The process to rent or let a property

• Author: Hristova, Nataliya
• Pages: 40-44

Consum er mar ket stud y on the fun ctio ning of the r eal estate servi ces for consum ers in the EU – Coun try Fiche Bulgaria

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6. The process to rent or let a property

6.1 Main st eps in t he transaction process t o rent and let a property

Ta ble 13: Ma in st eps o f t he p roce ss t o ren t an d l et a pr ope rty

Ma in st ep s

Pr ocess i nvo lve d

Finding and ma tching land lord s and ten ants

Many possibilit ies – newspap er adv ert isem ent , i ntern et adv ert isem ent , p erson al

contacts et c., but in m ost cases n ow vi a let tin g agent s.

Informa tion sear ch by landlor ds or tenan ts ( e.g . about salar y,

out standing debts)

Letti ng a gent s (t his kind of inform ati on is searched by t he p arties very rarely in

pract ice).

Insp ecti on of th e pr oper ty by t enan ts ( in some cases with th e hel p

of pro fessio nals)

Yes; usuall y wit h landl ord and possib ly t he let tin g age nt.

Del iver y of man dator y in for mat ion t o t enan ts p rior to the

con clusion of th e con tr act

Yes; usu ally in form ation is delivered by t he l andlord and th e let tin g ag ent

Del iver y of ener gy per for man ce cert ifi cate to ten ant

Not yet usu al

Provi sion of additional gua rant ees to landlor d

A d eposi t sch eme is a ppli cable t o rent con tract s in most cases.

In very rare cases, par tie s may agr ee 3 to 6-m ont h gu arant ee d eposi t or an

adv ance paym ent correspon ding t o 3 to 6-mont hs’ rent . This kind of gua rant ee is

usually appl icable by r enting of comm ercia l areas or luxury hom es.

Concl usion of th e contr act in t he u sual form ( e.g. oral, w rit ten ,

preformul at ed )

Usually w ritten and invar iably on t he st andard for m pr ovided by th e let ting ag ent;

th ere is usu ally no scope f or n egotiat ion.

Rent pay men t an d deposit (e.g. bank accou nt)

Direct debi t u sually req uir ed. Deposit of month ’s r ent plu s on e month as secur ity .

Registr ation of th e contr act in t he lan d re gister

Registr ation in lan d regist er is allow ed by Law a nd i s hig hly recom men ded in

def ence of te nant ’s i nte rest s (See Table 10 below) . I n p ract ice, it is app lied in v ery

rare ca ses, mai nly by renti ng of comm ercia l pr oper ty (st ore s, off ices, st ora ge-

acco mm odat ions).

The req uir em ent t o ob tai n e nerg y p erf orm an ce ce rt ific ates for n ew b uil din gs an d b uil din gs i n op era tio n i s in tro duced by th e Ene rgy Effi ciency Act an d ap plies

fr om 30.12 .2016 . Acco rdin g t o t he Law of t he o wner s of new bui ldin gs ( Art . 39 § 2 Ener gy Effici ency Act – con cern s the own ers of n ew bu ilding s wi th Usage

per mit ) owner s are obliged to pro vide wit h en ergy eff icien cy certi ficat es n ot earlier then 3 and not lat er t han 6 years f rom th e da te of t he Per missio n t o use

th e bu ildin g. For welded buil dings is cu rren tly under going an energy eff icacy audit and certificat ion’ s procedur e.