One of the most lucrative and popular businesses in Serbia is renting real estate. Those who are lucky enough to own real estate in popular and sought-after destinations or parts of the city, can expect very decent monthly earnings, without much trouble. The real estate market is expanding more and more, and the prices per square meter, as well as the prices for renting apartments and flats, are unrealistically high. That is why many see their chance in renting apartments and flats.
However, the situation is not so bright, so you will have to go through state procedures and report your income, regardless of whether you are a natural person or a legal entity that deals professionally with renting, such as real estate agencies.
We all need a good accountant, who will give us the right advice, so that you can be calm and pay your obligations on time and avoid additional costs and fees.
True, many of them are engaged in renting apartments illegally, and renting an apartment is becoming more and more popular. Although there are popular sites for this purpose, you still need to adjust your business to the legal regulations, in order to avoid penalties and inspections.
You need a good accountant for legal business
If you still do not have your own accountant, it is necessary to ask which accounting agencies are good. It is desirable that the bookkeeping agency is nearby, so it is useful if you type "Bookkeeping agencies Belgrade" in the search engine or specify your part of the city, so that you get the best offer of bookkeeping agencies, from which you can choose the best.
Namely, reporting income is mandatory regardless of whether you earn as a natural or legal person.
It is important to consult bookkeeping agencies in any case. They will give you the best advice on how to do your best, while doing the right thing and according to the law.
In the last couple of years, renting an apartment for a day, the so-called short-term rental apartments. Many agencies and individuals have realized that the price for one night or weekend is much higher per day than when the monthly fee for renting apartments is calculated, which is a common practice.
What to do if you are an individual and want to rent an apartment?
If you are an individual and have an attractive property in a good location, which you want to rent for a day or a weekend and thus collect twice the amount than if you rented an apartment on a monthly basis, the first thing you need to do is categorize accommodation.
If you want to deal with this business in a legal way, categorization of accommodation, you will need to obtain a certified power of attorney from the owner of the apartment. If you are the owner of the apartment, this procedure should not be complicated, and all the information and obligations you have will be advised by the bookkeeping agency to which you have placed your trust.
If you do the categorization of accommodation, it is not necessary to register a company and register an activity, but you perform the categorization as a natural person.
When you get all the necessary papers, you get a decision on the categorization of accommodation. As an individual, you cannot issue fiscal invoices, so you need to choose a company or agency through which you will make the payment.
The company you are cooperating with has the obligation to pay taxes and sojourn tax and issue an invoice instead of you.
You take the contract that you have concluded with the company or agency to the city administration for economy, so that they can keep you in the records.
This completes the procedures and you can now do business legally. All you have to do is keep a guest list and greet and see off guests.
For all future news in this field, you can consult with your bookkeeper, who will report to you regularly and answer your questions. Laws are constantly changing and sometimes we are not inadvertently up to date with new rules and obligations, so we can pay a hefty fine, so if we want to avoid that, we have to inquire well.
If you are an agency that specializes in the sale and rental of apartments, suites or business premises, you are subject to slightly more serious laws and obligations, which you must settle if you want to do business legally. In order to be able to visit your business, leave the legal obligations and regulations to your bookkeeping agency, which will inform you about all changes in time.
You can earn a nice amount and still do business legally, so inquire about all the conditions, if you are new to this market and do not allow yourself to remain uninformed. This is good for you and your business, in order to avoid the most common traps and not to fall into financial losses.
