Veres Pálné 5 district, 55 sqm, 2 rooms, courtyard view |
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| Near Erzsébet Bridge, two minutes' walk to the underground station Ferenciek tere, nice, bright apartment with one bedroom, living room with a sleeping gallery is available for rent. |
| Price: 400 EUR |
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| Rent
your apartment through BudapestRent service |
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| Terms
and Conditions |
Upon signing the Agreement, the
Owner shall sign an Authorization
letter, authorizing the Company and/or
any of its employees to sign payment
orders, examine bills, clarify balances
with the gas company, the electric
company, water authorities, telephone,
municipal rates and any other payments
burden by the owner of the property,
lease agreements, letters to residents,
contact with solicitors and accountants,
and anything else required for purposes
of proper maintenance of the Property
in the name of the Owner.
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| The
Services |
Within the framework of the
management contract, the Company
shall:
- Make all possible efforts to
find tenants for the Property,
at the best possible terms.
- Carry on negotiations with
the tenants, shall receive the
Owner’s final consent with
respect to the rental rate and
conditions of payment, and shall
sign the renters on a lease agreement.
- Collect the rent from the tenants
and deposit them in the Owner’s
bank account.
- Visit the Property, and inspect
the condition thereof.
- Send the Owner a quarterly report
with respect to the condition
of the Property, its contents,
income and expenses.
Services not be included in the
management fees paid by the Owner
are:
- Furnishing the Property.
- Painting, internal repairs,
electrical and water installation,
inside and outside the Property,
and the like.
- Legal representation in the
event such is required (only by
the company lawyer/ bookkeeper)
- Cleaning of the flat during
the period the flat is not leased.
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| Deposit |
- The Owner shall deposit 300
EURO with the Company. This amount
shall be at the disposal of the
Company for purposes of current
payments and/or immediate repairs
required.
- Should the mentioned amount
will not be sufficient the company
will be entitled to set the amount
due off the rental fee.
- Should the Owner fail to transfer
payments in a timely manner, and
be charged fines and/or interest
thereupon, all shall be his responsibility
and at his expense.
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| Repairs
to the Property |
- Any repairs required in the
Property, which are the Owner’s
responsibility, shall be implemented
by the Company, and shall be paid
by the Owner.
- The Company shall send the
Owner the quote for the Owner’s
written approval, and after so
receiving, shall implement the
repair.
- In the event immediate repair
is required and cannot wait, the
Company shall implement the repair
immediately, and charge the Owner’s
account.
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| Rental
Agreement with Tenants |
- In the event that the company
can not find a tenant to the apartment
it can contact other real estate
agencies in the matter, all charges
made the other agencies will be
paid by the owner.
- Deposits received from tenants
according to terms of the lease
agreements shall be deposited
in a trust account in the name
of the Company, in Forint, and
shall be returned to the tenant
or forfeited according to the
terms of the lease agreement.
- In the event of breach of a
lease agreement by the tenant,
i.e.: failure to evacuate the
flat, damage, failure to pay debts,
and/or any other breach of the
lease agreement. The Company,
with the Owner’s approval,
shall take all the usual and legal
measures in order to collect the
debt.
- In such aforesaid case, the
Owner shall sign a power of attorney,
as needed, so that the Company
may represent him before the Hungarian
legal authorities.
- All direct and indirect expenses
shall be the Owner’s responsibility.
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| Report
to the Tax Authorization |
The Company will hire bookkeeping
services and will take care to make
all the necessary periodical reports
as request by Hungarian law.The
cost of those services – 75,000
HUF + VAT per year will be paid
by the Owners.In case of change
in the above-mentioned cost the
Company will notify the Owners in
writing.
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| Daily
Rental |
Should the Owner wish to lease
the Property for daily rental, the
division of income shall be as follows:
- 50% of the income to the Owner
- 50% of the income to the Company.
- Cleaning services shall be
at the expense of the Company.
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| Insurance
of the Property |
- The cost of insurance shall
be the Owner’s responsibility.
The Company shall select the Insurance
Company.
- In any event, the Company shall
not be responsible for property
and/or bodily damage of the flat
and/or a third party.
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| Costs |
- Yearly management fees shall
be 12% + VAT of the yearly rents.
Management fees shall be paid
on the first of each calendar
month.
- In the event a flat has not
been leased, a minimal payment
of EURO 25 + VAT (in Forint) per
month shall be paid. Management
fees shall be paid on the first
of each calendar month.
- In case of a service given
to the owner by a third party
under the supervision of the company,
the company will charge the owner
a supervision commission - 10%
+ VAT of the charge made by the
third party.
- All the above payments can
be paid by deduction from the
rental fee (in the event the flat
is leased).
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| Miscellaneous |
- Any notice from one party to
the other shall be acceptable
only in writing (e-mail or fax
transfer acceptable). The address
for letters is the address mentioned
in the prefix to this contract.
- In the event of a dispute between
the Parties, the authorized legal
authority shall be the Hungarian
Court in Budapest.
- This Agreement shall be for
a period of one year.
- Should the Parties wish to
extend the applicability of the
Agreement for another year, this
shall be done by written notice
(e-mail or fax) , one month in
advance.
- Each Party shall have the right
to terminate the Agreement by
three months’ advance notice,
on justified grounds.
- In the event of any illegal
action taken by the Owner, the
Owner shall be responsible before
the Hungarian legal authorities.
Should any damages be caused to
the Company because of the aforesaid,
the Owner shall remunerate the
Company for any such aforesaid
expenses.
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