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APARTMENTS FOR SALE
When you buy an apartment in Monaco, the acquisition fees are as follows :
- The registration fees and notary's fees are 9% of the selling price.
- The estate agent's fees are 3% + VAT of the selling price.
- A deposit of 10% of the selling price is paid in order to reserve the apartment.
The balance, as well as the above-mentioned fees, is paid by the buyer when he signs the bill of sale before a Notary established in the Principality.
APARTMENTS FOR RENT
When you rent an apartment in Monaco, the rental charges are as follows :
- 3 months' rent (payable quarterly in advance).
- 3 months' provision for charges (payable quarterly in advance).
- Deposit of 3 months' rent.
- Registration of the lease (1% of the amount of the first years' rent + charges).
The estate agent's fees are 10% of the amount of the first years' rent.
In general, the duration of a lease is 1 year minimum and 3 years maximum.
MANAGEMENT
Management of your apartment amounts to the following :
- Collection of the rent.
- Payment on the due date of the rent collected.
- Monitoring of files concerning repairs and the apartment's upkeep.
- Attendance at the Co-owners' General Meetings.
- Search for new tenants.
The estate agent's fees are 5% of the rent collected + VAT.
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