Management of Offices and Shops

See the objects we manage in our country

 Office and shop management is a serious business that Property Management is engaged with from its very beginning. This is one of the different varieties in business property management for which our company has a staff of specifically trained and qualified officials. 
Property Management Ltd. recommends investors who have decided to invest funds in properties on the territory of Republic of Bulgaria, to seriously consider the possibility to acquire premises – on ground floors or in good regions and business buildings alongside our Black Sea coast, in the developed ski resorts or in the big cities. This is long-term investment with rapid return of funds and low percentage of risk, because of the well developed service market in Bulgaria, the tourist flow during the summer and winter seasons, as well as because of the opportunity of letting such properties all year round and signing contracts with local prosperous agencies.
There are some specifications in performing these activities, although the premises to be used may have similar indices.

In office and shop management, Property Management Ltd. has the following requirements:
1. The premises must have ownership documents in perfect order.
2. The area must not be less than 50sq.m. and/or the premises must be situated in a region attractive for letting purposes – in a sea or ski resort, in one of the big cities, in that in the business areas of these cities.
3. The premises must correspond to the specific requirements imposed by the relevant instances for acquiring the necessary licenses, as well as meet convenience and comfort criteria.
4. If the premises do not comply with these requirements, Property Management Ltd. can bring them into the desirable state upon request and at the expense of their owner, and eventually undertakes their management.
The specific requirements for managing office and shop premises are different depending on their location, number of floors, premises height, number of entrance doors, availability of bathrooms and toilets, etc. and also depending on the activity for which they will be rented.

Property Management Ltd. can:
1. Rent the premises from their owner fully furnished and equipped, or turn it into a condition suitable for its immediate exploitation upon request and at the expense of this owner. We recommend using the services of www.Thebestfurnish.com which is a leading agency in furnishing properties, commercial and administrative objects and restaurants.
2. Co-operate for the delivery and keep all documents of exploitation, licenses and categorizations necessary for the legal functioning of the premises if necessary.
3. Sign long-term or short-term contracts with tenants considering the owner's requirements.  
4. Take care of minor repairs, payment of utility bills, payment of taxes, handling small damages, according to the contract which was signed with the owners of such properties, as the company is obliged to supply monthly reports about the activity performed.

YOU SHOULD NOTE THAT:

-Your rental income is a subject of taxation according to the Bulgarian legislation.
-If you have acquired the property as a physical person, you owe to the state a tax to the amount of 15% from your rental income.
-If you have acquired the property through a limited company registered on the territory of our country, you owe to the state a tax to the amount of 15% from the net income of this company, according to the type of activity it performs. If its turnover surpasses the amount of 50 000 BGN /or about 26 000 EUR/, it must accordingly be registered according to VAT, which presupposes another 20% tax from your company monthly income, as well as hiring a specialist to take care of the specific company documentation.
Property Management Ltd. can tale care of all these details for you.
You can rely on us both for professional management of all types of properties, and for advice and co-operation with regard to taking decisions related to this kind of property management.