How does real estate rental in Budapest work ? (FAQ)
Updated: May 4, 2021
What is the procedure for signing a contract? What documents am I asked for?
If you have visited an apartment that suits you and would like to rent it, all you need to do is email us a copy of your ID card or passport and fill out an application form. Each person wishing to occupy the apartment must send these documents.
There are several tenants who want to rent the same apartment, how does it work?
You have the possibility of renting accommodation together. To do this, all you have to do is send your application. If accepted, each of you will be entered into the rental agreement.
Are there any fees to pay for the start of the rental?
For setting up a rental, no agency fees are required. You will only have to pay the rent, as well as the charges related to the operation of the accommodation.
What is the amount of the security deposit? What is its use? When should it be paid and when is it returned to me?
The security deposit is an amount paid upon signing the rental agreement. It corresponds to twice the amount of the rent excluding housing charges. It protects the owner from possible deterioration of the accommodation, including its furniture and its equipment and compliance with the rules defined in the contract. It is returned within a maximum of two months following the departure of the tenant, in full or in part if it is to be used.
How is the rental period fixed?
The duration of a rental contract can be either fixed or indefinite.
The duration is set freely in agreement with the owner.
In the case of a fixed period, you must respect the period defined in the rental agreement. In case of non-compliance, you risk losing the security deposit.
In the case of an indefinite period, it is customary to insert a clause allowing the amount of the rent to be reassessed after a certain period of occupation. There is also a time limit from the start of the rental (usually 6 months) in which the security deposit will be retained in the event of the tenant leaving.
How do I pay my rent? (When, what currency, where ...?)
The rent for your apartment is payable at the beginning of each month (the 5th at the latest). Payment must be made all at once and correspond to the amount indicated in your rental contract (payment of rent and charges). It should be done on the Story's management account and in Forint. For this, you don't need to have a local bank account if you don't have one. Several tools allow you to transfer money in different currencies at a very low cost. Story's recommends using Transferwise.
If there are several tenants paying for a single apartment, you will need to organize yourself to make a single payment to Story's at the beginning of each month for the rent payment.
How are the charges paid?
Each month, you pay an amount corresponding to the rent as well as an amount corresponding to the tenant charges (like electricity, water…). This second amount is a fixed amount and makes it possible to provision and anticipate the payment of tenant charges. This type of charge corresponds to the charges payable by the tenant, namely the consumption of water, electricity, gas, internet, condominium ... As these charges depend on your consumption, at the end of the year we record the amount that you paid compared to the amount actually owed. If the amount you have paid is greater than your consumption, we will refund the difference to you and otherwise we will ask you for an adjustment to pay the amount still due.
I live with a roommate and I want to leave but they don’t?
The vast majority of the apartments that we offer for rent are rented as a whole. In other words, we do not rent room by room. In the event that there are several tenants and one of you wishes to leave before the others, you have the possibility of finding someone else to replace them and to make a free modification of the rental contract. If you cannot find anyone or if you do not wish to occupy the vacant room, the rent will still be due and will not be lowered. All persons listed on the rental contract are held responsible for paying the rent.
In the rare case of a room rental, each tenant is responsible for paying the rent corresponding only to the room they occupy.
I am one of the roommates and wish to leave. I have found another person to replace me. How should I proceed? And what are the formalities for the security deposit?
In this case, all you have to do is notify us of the change of tenant by sending us the application file and the copy of the passport of the new tenant. We will make the modification on the rental agreement. For the security deposit, the new tenant must pay his share directly to the outgoing tenant.
Can I rent an apartment if I have a pet? (Pet Deposit)
Owners are generally wary of pets. They increase the risk of deterioration of furniture and can cause disruption to the neighborhood. We have nevertheless set up a system allowing you to have a pet, thanks to the PET DEPOSIT. The pet deposit is an amount corresponding to one month's rent paid as a security deposit in addition to the initial security deposit and to protect against any damage that your pet could possibly cause. Under no circumstances can this amount be used for anything else. Without finding any damage on your departure, the amount of the security deposit will be returned to you.
Things need to be fixed. Who pays?
Occupying an apartment causes wear and tear on some equipment and there may also be items that need to be repaired over time. Some of these costs are the responsibility of the landlord and others for the tenant. To know the list of the elements at your expense contact Storys.
What if I want to leave before the end of the lease?
You can leave at any time from your accommodation. If you wish to leave, you must keep us informed in writing (email or letter) specifying your date of departure. If you decide to leave before the end of the date set, the agency and the owner may keep your damage deposit for damage and interest in accordance with what is defined in the rental agreement.
Is it possible to stay longer than the deadline written on the contract?
You can absolutely stay longer than the deadline specified in the contract. To do this, you must notify Story's at least one month before the end of the rental. You must offer us an additional rental period with a defined or undefined future date. If the owner accepts the extension, we will prepare a new rental contract for you.
After several months of occupation, I would like to ask for additional furniture or items for the apartment. Who pays?
Depending on your type of rental, if the apartment is not furnished and equipped, furniture or comfort equipment will be at your expense. For the furnished and equipped rented apartments, we make sure that all the apartments are equipped with the necessary items so that all the elements of comfort are present. If you notice that something is missing, write to us an email and we will do what is necessary to provide you with the equipment. However, the owner is not obligated to meet the demand.
Is the apartment insured?
The apartment is insured by the owner. In the event of a claim that is not caused by you, the owner's insurance will cover the necessary repairs or compensation.
At the end of the lease, how is the exit inventory organized?
Before the end of your rental, you will need to make an appointment with Story's for the exit inventory. It is at this moment that we will note the state of the apartment and that we will proceed to the reading of the water, electricity, gas meters ...