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I'm very shortly about to complete on a Romanian property that I'm purchasing in Baie Mare, Western Romania, which I'm intending to rent out.

The likelihood is that I will ask the developer I purchased through, to manage the property rental, however currently, they do not have experience of doing so, as whilst they are a very successful business entity within Romania, it's their first property development. 

Does anyone have a suitable rental agreement that I could use, for this purpose ? 

Neale Bryant 

Hello Neale,

Probably, your solicitor can help you make a suitable lease agreement in accordance with Romanian civil law.

Bilingual agreement needed with tenant and managing agent (English and Romanian at least but native Hungarians live in this area who might prefer Hungarian to Romanian; the town has also a Hungarian name called Nagybanya). I suggest you have an adequate knowledge about rental terms and conditions in Romania before letting the apartment:

- tenant's rights and obligations (how to pay rent and utilities), home owner's rights and obligations, (what happens if tenant does not pay rent and utilities)

- definite time period rental (fixed period, 1 year lease for instance) and consequences when it is terminated before date of expiration

- indefinite time period rental (notice period, right to terminate, etc.)

- assurances in terms of financial security (security deposit) and legal security (right to terminate the lease and put tenant out of the situation when it is necessary)

- screening tenants by managing and letting agent would be also recommended to avoid unpleasent happenings and fast wear and tear

I am sure, take a legal advice first and then you can start renting there.

Regards,

DR

Thanks DR.

Can you advise on what the standard margin or fee is, that you would expect to a rental management Company in Romania to charge, for managing the rental of a property in Romania, including finding a tenant ? 

Many thanks,

Neale 

I am afraid, no idea of letting and management service standards and charges in Romania. Probably, solictior might help you with this respect.

My suggestion is to build up a good relationship with a solicitor if you do not have market experience. S/he would orientate you to the rigth direction and you would have a good contact person in the country.

Best of luck

DR