The main stages of renting a property in Bulgaria are the following:
Finding the Property You Want to Rent
Most often, though not certainly, assistance in finding a suitable property is provided by real estate agencies. Commissions for the services rendered on the transaction should be paid to the respective organization. The amount of the commission is arranged between the agency and the client, and usually, it is 50% of the first rent payment.
No matter whether you are going to buy or rent a property, we highly recommend a full property check of the place you are going to stay in. Numerous lessees are now experiencing problems with the property that they rented because they did not seek independent legal advice and instead used lawyers which were recommended by the estate agent or developer and in some cases were acting for both parties. Always appoint a lawyer who is experienced in property conveyance and entirely independent of anyone else involved in the transaction, including the estate agent or the landlord.
Rental Contract – General Conditions
With the conclusion of a rental agreement according to Bulgarian law, the lessor obligates himself to give the property to the lessee for temporary use, and the lessee undertakes to pay him a set price.
The rules concerning lease agreements are enshrined in the law of obligations and contracts, in Articles 228 to 239.
Unless otherwise agreed, the lessor is bound to hand over the property in a state which is appropriate to the use it has been leased for and keep this state for the duration of the contract. If the leased property was not handed over in a decent condition, the lessee may claim its repair or a proportionate reduction in lease price or may revoke the contract of lease. In all cases, he is qualified to claim damages.
According to Bulgarian law, the lease agreement may not be signed for a period longer than ten years, unless it is a commercial transaction.
If the contract is signed for a longer period, it has validity for only ten years.
What is very important to check in the rental contract before signing is:
- What exactly are your obligations and what is the default for non-performance?
- How is the payment method determined?
- How can you terminate the contract?
- Is there a clause for automatically renew?
We assist you with the following real estate renting solutions:
- Complete property check up
- Assistance with finding the desired property
- Drafting and revising the renting contract
- Go back to the real estate main page.
In case you need additional support and information, do not hesitate to contact us.