The search for a suitable rental property is often associated with difficulties and challenges that you can hardly be prepared for, especially if you try to act independently, without the mediation of an agency or broker. As a future tenant, it is quite natural to strive to find a place that not only meets your financial capabilities, but also fits into your style and lifestyle. And if it is possible to do so quickly and without paying 2-3 months of rent, in the form of broker/agency commissions, a deposit, right?
In this article, we have tried to summarize the most important steps, precautions, and alternative options without mediation if you are currently looking for or are about to look for an apartment for rent in Sofia.
The main steps to finding the perfect home:
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- Setting a budget: Before you start your search, it's important to set a realistic budget, both for the rental itself and for the long-term costs associated with it, such as maintenance, entrance fees and bills. Remember that if you work with an agent to find an apartment, you owe not only a deposit to the property owner, but also a commission to the agent, which is usually about 1 month's rent.
- Defining your requirements: Make a list of the mandatory criteria you would like the property to meet, including location, number of rooms, amenities such as electrical appliances, balcony, elevator, etc. Also mark any specific features that are important to you. Now prioritize and rank your desires and expectations to optimize the search process. Be prepared to ignore some of them, at the expense of your budget or the requirements you set in the first place.
- Researching online platforms: Use the power of online resources like rental websites, property apps, and social media groups to browse available listings that match your criteria. Filter your search based on key factors like price range and location to find relevant opportunities, or sign up for notifications when new listings are available that match your search. Also consider innovative property listing platforms other than traditional sites and brokerages, such as flatimo – the first digital agency without brokers that offers listings with an exact address, a video tour of the property, the ability to reserve viewings through an online calendar and is completely free for tenants.
- Selection and inspections: Once you have narrowed down your list to potential properties, review the relevant listings in detail again – do they provide information with the exact address of the property, a detailed description and photos presenting the condition of the property and its specific layout, or in the best case, a video tour. We advise you to choose which apartments you would like to see in person, based on the maximum detailed and high-quality information provided about them in the listing itself. This will save you time and coordination of meetings with brokers and property owners.
- Negotiations and deal making: If you are working with an intermediary, you can delegate the negotiations with the property owner in order to optimize the offer (monthly rent amount, deposit amount and/or improvements to the property to be made), as well as the preparation of all documentation (preliminary contract, handover protocol, official contract, etc.). If you were lucky enough to establish direct contact with the owner, be open in discussing the conditions and address your requirements. Direct communication between a tenant and an owner has both its advantages and disadvantages - on the one hand, you can save on brokerage commission and establish a close and strong relationship with your future landlord, but on the other hand, the lack of an intermediary can be a cause of opacity and hidden risks in negotiating the relationship. Do not forget that the contract is also your insurance, so do not neglect concluding one.
- Setting a budget: Before you start your search, it's important to set a realistic budget, both for the rental itself and for the long-term costs associated with it, such as maintenance, entrance fees and bills. Remember that if you work with an agent to find an apartment, you owe not only a deposit to the property owner, but also a commission to the agent, which is usually about 1 month's rent.
Yet – is it possible to complete all these steps without cooperating with a broker?
Brokers typically charge commissions, which can significantly increase the cost of renting a property before you've even moved in. By avoiding brokers and contacting property owners directly, you can save money and simplify the rental process by not relying on someone else to look after your interests and not being dependent on yet another person's schedule.
In addition to the methods of searching for a rental home that have already become established in recent years through personal contacts and social media profiles, as well as through communities and specialized FB groups, an entirely new model for offering properties without a broker is also developing more and more seriously, namely - a digital real estate agency. This new model is a revolution for the real estate market in Bulgaria, providing the opportunity for tenants and buyers to contact property owners directly and conclude a deal with 0% commission.
If the topic interests you, you can read more about how it works. here.
And if you are looking for an apartment to rent in Sofia without paying a commission to a broker or agency, check out real ads with an exact address, detailed photos and video, here.
