Property Management Services

According to the Civil Code, the landlord is responsible for looking after, using and maintaining the purchased real estate. Certain of these rules and regulations are the same for all landlords who own property and get the same level of protection under the law.

There are basic obligations that are imposed upon all landlords – regardless of how they own the property i.e. regardless of whether they own it as a private individual or as a legal entity.

We would draw to attention some of the more relevant regulations such as:

The Building Code regulations deal with the building permission, changes to the construction of the building and maintenance work. It stipulates that the property can only be used in accordance with the use as specified in the habitualisation certificate. The landlord is obliged to maintain the building in a good condition.

Other responsibilities of the landlord include the keeping of books and records for accounting purposes showing any income and expenses. The accounting information forms the basis for the preparation of various tax declarations (that can include, for instance, an income tax return, real estate tax, transfer tax, gifts tax and so on).

As you can see, it is not sufficient just to own the property but also to ensure full compliance with the various rules and regulations governing the management of the property. You can of course take care of this yourself, if you are already living in Prague. However if you have bought a property purely for investment purposes and are not regularly visiting Prague, then it is sensible to hand over the management of the property to experienced professionals that can do this for you.

Essentially good property management helps to maximize the value of the client´s property.

The key to ensuring proper compliance with the relevant regulations is for the owner or property manager to keep proper records. We would recommend that the records include:

In summary, the range of property management services can vary depending upon the agreed scope of work, but my include the following:

If you are in the process of buying an apartment or residential building or have already bought one and wish to have it let out, then please feel free to contact us to see how we can help you to ensure full compliance with the various rules and regulations, and to help you fully manage the property in your absence.