Some of our St. Ivan Rilski Hotel & Apartments clients take advantage of the rental management service and rent their apartment out when they do not use it.
The renting of apartments is subject to a separate contract between the property management company (FPPM) and the owner of the property. Owners may specify two weeks within the high tourist season, in which they will use the apartment themselves so that the property is rented out in the remaining period. As owner, you need to specify this in advance so that we know when to rent the apartment out. The marketing, advertising and promoting of your apartment to tourists is the first obligation of the property manager as per the rental contract. With regard to this, the property management company signs contracts with tour operators and other organizations to provide for a maximum occupancy of apartments rented out in St. Ivan Rilski Hotel & Apartments.
To rent the apartment in St. Ivan Rilski Hotel & Apartments out, you need to make sure that:
- Furnishing must comply with the 4-star hotel standards (all our furniture packs comply with these standards);
- There is specific additional equipment (TV set, towels, bed linen, toaster, plates, cutlery, etc.; all of them part of the Additional Equipment Pack)
- Bills for the apartment are paid on time (we assist you in that with our Expenses Management Pack), and the costs for keeping the apartment clean are covered.
The rental management of the apartment is divided into activities undertaken during the period of renting of apartments out and activities undertaken in the apartment when it is not occupied by tenants.
When the apartment is not rented out, the property management company continues to take care of the property by paying bills, for instance. The property manager keeps the apartment clean and maintains it in a state to be successfully rented out to tenants.
During the periods when the apartment is rented out, the property manager keeps the apartment ready to be accommodated (i.e. clean, equipped with needed items such as towels, various consumables, etc.). The costs for utilities such as electric supply, water supply, cable TV, etc. are included in the rental price. The everyday cleaning, as well as the change of bed linen are also among the services rendered to tenants.
The property manager keeps you informed about the periods in which your apartment is rented out, about incomes, costs to be covered out of the high season, etc.
For the marketing and management of your apartment, we take a specific percentage and/or fee of the income yielded. The rest of the income is paid to you each year in the month of December. The payment is made to the bank account of yours you specify in the contract. Therefore, if you change your bank account, you need to inform your property manager so that they transfer the amount into the right account.