need new rental agency for spa apartment Sandanski

[angelra]

Sandanski properties have just cancelled my rental agency agreement.....they still have not paid me 2 years rent! I have a furnished studio in a big spa complex called Medite. Has anyone else had this problem? Can anyone recommend an agency in this area to rent out property and also sell it?

 

[KayJay]

There are plenty of For Sale ads for apartments in Sandanski on Imoti.net - should be easy to find an agent there. However, prices in Medite are pretty depressed these days, as I'm sure you're aware, so selling at a good price may be a bit of a struggle. Fleabay might well be the way to go but could involve a lot of time-wasters and possibly some fruitless trips to Bulgaria....

Good luck with renting/selling and do let us know how you get on.

 

[angelra]

Thanks for the advice. I will give them a go. Cheers

 

[angelra]

Hi I am having great trouble finding a hotel room renting company. Any more ideas? Thanks

 

[KayJay]

Do you mean a company to rent your apartment out for you or a company who can find you a hotel room to rent while you visit?

 

[angelra]

hi
Sorry I meant I was desperate to find someone to rent out my aparthotel as Sandanski properties have cancelled my rental agreement. I cannot leave it empty.

 

[KayJay]

Especially in the present weather - the pipes will almost certainly freeze and make it uninhabitable. You really need to come over and check out the present condition of the apartment before you start contacting agencies. When were you last in BG? It may well be that an unscrupulous agent has been renting out your apartment and forgetting to mention it to you.

You have 2 problems in one, I'd say - getting it rented isn't a massive problem but you need it managed as well unless you intend to be flying backwards and forwards every time there's a problem. Many agencies only let (less hassle and easy profit) and some of the "management agents" are much more interested in just getting a tenant in; when it comes to problems they often don't want to know. In one of our complexes, it's not uncommon to have owners faced with big electricity bills and several months of unpaid rent when they discover that tenants have "done a moonlight flit". The agents just shrug and "generously" offer a reduced fee for finding the next tenants.

I can see that one large agency both sells and rents apartments in Sandanski, so I'd start with them, if I were you. I'm assuming your Bulgarian isn't too hot, so try this link

Google Translate

 

[angelra]

Especially in the present weather - the pipes will almost certainly freeze and make it uninhabitable. You really need to come over and check out the present condition of the apartment before you start contacting agencies. When were you last in BG? It may well be that an unscrupulous agent has been renting out your apartment and forgetting to mention it to you.

You have 2 problems in one, I'd say - getting it rented isn't a massive problem but you need it managed as well unless you intend to be flying backwards and forwards every time there's a problem. Many agencies only let (less hassle and easy profit) and some of the "management agents" are much more interested in just getting a tenant in; when it comes to problems they often don't want to know. In one of our complexes, it's not uncommon to have owners faced with big electricity bills and several months of unpaid rent when they discover that tenants have "done a moonlight flit". The agents just shrug and "generously" offer a reduced fee for finding the next tenants.

I can see that one large agency both sells and rents apartments in Sandanski, so I'd start with them, if I were you. I'm assuming your Bulgarian isn't too hot, so try this link

Google Translate

Thanks...The link unfortunately just goes to a blank page with "translate" on it. I have maintenance contract still at sandanski properties. The apartment is a hotel apartment room at Medite spa complex that is why it is so hard to rent.

 

[KayJay]

The imoti site is running VERY slowly tonight (especially in Internet Explorer),which may explain why it's not responding. Try this link instead èìîòè . íåò - imoti . net - ïîðòàë çà èìîòè, èìîòè, ïðîäàæáè, íàåìè, íîâè ñãðàäè, èìîòè â ñòðîåæ, íîâèíè (ignore the gobbledygook in the address itself )

Bear in mind that a maintenance contract isn't a management contract - and maintenance usually just covers the maintenance of the complex as a whole rather than your apartment, although this MAY be different in Medite. A management contract usually covers the management of your apartment in terms of allegedly sorting out problems with tenants.

I don't know how rents at Medite compare with the town itself - Sandanski average asking rent is around 3.5 Euros/m2; I don't know what they are actually achieving though.

Selling prices are very low in the complex: 1-beds were going for £6-7k last year and they've been dropping all over Bulgaria. The problem is that the complex isn't being properly maintained, from what I hear, and many owners aren't paying their fees. As I'm sure you're aware, there was a big question mark over the whole complex regarding the developer and mortgages; I don't know if this has yet been properly sorted out or not? I understand that the full maintenance fee of 7.20 euros/m2 becomes payable if you have no agreement for them to handle the rental.

I have to admit that in your place I'd be looking to sell asap and cut my losses but unfortunately it's very much a buyer's market and will be for some considerable time to come.

 

[angelra]

The imoti site is running VERY slowly tonight (especially in Internet Explorer),which may explain why it's not responding. Try this link instead èìîòè . íåò - imoti . net - ïîðòàë çà èìîòè, èìîòè, ïðîäàæáè, íàåìè, íîâè ñãðàäè, èìîòè â ñòðîåæ, íîâèíè (ignore the gobbledygook in the address itself )

Bear in mind that a maintenance contract isn't a management contract - and maintenance usually just covers the maintenance of the complex as a whole rather than your apartment, although this MAY be different in Medite. A management contract usually covers the management of your apartment in terms of allegedly sorting out problems with tenants.

I don't know how rents at Medite compare with the town itself - Sandanski average asking rent is around 3.5 Euros/m2; I don't know what they are actually achieving though.

Selling prices are very low in the complex: 1-beds were going for £6-7k last year and they've been dropping all over Bulgaria. The problem is that the complex isn't being properly maintained, from what I hear, and many owners aren't paying their fees. As I'm sure you're aware, there was a big question mark over the whole complex regarding the developer and mortgages; I don't know if this has yet been properly sorted out or not? I understand that the full maintenance fee of 7.20 euros/m2 becomes payable if you have no agreement for them to handle the rental.

I have to admit that in your place I'd be looking to sell asap and cut my losses but unfortunately it's very much a buyer's market and will be for some considerable time to come.

thanks Kayjay...not good news but I appreciate your advice. I will try and find an agent to sell...

 

[KayJay]

I saw a couple for sale on Fleabay last year - one here, for example: eBay - The UK's Online Marketplace

Prices have been dropping since then, which is not good news, and the on-going problems within the complex itself must have adversely affected sales potential. It's only partly useful as a guide-line but I've bought a number of fairly recently-built apartments in Sofia, where the market is still pretty resilient, for around 20% of the initial selling-price. I'd say you need to be prepared to either bite the bullet and take a BIG loss or hang on for a few years until the property scene revives - although how long it will take to get back to the levels of a few years ago (if it ever does) is anyone's guess. :dontknow: