registered companies with valuable accountancy services to comply with the strict rules and regulations of the tax law in this country. Because the Bulgarian law still does not allow foreign nationals to own land, the majority of investors are purchasing their properties through a company registered in this country. However having a company is a serious issue and investors must accept seriously the requirements of the tax law, which is quite strict and conservative. During the recent years the tax authorities have become quite active and regular checks are performed with or without a reason. Even if your company is registered just to own a property and not actively trading, it is still subject to control and inspection by the local tax officers. Each company (including the dormant ones) is obliged to prepare an annual tax report 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 company will be seriously fined and should expect future inspections from the tax office! If your 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 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 before the tax authorities. For dormant companies (registered only to own a property), or companies without any activities we charge 180 Euros per year which will cover the annual tax report and submission to the local tax office. If your company is operational the charge is paid monthly and is subject to additional negotiation, depending on the amount of work required.
Management & Letting
We Charge 550 Euro per year and from 15% to 30% of renting price.
BETA Ltd offers a comprehensive service to owners , which includes everything that is needed to maintain and to rent out your property, from 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. Beta Ltd team can also meet guests at the airports by arranging car hire. 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. 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. For the pointed above services we charge from 15 to 30 % of the renting price, because we have to cover all advertising expenses and other costs. The main factors forming the rental price 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 offices are constantly in touch with the property owners, ensuring that they are kept informed about reservations, expenses, incomes etc and any important circumstances that relate to their 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. We do have specific requirements which must be met in order to accept a certain apartment for Management & Letting.
Please read the requirements below:
SPECIFIC REQUIREMENTS
- The property must have been granted Act 16 and Permission for Use.
- The property must be licensed for short-term letting. We are able to prepare the necessary paperwork and apply for a license on your behalf.
- The property and contents must be insured against all popular risks such as theft, earthquake, flood, fire. We are able to arrange the insurance on your behalf.
- Health/life insurance covering four tenants must be arranged for the property. We are able to arrange the insurance on your behalf.
- The property must be fully furnished and fitted with all necessary items. We require a certain standard of furnishing for a property to be let.
- The property must be in excellent order, with no repairs needed, free of any building/structural problems, etc. All electrical appliances must be in good technical condition, working and safe for use
- We only pay the rental income to property owners by bank transfer into a Bulgarian account or abroad. We recommend that you open an account with a Bulgarian bank to accept your rental income here, in order to save the bank charges from the international money transfers.
Letting Only
Charge: from 15% to 25 % 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. BETA 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. 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 offices 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. We charge commission of 15% to 25% of the gross rental income or pay fixed rental price to the property owner when we rent your property on short-term basis. IMPORTANT: Please note that if you have signed contract with us for this service our company will not be reponsible for the actual mainteanance and upkeep of your property. Also, cleaning and payment of bills 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 to assist to clients who have rented your property and help them with everything needed (including registration of clients in the local Police office).
Management and Maintenance of Communal Areas
Charge: 5-9 ˆ per sq.m.
Apartment blocks and complexes of holiday apartments require serious maintenance of their communal areas, so that the buildings and surrounding areas are kept clean and in good order as required by the law. The quality and standard of communal areas are of crucial importance especially for the complexes of holiday apartments which are rented to tourists on short-term basis. BETA Ltd and our highly qualified local teams of cleaners, technicians and gardeners will provide all necessary services required for the good upkeep of the common parts of your building. The annual charge is calculated according to the total size (actual area plus common parts) of your apartment and depends on the character of your communal areas and varies from 5 to 9 Euros (VAT included) per square meter per year and is due to be paid in advance. For example if the building/complex has a swimming pool the annual charge will be hihger due to the hihger maintenance costs of a swimming pool. The annual charge will also cover the cleaning of your commuanl areas, maintenance of your elevator, maintenance and watering of communal garden, organisation of repairs (if needed), etc. Please note that for additional fee and provided that there is a suitable reception/room, we can also provide a live security guard on full time job to protect your building. IMPORTANT: The quoted annual charge will not cover unexpected repairs or fixing of problems due to bad construction works. We can deal with such problems, but only after the necessary costs are covered by all neighbours. BETA Ltd can take over the maintenance of communal areas of your building only if 100% of your neighbours are willing to use our services. We can make a quotation for maintenance of communal areas only after a representative of ours has visited the block/complex.
Cleaning & Laundry
Charge: 8-15 ˆ
Our qualified cleaning personell 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: Depending on the size of your property and its condition the prices start from 8 Euros per studio apartment, 12 Euros for one-bedroom apartment and 16 Euros for two-bedroom apartment. Bigger properties are subject to negotiation.
- Washing of bathroom tiles: 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 4 Euros per hour.
- Washing of windows: 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 4 Euros per hour.
- Washing of carpets and furniture with RAINBOW machine: This is one of the most advanced cleaning machines. A qualified person can effectively clean your drity carpets or furiture at the price of 8 Euros per hour.
IMPORTANT: Properties located outside the town/resort where our nearest office is will be charged additionally to cover the transportation costs. Prices are inclusive of VAT and all taxes. Ordering in advance and provision of exact address of the property are required.
