Renting out an apartment in Montenegro: income and management

Have you bought property in Montenegro and want it to earn you an income, even while you live in another country?

FinessKA Real Estate can arrange the letting of your apartment and the management of your property, so that you receive an income without having to deal with day-to-day matters on the spot yourself.

We take on the apartment management tasks agreed with the owner, keep track of ongoing matters, pay the utility bills and transfer the income to the owner in whatever way suits them.

Three ways to let an apartment

Long-term (annual) rental

This suits owners who value a stable and predictable income. The apartment is let for a long period and the owner receives regular monthly payments. It is important to find reliable tenants and agree the terms of occupancy and payment of utility bills in advance.

Summer short-term rental

In high season, especially in July and August, nightly rates usually reach their peak. In June and September prices are generally lower, but tourist demand remains. At the same time, you need to allow for the costs of cleaning, utilities, booking platform commissions and apartment maintenance.

Renting for several months before the tourist season

With this option the apartment is let from autumn or winter until the start of the summer season. The rent is usually lower than under an annual contract, but in summer the owner can switch to short-term letting and take advantage of the high tourist demand.

Which option should you choose?

It all depends on where the apartment is, your financial goals and how much you are prepared to be involved in looking after it.

A long-term rental provides a more stable income. Short-term letting lets you take advantage of seasonal tourist demand. And a combination of long-term and short-term rentals allows you to adapt your strategy to different times of the year.

When assessing returns, it is important to consider not only the rent in high season, but also the costs of maintaining the property, taxes and other mandatory payments. This gives you a more realistic picture of the income from your apartment.

Property management with FinessKA Real Estate

You do not have to be in Montenegro all the time for your property to earn an income.

FinessKA Real Estate can arrange the rental, handle the agreed day-to-day matters, keep costs under control and transfer the income to the owner in a convenient way. You can own property in Montenegro and earn an income from it, even if you live in another country.

If you are only planning to buy property as an investment, also read our article “Budva, Bečići, Tivat or Petrovac: where to buy an apartment by the sea”.