Ski apartments
Beach apartments
City apartments
Villas and Rural houses
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Restaurants & Bars
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Other properties

Management & Letting
Letting Only
Management & Maintenance
Maintenance of Communal Areas
Cleaning & Laundry
Accountancy & Tax Return
Snag Lists

Transportation
Insurance
Furnishing
Refurbishment
Repairs

Ski apartments (95%)
Beach Apartments (5%)
Sofia apartments (51%)

* Managing 1041 properties so far.

The management and running of a restaurant/cafe business is a serious commitment for us and we have spent a lot of time and effort to create an efficient and effective Catering Department within our company.
The restaurant business can be hard, but if done properly can be very profitable and usually the investment will pay dividends twice as fast than other property investments. The capital growth is higher too due to the high demand for such commercial properties. We recommend buying in a popular ski or beach resort where there will always be a higher number of clientele and subsequently, the profits will be higher (due to the higher prices paid by the tourists). Another tip is to buy in a well developed apartment complex or hotel, where the guests/tourists staying will eat most of the time. This is guaranteed clientele, because the high standards in the travel industry today, require that a breakfast (and also dinner in the ski and beach resorts) should be provided together with the accommodation. Asides from these clients, you will also have business serving visitors from outside if your bar or restaurant is well advertised.

We at Property Management BG are able to run small and middle size bars, restaurants and cafeterias in all parts of Bulgaria where we have activities. We will rent the premises from the owner, fully furnished and operational. We also require sufficient quantities of initial stock to be provided (only for the start of the business). We are able to fully assist with and obtain on the owner's behalf, all licenses, categorisation papers, etc that are necessary for the operation, as required by the law. Once the required condition of the property is achieved, we will rent it from the owner and start running it with our staff and managers. We will pay a monthly rental which is usually 80% of the profit (after tax) generated. In other words, we keep 20% of the profit. This sort of arrangement reqires full transparency of our business activities and we will, of course, grant the owner full access to the cash register, the accountnacy books and cashflows, staff payrolls, etc. We can even go further and give to the owner 24h video access over the Internet to the premises of the bar/restaurant. We will provide full monthly reports and other relevant documentation regulating the financial relations between us and the owner. We will pay the monthly rental by bank transfer into the owners Bulgarian or foreign bank account. Please note that your rental income is subject to taxation under the regulations of the Bulgarian law (read details below).

• Specific requirements for a bar/restaurant to be accepted for management (we can assist with all necessary arrangements and organisation):
  • Fully furnished and equipped for the purpose.
  • Fully licensed.
  • Initially fully stocked (only for the start of the business).
  • We only accept for management bars/restaurants that have been purchased with BulgarianProperties (www.BulgarianProperties.com)
  
  
• Taxation of the rental income:
  • If you own the property as a physical person: You will pay tax of 15% on the gross rental income received. We collect and pay this on your behalf. No annual tax return forms or accountnancy books are required.
  • If you own the property through your company registered in Bulgaria: You will pay profit tax on yearly basis set to 15% on the net profit (all expenses of your company will be offset against the income). If your company turns over more than 50,000 Levs (approx. 26,650 Euros) per year it will be VAT registered and another 20% VAT will be charged from your montlhy rental income. You will be required to hire a qualified accountant to run your company finances and to submit your annual tax return form to the local tax office.

For more information and arrangements, please contact us.