Got Questions? We've Got Answers!
How does our long-term rental model work? Do I need to commit in advance for the entire rental period? Are there additional costs beyond the rent? Who is responsible for the maintenance of the residential complex and what happens when the lease period ends?
Here are the questions people frequently ask, along with the answers that will help you feel confident in making your decision.
How does our long-term rental model work?
Ashtrom Residences for Rent provides a smart and innovative long-term rental solution, featuring fixed rent adjusted only to the index, with no brokerage fees. In our projects, you can rent an apartment for up to 10 years, with the flexibility to leave at the end of each year—or even mid-year in some cases.
What are the guarantees required for renting an apartment in the project?
Similar to a standard rental agreement, a bank guarantee or cash deposit equivalent to two months' rent and management fees is required, along with a promissory note signed by guarantors.
Who is responsible for the maintenance of the residential complex?
We provide attentive management around the clock, ensuring a fast and professional response to any maintenance issues in your apartment, the building, and the surrounding green areas. Our tenant portal allows you to easily open service requests, stay updated on progress, and perform various actions efficiently and conveniently.
What facilities and public spaces are offered in the project?
Ashtrom Residences for Rent provides a unique community experience, offering access to a range of shared facilities for sports, culture, and leisure, including a gym, tenants' club, and more.
Are there additional costs beyond the monthly rent fee?
As with any lease agreement, the tenant is responsible for covering ongoing costs such as property tax, electricity, water, and gas, in addition to the monthly management fees.
Do I need to commit in advance for the entire rental period?
In our projects, you can rent an apartment for up to 10 years. The initial lease is for 5 years, with the tenant having the exclusive option to extend the agreement for an additional 5 years. Tenants may provide 60 days' notice before the end of each rental year to terminate the agreement at the end of that year or on a chosen date during the following year.
Is it possible to terminate the lease before the end of the commitment period?
No, the project is specifically designed for long-term rental purposes.
How are the rent and monthly management fees linked to the index?
The lease agreement spans 5 years, with an option for the tenant to extend it for an additional 5 years. Rent and management fees are set on the day the agreement is signed, paid monthly, and adjusted annually according to the consumer price index. After the initial 5-year period, rent fees may increase by an additional 5% beyond the indexation to the consumer price index.
Is it possible to purchase the apartment at some point?
Yes, after 20 years, all the apartments will be offered for sale on the free market.