Airbnb investment regulations in Budapest
Over recent years, as Airbnb investment has been the focus of countless investors looking to purchase buy-to-let properties in Budapest and to maximize their profit, property prices soared. With the Short-term renting booming in the inner districts of Budapest, change to regulations have been frequent. Below is an up-to-date summary of the must-know Airbnb investment regulations in the different districts in Budapest:
Buy-to-Let investment requirements and regulations (2019)
- The size of the bedrooms must be minimum 8 sqm if it’s equipped for a single tenant. For two or three tenants, the bedroom must have a minimum size of 12 sqm, and for 4 persons in a room, the bedroom must be minimum 16 sqm. Notice that a maximum of 4 beds are allowed per room
- The number of bedrooms is limited to eight, the number of beds up to sixteen per apartment
- The host or its agent must be available for the tenants at all times
- Guest rooms must be cleaned once a week at the same time as bed linen and towel change and in all cases before new guests arrive
- The owner must apply to register the property with the municipality for short-term usages. The cost of the application is around HUF 3000.
Submitting a request to the municipality for an airbnb rental unit
The local authority, based on the corresponding district, will require the following information:
- The contact details of the landlord
- The tax number and statistical number of the landlord
- The details of the property (address, land registry number, size, proof of ownership)
- Drawing of the property
- The signed permit from the common representative of the house that the property can be used for short term rentals
It’s important to notice that the common representative assembly of the house, where the property is located, has the power to consent or deny a request to run a property as an airbnb investment.
The consent can be one of the forms: Either there’s an already existing general consent by the house assembly that all properties in the building can be used as airbnb investment flats, or – there is no prior consent, in which case, the landlord must request a general assembly of the house common representatives, and the assembly votes on the request. In order for the motion to pass, a majority of 51% of votes required.
Once the permit from the house assembly is official, then the owner of the property may submit the activity for official registration at the local municipality.