Legal Requirement:

People arriving in Hungary, Budapest and looking for long term rental apartments should know apartment prices are rising every day in Budapest. Finding an apartment with an affordable price, owner who will respect your terms and having right legal conditions can be a challenging task. To get detail information regarding the locations and exact prices for renting an apartment in the capital of Hungary, Budapest there are enough real state agencies available and it is even more convenient because they can deal with foreign people in English language.  Moreover, there are multiple Facebook groups where both private owners as well as real estate agents advertise the apartments available for rent. However, if you are foreigner it is highly recommended to go for a real estate agency which follows the legal path and is safer than dealing with private owners. This is mainly because at the immigration office, you will be asked to prove your accommodation and you will need to have the signature of your owner. Under complex circumstances, there are more than one owner of the house, and you will need to get the signatures from each one of them. This can cause problems if you are dealing with private owners since they are usually not aware of the immigration office rules, however agencies are. If you use multiple different sources to search for an apartment, it may make the whole process more complicated. Therefore, it is advised to stick to real estate agents for assistance in renting an apartment in Hungary. It is a legal requirement to deposit money to the owner at time of renting the apartment. The amount of deposit shall not exceed from three times the rent per month.

Witnesses:

One of the most important tasks for renting an apartment is to always have at least two witnesses sign the contract. The reason is to avoid fraudulent acts, as it had happened many times that a swindler pretending to be the owner collects the deposit and disappears. Therefore, to avoid such circumstances, it is always advised to have witnesses sign the contract as well.

Things you must know before making a final decision:

If you are someone, looking to avoid the real estate agency fee, it is only possible if you have any friends and family in Hungary. This way, they could assist you in looking up for apartments in your desired areas, and since they would be aware of the rules and regulations of the country, it will be safe for you to deal with a private owner and dodge the real estate agencies’ fee. Another advantage is an opportunity to find a cheaper apartment as compared to what real estate agencies offer.

For student looking for an apartment in Hungary, there are various websites available that deal with students and assist them in finding a suitable place closer to their universities. Moreover, universities in Hungary share apartments available on website forums and bulletins. International office of Universities can also assist students in renting an apartment in Hungary.

Great Forest Rentals:

For students studying in Hungary has the option to directly contact Troubleshooter, which can forward a student’s requirements to Great Forest rentals, an agency assisting students to find a suitable accommodation near their desired location. Great Forest rentals have their own website where you can contact directly, and they can further assist you in finding an accommodation in different cities of Hungary.

Inema

Inema.hu is another website which a cheaper option as compared to Great Forest rentals and can cater similar needs. The website is helping both students as well as tourist to help them find a suitable accommodation in Hungary within their budget.

Approximate Prices:

In Budapest, rent of a studio apartment is usually 125,000ft which is approximately 380 euro. Since studio apartments are usually for one person or a couple, it can be a little expensive for students. Two-bedroom apartments are around 168,000ft which is approximately 515 euro and the three-bedroom apartment can be approximately 200,000ft (615 euro). However, the prices are different in other districts of Hungary. For example, in Debrecen, you can even rent a studio flat for around 80,000ft. The reason being that Debrecen is less populated as compared to Budapest. Nevertheless, due to increasing population of international students in Debrecen, the prices for renting an apartment is rising every day. An apartment which cost 80,000ft last year is approximately 90,000ft now.

A research has shown that in the last 5-6 years the price of renting an apartment in Budapest, Hungary has doubled. Another problem arising is that the flats offered for rent have decreased from 50-99 thousand approximately.

Additional Costs:

Another very common concern for people looking for an apartment to rent is the rules and regulation regarding additional costs like the expenses of maintenance and security. Usually, in Hungary, there is a community fee which varies from place to place and the area. Community fee covers the security and cleanliness of the area you are going to rent an apartment in. As far as maintenance costs are concerned, it mainly depends on the agreement between the owner and tenants at the time of signing the contract. However, if there are any costs for repairs or damages, that shall be covered by the tenants living in the apartment.

For someone who wants to transfer money for payment of the apartment from a foreign country, compare transfer is the best application. It has different providers, like transferWise, Western Union, transfer go and many more which gives you the best exchange rates and you can easily transfer money to Hungary from all around the world.

Advantages of renting an apartment:

The information given above holds significance for tourists as well. Although, their intended period of stay may be shorter, but being familiar with the rules and regulations of renting an apartment in a foreign country is important. Moreover, if you rent an apartment while on vacations, you will have your own personal space instead of hotels and hostels. In Hungary, groups of people mostly rent an apartment as the fee is shared and it is significantly cheaper.

High season:

In Hungary, May-September is a high season and most of the apartments and hotels are fully booked. However, vacation rentals can always assist you in finding an accommodation. Some real estate agencies have special deals for tourists visiting Budapest and looking for an accommodation.

Alternative Options:

Many online websites can also assist in finding an accommodation to rent for a short period of time. For example, Airbnb and Booking.com are the most widely known websites. If you are a tourist looking for accommodation in Hungary, the websites have different options and you can choose the ones best suited for you. You can apply different filters like highest-lowest prices, lowest-highest prices, if you want it in main city Centre or other desired location.

So, if you are someone looking to rent an apartment in Hungary, you must be certain you are aware of all the rules and regulations in the country. Moreover, you need to pay attention to the location you are renting an apartment as well. Since, some families have school going children, they must consider locations closer to the schools. For some people, security is a major concern and they make sure the location they are renting an apartment in do not compromise on the security of the tenants living in the community.

Once you have worked out your demands, and the kind of apartment you are looking for, always make sure every demand is properly communicated to the owner to avoid any hassle or misunderstanding in the future and before signing a contract. Whether you are making a contract through a real estate agency, or a private owner, if you are well aware of the legal system and how it works, you would be just fine.