Real Estate in Europe Europe fenced off from us, if not the Iron Curtain, the Schengen zone. A Schengen visa allows you to stay in Europe for only a hundred days a year. And if you bought a apartment there or home - what will happen to your property in the remaining 265 days? The answer is obvious: it is necessary to contact the management company, which will monitor your accommodation while you are away. Moreover, the company can find in your home tenants, that it is not just idle, and brought you some income. Most of our savvy as newly minted investors already dreaming: what if I get there the housing in the mortgage and then renting it with a management company, to cover the mortgage payments ... However, whether or not worth it - whether the annuity amount will cover the cost of mortgages and charges the services of the very same management company? To find the answer to this question, the correspondent of the Internet magazine about real estate Metrinfo turned to foreign experts. Bulgaria: The surcharge is almost 9000 euros per year, told Angela Bakhov - Manager of the Bulgarian company "Zlatna antelope", manages apartment complexes in Bulgaria or the company-developer, or its subsidiary. The services management company, as a rule, include: - hour security housing complex - a comprehensive service for payment of utility bills - support for landscape design complex health pool, garage, cleaning the common areas as well as service: - CCTV; - TV and telephone network - water and sewer utilities; - maintenance of the complex ventilation system - power systems, elevators, air conditioners, electrical equipment in the kitchens, electrical tower clock and automatic garage door - system for heating and lighting the pool, cleaning systems, annual service fee is calculated by square footage of home . So, for a two-bedroom apartment in Varna, area of 79 square meters. meters, it is 1,100 euros. For two-bedroom apartment is a separate entrance and an area of 207 square meters. meters, this amount is estimated at 2,900 euros. Maintenance of one square meter per year will cost you 14 euros. In our opinion, it's expensive, given the rather modest list of services. After all, no maintenance, no maintenance of the plumbing and electrical equipment (valves, switches, light bulbs), the management company is not engaged. With regard to public utilities, it is usually for a flat area of 79 square meters. m. They are about 200 euros per month or 2400 euros respectively per year. Let's see if you can put into an apartment to rent in order to cover the cost of payments on a mortgage. The interest rate on mortgage loans in Bulgaria is usually 7 percent. Mortgages can be issued for a period of 5 to 20 years and a fine of 5,000 to 200 000 euros. The very flat area of 79 square meters. meters is buying 86 900 euros. Given the annual interest payment is 10 430 euros. (The bank, which operates our management company, original condition. Regardless of credit conditions, the bank is trying to standardize payments, based on the value of the apartment.) Told the sales manager of the company «Theodoros» Svetozar Panteleyev, today operating companies guarantee a 6-percent rent . And if you have to meet the same Varna kopeck piece for 86 900 euros, it will bring a little more than a year 5200 Euros. Net rental income, if we subtract 2400 euros utility bills, 1100, the euro, leaving the services of a management company, will be approximately 1700 euros per year. Sparsely. In this case, mortgage payments offset by about one-sixth. Thus, apartments for rent in Bulgaria can not be called a business. You just save the house in working order and reimburse payments management company. Rent will close the mortgage payments by about one-sixth, and the extra cost out of pocket you have 8730 euros. France: Supplement - 7000 euros a year now moved from Eastern Europe into the most that neither is the West. Let's start with France. As an example, consider a double apartment of 52 square meters worth 200 thousand euros. According to analyst «Polaris France» Henry Oliver, cost of service management company is from 6 to 15 euros per square meter per year. A common "Taxi" - 13.8 euros per square meter per year, ie almost the same as 14 euros, what we saw and the Bulgarian example. However, for these "evryi" the company provides a much greater range of services. This includes not only security and video surveillance, and maintenance of the internal infrastructure of the home. That is, if the apartment burned out light bulb or spoil the switch within one working day for you will go electric, and if the drip valve, primchitsya plumber. Thus, the maintenance of one square meter per year will cost you approximately 14 euros. A considerable fraction of the cost - about 250 euros per year - is insurance. Utility bills in France is more expensive, but the French have learned to save, and for lighting, water, etc. in our chosen apartment will cost € 1,200 per year. Now calculate how many will work and how much to pay the tenant, if you take a mortgage loan. We carry all the same simple arithmetic. You can hand over to our apartment for 700 euros a month for a year to get 8400 euros. On utility bills leave 1,200. € 1,000 - pay to the municipality as a municipal tax. 250 euros will need to pay for insurance. Well, finally, at 52 square meters of facilities management company will cost 730 euros. Total costs 3180 euros. If you do not take a mortgage loan, the net income of 5220 euros. But if it does not take a mortgage. And if you take it? Mortgages in France are much cheaper Bulgarian - 2.4 percent per annum. However, the price per square meter exceeds the Bulgarian more than three times - 3850 euros against 1100. Under the standard conditions of lending, mortgage payments a year on our apartment in the order of 12 thousand euro. Profits from the rental covers these expenses are only partially, and almost 7000 euros (6780 euros) you have to pay extra out of pocket. Do not save and treatment to low-cost management company. In this case, your profit is not 5200, and 5,500 euros. So even up to half the requested amount does not reach. Spain: the closest to the ideal supplement 2020 euros a year And finally, let's see how things work in Spain, leading analyst «Polaris Mediterranean» Miguel Rodrigo Villareal told us that the Spanish service management company are perhaps less than in the rest of Europe. Many companies are focused not on square footage, but just to residential unit. Their services are worth one euro per day or 365 euros per year. Some companies specialize in renting your house payment charge, as a rule, 15 percent of the lease. There are companies that are counting the cost of the services of square meters, but in this case, the more of these square meters, the lower the cost of a particular meter. If all the same to calculate the average figure, it turns out 0.7 euros per square meter. meter per month or 8.4 euros per square meter. meter per year. Maintenance costs of a property in Spain is much lower French. Utility bills in the 55-meter apartment, almost similar to what we saw on the Cote d'Azur, are just 180 euros in the quarter - in Spain pay quarterly rather than twice a month in France. Thus, in the year for public services we pay 720 euros. How much is the same apartments can rent? Depends on the season. Now the 55-meter apartment can take 510 euro, and in season - 2130, but the average rental price is actually 820 euros. It can be concluded and long-term contract, but then will only pass for 700-750 euros a month with a fixed payment regardless of the season. For long-term contract in 8700 will average per year. 8700 euros per year, of course, will pay all operating costs, but again not pay back the mortgage payments - mortgage rate in Spain is 4.75 per cent. Under the standard conditions of the mortgage payments on our homes a year - 10 620 euros. The amount of rental income will amount to 9900 euros per year. Subtract from her 1,300 euros in operating costs. We get 8600 euros. Although this estimate does not cover the mortgage payments, but pay extra out of pocket you will have only 2020 euros per year - a very burdensome. Please note that we believed in the "lower plate" lease payments. And we can not rule out the option that at a certain skill you can go "to zero." Summary So, the most "economical" country we have turned Spain. Of course, we considered only the major expenses the landlord. For example, ignored the property tax, some mandatory fees. Moreover, according to our scheme landlords do not go to their apartments even overseas in the period of leave that life apparently is rare. In general, the total cost of utility bills and payments for services management company range from 15 to 50 percent on income derived from rent. In the case of mortgage payments, rental income does not exceed them never last, but ranged from 16 to 85 percent of their value. Of course, these revenues significantly ease the burden of the mortgage, and, therefore, to take an apartment for rent to cover part of the mortgage payments it is worth. In our opinion a good thing these people do 35-40. To 15 years to have his bath in a warm place.
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