Rent property in Georgia

Rent property Georgia

Many foreigners who travel to Georgia for different purposes such as starting a business, studying, organizational missions or immigrating with the aim of long-term living are looking for property rental in Georgia . This is a very important point that according to the law of this country, foreigners can easily and in the shortest time rent a property in Georgia or mortgage a property in Georgia without having a residence in Georgia. It can be said that the process of renting a property in this country is very simple and the only important point in this matter is to try to choose a reliable and professional real estate agent so that you can make the best choice at the most appropriate cost .

Rent property Georgia

Renting a property in Georgia is cheap compared to many other countries, and if we want to let you know the average prices for renting residential apartments in Tbilisi (the capital of Georgia), considering the difference in quality and facilities for a one-bedroom apartment in good urban areas can be priced between $500 and $1,000 per month (depending on the quality and facilities of the building) and two-bedroom apartments between $600 and $1,500 (depending on the quality and facilities of the building). You need to know that residential apartments in this country are rented with all equipment and furnished. The custom of paying rent in Georgia is that the tenant must pay the first month's rent and the last month's rent to the owner at the time of signing the contract and then pay the rent for each month at the beginning of each month. Of course, some property owners keep an amount equal to one month's rent with them to guarantee the quality of home furnishings and return it to the tenant at the end of the contract period. Generally, the property rental period in Georgia is one year, but with negotiation, there is also the possibility of concluding shorter or longer term contracts. Contracts are generally regulated internally, and if a person wishes to register a lease at the Public Utilities Office, he can do so and pay 5% of the monthly rent as a tax. Of course, our suggestion to foreigners has always been to try to use real estate consultant companies because they can adjust their contract more easily and another main reason for using a real estate consultant is that the tenant does not have to pay any fees to the real estate consultant. The property does not pay for rent and the payment of the fee is the responsibility of the owner or so called lessor. SisnoGroup consultants are ready to provide you with free advice on property rental in Georgia.

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Property mortgage in Georgia

Real estate mortgage in Georgia is done in two ways:
- The first case: The mortgagor does not use the property, in which case the owner receives a payment, and for receiving that amount, he pays a certain interest on a monthly basis to the person who paid him in exchange for taking the property deed as a mortgage. In general, this cannot be called a mortgage, and this is basically a kind of borrowing money along with paying interest by guaranteeing the property.
The second case: Themortgagor uses the property, in which case the owner allows the mortgagor to use the property for a certain period of time by receiving an agreed amount and without monthly payments, and after the end of that period, the owner is obliged to return all the money and the mortgagor is also obliged to property evacuation. Regarding the price of a property mortgage in Georgia, we must say that due to the fact that the mortgage is very rare and the demand for it is relatively high, the rate is about one-third to one-half of the real value of the property. Also, properties are generally mortgaged with all appliances and furnished. There is a very important point that the property mortgage contract in Georgia is drawn up in official offices and according to the contract, the mortgage amount is written in GEL and must be deposited into the owner's bank account, and also after the contract is signed, the name of the mortgagor along with the contract number is stated in the property document. This makes it impossible for anyone to sell the mortgaged property without the agreement of the mortgagor .

Frequently asked questions about rent property in Georgia

1 Is it necessary to obtain a Georgia residence permit to rent property in Georgia?

No, you do not need a residence permit to rent property in Georgia and you can rent any property with a passport.

2 Are local rentals in Georgia valid?

No, local rentals are also legally valid, but it is best to register your leases if possible.

3Which language you can write the contract of rent or lease?

The contract must be written in two languages, Georgian and the second language spoken by the person

4 Is it possible to sell the property in the mortgage contract without informing the buyer?

No, it is not possible at all because the mortgage in Georgia is mentioned in the property document.

5 Who is responsible for property rental tax in Georgia?

Paying this tax is the responsibility of the landlord, but usually in the agreement and contract of the parties, this issue is the responsibility of the tenant.

6 What is the commission for rent property in Georgia for real estate companies?

Real estate companies usually receive one month's rent from the owner.

7 What is the real estate mortgage commission in Georgia for real estate companies?

Real estate companies usually get three percent of the mortgage value equally from each sides of the deal