Just to let you know that I will be using MRI to rent out in Aspen Golf, their first development in Bansko, Bulgaria. I believe the rental procedure is similar with MRI regardless of the country. They have just set up an internet booking system that interested parties such as holiday companies or the general public can book through, their web site is www.mrivillasandapartments.com The web site is still in its infancy but should be fully operational shortly .They will charge a fee of around 8% for running the booking system, whoever books the apartment will get a further 10% ( such as the holiday company). There will also be cleaning fees and laundry fees on top of this.
If you're a member of the aftersales club there will be no additional short term management rental charges, so in total I calcalate it should cost around 25% - 30% of the gross rental income. The development is just about to be completed, so I have not had the apartment rented yet, but it should not be long.
As far as the furniture package is concerned I purchased my furniture package through MRI, the main reason for this was simplicity, just dealing with the same company, also their package appears to be quite extensive and they will fit it for no extra charge. At any rate I had a chat with someone from MRI rentals who appeared to be genuine enough, and he said as best I can recollect, some thing to the following effect on furniture package which I found quite persuasive :
1 The apartments and their contents have to pass certain safety regulations and what they supply has passed these regulations. Anyone elses has to be checked and this takes time and there are costs involved. The large holiday companies that use the apartments will also insist on this.
2 The furniture and fittings that they supply are chosen for their durability for the short term market as well as for the way they look.
3 Everyone having basically the same furniture and fittings will make checking the contents of the apartment easier after the holiday makers have departed.
4 If there are any breakages, replacement will be easier as there will be a stock kept of items they supply (or replacement due to wear and tear).
5 When marketing the apartments they may show a picture of the apartment, it will be similar to the apartment they book.
The reasons they give for standardisation seem reasonable enough if you want to rent to the short term holiday maker, if you basically want to keep the apartment for your own use that’s another story.
I believe the aftersales fee is worthwhile if you decide to let MRI rent out your apartment ( no short term management fees) and supply your furniture package ( they will fit it for no extra cost) otherwise it is debateable.
This message was last edited by kev2 on 11/15/2007.This message was last edited by kev2 on 11/16/2007.