Property Management Services

Rules and regulations for private landlords

Expats.cz

Written by Expats.cz
Published on 03.10.2006 11:09 (updated on 03.10.2006)

Written by Boban Stamenkovic
of www.etherconsulting.cz
 


According to the Civil Code, the landlord is responsible for looking after, using and maintaining the purchased real estate. Certain of these rules and regulations are the same for all landlords who own property and get the same level of protection under the law.

There are basic obligations that are imposed upon all landlords – regardless of how they own the property i.e. regardless of whether they own it as a private individual or as a legal entity.

We would draw to attention some of the more relevant regulations such as:

· Civil Code regulations – Renting Out of Property
 
If you let out the property, you are obligated to hand over the property to the tenant in a condition that is liveable in. You are obligated to remove any defects in the apartment that make it impossible for the apartment to be used. In practice this means that you need to regularly inspect the property, keep the apartment in good repair and condition, and so on.

· Building Code regulations

The Building Code regulations deal with the building permission, changes to the construction of the building and maintenance work. It stipulates that the property can only be used in accordance with the use as specified in the habitualisation certificate. The landlord is obliged to maintain the building in a good condition.

· Other Duties Imposed by Other Regulations

Other responsibilities of the landlord include the keeping of books and records for accounting purposes showing any income and expenses. The accounting information forms the basis for the preparation of various tax declarations (that can include, for instance, an income tax return, real estate tax, transfer tax, gifts tax and so on).

As you can see, it is not sufficient just to own the property but also to ensure full compliance with the various rules and regulations governing the management of the property. You can of course take care of this yourself, if you are already living in Prague. However if you have bought a property purely for investment purposes and are not regularly visiting Prague, then it is sensible to hand over the management of the property to experienced professionals that can do this for you.

Essentially good property management helps to maximize the value of the client´s property.

AGENCY PROPERTIES

Apartment for rent, 1+1 - Studio, 34m<sup>2</sup>

Apartment for rent, 1+1 - Studio, 34m2

Gallašova, Brno - Štýřice

Office for rent, 150m<sup>2</sup>

Office for rent, 150m2

Hráského, Praha 4 - Chodov

Apartment for rent, 2+kk - 1 bedroom, 49m<sup>2</sup>

Apartment for rent, 2+kk - 1 bedroom, 49m2

Domažlická, Praha 3 - Žižkov

Office for rent, 115m<sup>2</sup>

Office for rent, 115m2

Hráského, Praha 4 - Chodov

The key to ensuring proper compliance with the relevant regulations is for the owner or property manager to keep proper records. We would recommend that the records include:

·  Protocol document covering the handing over of the property from the seller to the buyer.
·  List of all the documents relating to the property.
·  List of all meter readings at the time of hand-over.

In summary, the range of property management services can vary depending upon the agreed scope of work, but my include the following:

·  Preventive and routine maintenance.
·  Maintaining records on the building as well as the individual apartments.
·  Administrative services.
·  Budgeting and controlling the running costs incurred to maintain the building.
·  Periodic reporting to the owner.
·  Leasing services and marketing of the available spaces/units to be let.
·  Looking after tenant´s needs – through a personalised approach
·  Securing the entrance to the building – by using security guards/a reception.

If you are in the process of buying an apartment or residential building or have already bought one and wish to have it let out, then please feel free to contact us to see how we can help you to ensure full compliance with the various rules and regulations, and to help you fully manage the property in your absence.



ETHER Consulting s.r.o. is an
independent company that was established with the sole objective of providing a
one-stop service aimed at small and medium sized companies as well as
individuals interested in either establishing a business presence or acquiring
real estate in the CzechRepublic. We can also assist foreign
direct investment
clients in the search for local business partners as well
as provide other services relevant in any acquisition or joint-venture deal
depending on your financing requirements.

 

For further
information, please refer to our web site on www.etherconsulting.cz or contact Mr Boban Stamenkovic on
+420 222 314 101, or send an email to stamenkovic@etherconsulting.cz. We would be only too pleased to
hear from you.