In Bulgaria you almost always have to pay the broker
Agency takes a cut – usually between 50 and 100% of 1 month’s rent, so 504 out of 600 makes no sense.
Owner takes anywhere between 1-3 months rent as a security deposit, so going off of “600/mo” – 1600 also makes no sense (266%??).
Typically owner and renter split 50/50, one rent worth for the commission to the broker. Afterwards you pay one month rent to the owner as security deposit and one month rent for the first month before you move in. If they ask you to pay more than negotiated rent X2.5 before they give you the keys, chances are they are scamming you.
If rent is 600, then everything above 1500 to get the keys is a scam.
The numbers are weird, but not that high.
To the landlord you pay first month and 1month deposit, but some landlords want 2 months. This one has decided to make it an even 1000eur, instead of 1200 for two months. The agency takes 50%-75% of one months rent. This one wants 70%, which is 420eur, but they have charge the VAT onto that which comes to exactly 504eur.
Could have been slightly cheaper, but I guess you get all the official paperwork and invoices to account for all of that.
The whole country is a scam
Find a Bulgarian friend and have them read the contract before you sign anything and !!! Do Not Rent !!! without a contract.
They need to sign a contract with you where all these sums are clearly explained. Usually it will be 1 month rent + 1 month deposit to the landlord and whatever the agent will charge. The agent usually charges 1 month rent split 50/50 to the tenant and landlord. But make sure you get everything in writing with the landlord in the form of a contract. You don’t want to pay a “deposit” and then for the landlord to say it was money for some other thing and that you aren’t entitled to have it back.
Too much. Find another broker.
The real estate agent gets a month’s rent – from you and the landlord. Separately.
9 comments
In Bulgaria you almost always have to pay the broker
Agency takes a cut – usually between 50 and 100% of 1 month’s rent, so 504 out of 600 makes no sense.
Owner takes anywhere between 1-3 months rent as a security deposit, so going off of “600/mo” – 1600 also makes no sense (266%??).
Typically owner and renter split 50/50, one rent worth for the commission to the broker. Afterwards you pay one month rent to the owner as security deposit and one month rent for the first month before you move in. If they ask you to pay more than negotiated rent X2.5 before they give you the keys, chances are they are scamming you.
If rent is 600, then everything above 1500 to get the keys is a scam.
The numbers are weird, but not that high.
To the landlord you pay first month and 1month deposit, but some landlords want 2 months. This one has decided to make it an even 1000eur, instead of 1200 for two months. The agency takes 50%-75% of one months rent. This one wants 70%, which is 420eur, but they have charge the VAT onto that which comes to exactly 504eur.
Could have been slightly cheaper, but I guess you get all the official paperwork and invoices to account for all of that.
The whole country is a scam
Find a Bulgarian friend and have them read the contract before you sign anything and !!! Do Not Rent !!! without a contract.
They need to sign a contract with you where all these sums are clearly explained. Usually it will be 1 month rent + 1 month deposit to the landlord and whatever the agent will charge. The agent usually charges 1 month rent split 50/50 to the tenant and landlord. But make sure you get everything in writing with the landlord in the form of a contract. You don’t want to pay a “deposit” and then for the landlord to say it was money for some other thing and that you aren’t entitled to have it back.
Too much. Find another broker.
The real estate agent gets a month’s rent – from you and the landlord. Separately.