Own one or more Prague rentals? Low-cost, high-value property management is right for you

Prague property owners, particularly those with multiple properties, often wish they could find a way to keep their rental business running while cutting out hassle. 

Rental activities – such as finding tenants, dealing with complex paperwork such as annual reconciliations of service charges, and checking inventories – as well as property management work – including physical repairs and regular maintenance, rent collection or dealing with insurance claims – eat up time and leave owners unable to devote themselves to other pursuits.

This is where expert rental property managers such as Happy House Rentals, a Prague company with 26 years of experience and strong connections with the expat community, save the day. Happy House Rentals is led by Blažena Polahárová, a familiar face for many expat property owners, and provides a full suite of services allowing owners to reap the benefits of their Prague rentals with none of the headaches.

Various employees at Happy House Rentals come from the United Kingdom or worked there in the past. Prior to joining Happy House Rentals, Adela Press, the Head of the Property Management Department, worked in property management in Bristol, England.

According to Adela, Happy House Rentals “brings clients a personal touch.” Working from a modern office with a friendly atmosphere just off Náměstí Míru in the heart of Vinohrady, the company is small enough that every flat receives individual attention, but large enough to provide the security of a well-staffed organization.

Remarkably, Happy House Rentals can find suitable tenants within just 2 weeks if the rental price corresponds with current market prices in the given location, and if the flat does not require major repairs. Such rental services are a vital part of property management, and efficiency is guaranteed with Happy House Rentals. Rentals are arranged by brokers with decades of experience on the local real estate market.

As a result, occupancy at properties managed by Happy House Rentals is very high, with tenant agreements signed for 1 year but most tenants staying longer, typically for 2-3 years. Happy House Rentals has a strong motivation to rent out properties quickly to reliable, trustworthy tenants; it does not charge clients any fee during periods when their property is vacant.

Tenants not paying rent can be a disaster for landlords; according to Happy House Rentals, Czech law provides more protection for landlords than for tenants. 

“It’s vital to ensure quality tenants,” explains Adela. “Our tried and tested methodology for vetting prospective tenants includes a requirement for employment references and liability insurance, clarity in terms of their permanent residency, and information as to whether or not they smoke or have pets. Even with this rigorous system, we typically arrange rentals within two weeks.” 

If, even after this process, tenants are late in paying their rent, Happy House Rentals acts immediately and does everything in its power to ensure that owners receive the money they are owed.

Rent dodgers aren’t landlords’ only headache. Maintaining properties as tenants come and go is even more time-consuming. On countless occasions, landlords need to be present; as Adela says, “somebody has to be physically present to inspect the property, see the need for repairs, and accommodate a tenant.” 

With Happy House Rentals, owners never need to visit their property in-person; Adela adds that “we have never even met some of our longest-term clients face-to-face. They simply know that they can trust us with their property.”

Once cooperation is secured with a power of attorney and signed contract, Happy House Rentals makes a detailed inventory, noting damages and listing necessary works, with properties immediately becoming subject to a key security system that ensures peace of mind. The entire process, including handover, can be performed via mail and email, removing the need for owners to be physically present at any stage.

When tenants move out, landlords have to check the inventory and condition of the property, and unpleasant disputes are not uncommon. 

That’s why Happy House Rentals provides tenants with a clear, extremely detailed handover protocol, ensuring the presence of all listed items while checking for deterioration in the condition of the property by means of photo documentation. 

Happy House Rentals also deals with former tenants who may abdicate all sense of responsibility to the owners as soon as they walk out of the door. Its expert handling of negotiations over the release of security deposits saves owners one of the most draining aspects of rental property management.

Happy House Rentals charges monthly management fees of CZK 1,200 (exc. VAT) for small studio apartments, CZK 1,500 for apartments for long-term rentals, CZK 1,800 for apartments for mid- and short-term rentals, and from CZK 2,500 for family houses or properties on the outskirts of Prague. 

This system differs from many other property managers who charge a percentage of the rent, resulting in a better deal for owners, “especially as the rates are lower if you rent multiple flats with us,” according to Adela. 

Happy House Rentals also serves those who own entire apartment buildings, cooperating with a long-term trusted partner company for full facility management services. This means owners of apartment buildings are fully covered, with units taken care of and occupied, and all building services managed. As Happy House Rentals and its partner communicate and cooperate closely, owners only become involved in the event of critical or sensitive matters.

A free three-month trial allows potential clients to experience the value of Happy House Rentals’ services for themselves.

Along with its comprehensive list of regular property management activities, Happy House Rentals also takes care of preparing new-build properties or properties under reconstruction for the market. 

With connections throughout the industry, Happy House Rentals ensures rapid turnaround while handling all negotiations with suppliers. 

“Many of our clients are investors; their time is precious, so they hire a specialized, trustworthy company to take care of all this,” points out Adela. “Especially for those who have bought a new flat and want to equip it ready for rental, our full-service support makes all the difference. Whether they’re living abroad, or they’re based in the Czech Republic but too busy with work or family life, such people find it preferable to pay for our help.”

Remarkably, with Happy House Rentals, owners can fully renovate, repair and furnish a Prague property without needing to be physically present. Within a month, and without lifting a finger, they can be generating income from their newly painted, furnished and rented apartment in the Czech capital.

Prague property owners have trusted Blažena and her team for decades, and their positive experience is proven by the fact that a majority of new clients come to the company via word of mouth references. “Some landlords have been with us since the beginning, and every year we take on new properties,” explains Adela.

This trust is the result of decades of success in supporting owners of flats, family homes or whole apartment buildings in Czechia. Happy House Rentals provides the best of both worlds for clients, taking on all the responsibilities of management so that owners can enjoy the benefits of their rental property to the full.