The EU has adopted a unified law on rental property marketplace such as Airbnb

Many buyers consider real estate in Bulgaria as a successful investment –apartments can be rented out profitably. Property brings additional stable income, but at the same time, residential real estate business is associated with responsibility to tenants and tax authorities. To better control and provide high-quality services to apartment owners, as well as to regulate their status, the European Parliament in February 2024 approved new rules on short-term rental property.

Apart Estate experts made an analysis of what the main rules are and how the innovations will affect the property owners’ business.

The new legislation of the European Parliament applies to all online marketplaces specializing in short-term rentals. These are Booking, Airbnb, HomeTogo, Vrbo and many others.

In accordance with the innovations, all these online marketplaces must regularly provide data on the property offered for rent to the local authorities. Large marketplaces like Airbnb and Booking will provide reports on a monthly basis. Small businesses will do it on a quarterly basis.

The purpose of the reporting is to reduce the number of illegal transactions for the rental of flats and studio apartments in residential buildings and complexes. In accordance with the new regulations, such objects will be assigned category “B”, and officially they will be called “guest rooms” and “apartments for guests.”

The online services will provide the following information to municipalities:

• Property owners and their details. This can be a legal entity or an individual who must pay patent tax, tourist tax, VAT and social charges.
• Address and features of the apartments for rent, including the possible number of guests. All flats and studio apartments in Bulgaria offered on real estate rental sites must be registered with the municipality under category “B”. For registration, the original application, a copy of the document on the right to use the object, a fee payment confirmation (2024 – 20 lev), and, if necessary, a power of attorney from the owner are submitted to the municipality.
• Actual data on properties rented out. To do this, landlords must provide personal information of all guests, rental prices, and rental period.

Airbnb's law requires that rental property online platforms conduct regular checks of landlords and their services on site.

The changes are expected to come into force from the date of publication in the State Gazette of Bulgaria, but no later than January 1, 2025.
Apart Estate real estate agency offers apartments, studios in Sunny Beach, Nessebar, Sveti Vlas, Pomorie, Burgas, and Sozopol. It can be rented out for short-term or long-term periods. We will help you buy investment property in residential buildings and premium complexes by the sea, set up an apartment rental business, carry out renovations and purchase furniture, and also provide advice on legal issues.