Bulgarian Tenancy Agreement


Under Bulgarian law, the rental agreement cannot be signed for more than 10 years, unless it is a commercial transaction. The real estate lease agreement is an informal contractual agreement under debt law. It may have movable and immovable property as its object. One of the most frequently asked questions regarding the validity of rental contracts in Bulgaria and their compliance with Bulgarian legislation is whether or not they should be signed before a notary (verified by a notary public). In most cases, the law does not require a notary form for a lease to be considered valid. In fact, even an oral agreement under Bulgarian law is acceptable. However, the simple form of writing is preferred, as it is easier to prove and protects the rights of both parties. Verification of signatures by a notary public is recommended in the case of a commercial lease or in the case of renting large premises at a higher value, as this offers greater legal protection to both the owner and the tenant, for example.B. each of the parties may receive a notice of execution against the defaulting party for damages and loss of profits. The freedom to increase rents depends on the initial agreement between the parties and the usual situation for long-term leases is to have a provision that the landlord can increase the rent once a year based on changes in the inflation index for the period.

It goes without saying that the parties are free to set different options and deadlines for the review of the rent. Have you just moved to Bulgaria or are you planning to do so? I think the search for housing has already started for you. If you want to rent an apartment in Bulgaria, there are (at least) 10 things you need to know or do before and if you sign the lease. As a rule, rental contracts are concluded in Bulgaria for a period of one year. There are several reasons for this. First, at the end of the agreed term, this gives the possibility to renegotiate the clauses (e.g. Β adjustment of the price to current market conditions). In addition to the above-mentioned consideration, the contract with a maximum duration of one year avoids another legal requirement. Rental contracts concluded in Bulgaria for a period of more than one year must be registered in the cadastre of the Bulgarian Register Agency. Registration may be carried out by any of the parties or by an authorized lawyer. However, the procedure is not very simple, a number of documents are required, and the contract itself must be available in a notarized form, which entails additional costs for both parties. On the other hand, registering the contract is a great tool to protect the tenant`s rights and it is in the tenant`s best interest to register the lease despite the additional costs that come with it…