Bulgaria/Sunny Beach

[kingsway]

Dear all,
As this is my first post i will try to be as brief as possible.
Myself and three colleagues purchased a property in the Sunny beach area of Bulgaria 3 years ago purely as an investment.We had hoped to cover the annual costs of the property through rentals until,as planned,the property would be sold on in 5 years time.Although the purchase went fairly smooth,we did have a number of issues,our main concerns arose when appointing a management company.Initially we heeded the advice of the company from whom we purchased the property,UK based,and duly set up a short term contract with them to look after the property,pay bills,take on rentals etc.In our 1st full year,2006,in which we expected a reasonable return in rental revenue,family and friends aside,non materialised.We later discovered that various apartments within our complex were being rented out(on the Quiet)so to speak.These apartments were being looked after by the same MC as ours.Although we had no proof that the same had happened with our apartment,we terminated our agreement with them,changed locks and bank accounts then agreed a contract with another well known MC in the Sunny Beach area.So to this year.Expecting a better year than last,and again apart from 3 weeks of the year booked for family,no other bookings!
Two weeks ago one of my colleagues received an e-mail from a tenant who went over on spec for a weeks holiday only to find a family of Russians staying in his place without his knowledge.He too is with the MC that we are now with.Again,we have no proof that our apartment is being used but it seems we now have to start the process all over again.Not being able to monitor the situation as closely as we would like any advice or possible contacts would be greatly appreciated.

Kind Regards[/quote]
Check out PMG group down in Sunny Beach. [by Diamond Hotel]
Tell them Paul King sent you! [Laguna Apt. A15]

Ask for Zlatina or Illiana!

[Jain and Chris]

Afternoon

I myself have no personal experience with a property management company. However, I have received many emails from our readers who have told me that in their personal experience Pride BG Property Management, based in Varna are excellent. I have never received a single complaint about them to date. They may be worth a try? I don't know if they cover your area or not but you could get in touch with them and see. Again, I don't have any experience of them personally in property management but am putting them forward from recommendations I have had about them. Hope this helps?

[Salt Lake CC Developer]

I think most probably almost all the PM companies do it - letting the properties to tourists without telling the owners. I myself heard a lot of stories like these and there were some articles about such problems in Bulgarian newspapers. The company recommended by Kingsway is not different than the others according to what I heard from some British people although I haven't had any relations with them.
I have someone in mind who can do the management but will get a ban from the Moderator if I give you an advice.

[kingsway]

Originally Posted by Jain and Chris

Afternoon

I myself have no personal experience with a property management company. However, I have received many emails from our readers who have told me that in their personal experience Pride BG Property Management, based in Varna are excellent. I have never received a single complaint about them to date. They may be worth a try? I don't know if they cover your area or not but you could get in touch with them and see. Again, I don't have any experience of them personally in property management but am putting them forward from recommendations I have had about them. Hope this helps?

Dear Jain, can you recommend an Estate Agent to sell my new Apt. in Sunny Beach and Bansko? They are both fully furnished.
Kind regards, Paul.

[Mikeyv]

From what I have read on this forum All I can say is where I have bought the developer is appointing thier own management company in place due to the development being so large, I hope this makes the difference and they will not act as disgraceful as the company you are using.

This is very sad to hear and I presume a lot of people wouldn't even take this into consideration when investing off plan.