Bedroom, toilet, shower, kitchen
Your next apartment in Bucharest
The Company GalDan Apartments owned by the couple Gal and Dan Gashri, operating in Romania, is engaged in the real estate market in Bucharest since 2012 with an experience of over 10 years, a community of 150 investors and over 400 properties under management in the field.
We undertake to turn the purchase process into a simple and pleasant one and to offer you a full coverage beginning with the apartment selection stage, through the receipt of the first rent and up to the day-to-day management of the apartment.
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Apartments under our management
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The GalDan Apartments Company
Your next investment in Bucharest
The GalDan Apartments Company offers investors from the entire world investment opportunities in Bucharest, the capital of Romania. We are active in the real estate field in Bucharest since 2012, the properties which we are offering to our clients are located in the city center. The majority of our business activity is in the field of residential apartments and their management. Today we manage over 400 apartments which we purchased, renovated, equipped and sold to satisfied investors. We offer apartments for sale in the most central locations in Bucharest. All the apartments which are offered are under the ownership of the company. The purchase takes place directly from us. As part of the purchase transaction, we offer a management coverage which includes the current management of the property, 24/7 phone service for the tenants of the apartments, handling malfunctions, repairs, apartment maintenance, finding tenants, rent contracts preparation as well as making monthly rent payments to the investors. At the company headquarters, we employ about 26 experienced and professional staff members, including a local accountant, a local lawyer, designers, and administrative staff. With the exception of the headquarters team, we work with about 50 workers which are entrusted with the repairs of the apartments.
apartments for sale
Two bedrooms, living room, one and a half bathrooms, one balcony, kitchen
Bed, kitchen, bathroom, dining area, balcony
The location of our apartments in Bucharest
The investment process through us
The purchase of the property by the company
Real estate requires local expertise, creativity and depth of knowledge of the sector and region. Over the years we acquired deep understanding of the city’s neighborhoods, the population residing in it and its behavioral economy. We specialize in the area of the center of Bucharest, and we live the trends and fluctuations of the market on a daily basis. Thus, we successfully analyze and evaluate the investment opportunities on a completely different level from other investment companies in the market. The central locations in which we purchase the apartments include: Calea Victoriei, Piața Romană, Piața Universității, Cișmigiu Gardens.
The planning and design of the property
The design department of the company handles the maximization of the potential which exists in the apartment. The domain of responsibility of the department includes: the preparation of detailed plans, simulations, best maximization of the space of the apartment, furniture orders as well as the general design of the apartment.
Meeting and introduction
After an initial interest and a phone conversation for introduction, we will be happy to meet with you in your preferred location – Tel Aviv, Haifa, Bucharest or even in your home. We will go over the details of the transaction, we will answer all the questions and we will choose the property which fits your budget and preferences. You do not have to arrive in Romania, however we recommend and are happy to host and to present the city and our properties to anyone who visits.
Contract signing
A contract signed in Hebrew between the investor and the company is short and to the point. The main points in it, are the obligation of the company to do everything which was pre-agreed including the renovation, management and handling of all the matters pertaining to the property. The investor on his part empowers the company to carry out actions for him in Romania such as transfer in the Land Registry, tax payment in Romania and the rest of the issues pertaining to the property. The process is accompanied by a notary in Israel and in Romania.
Property renovation
The property renovation takes up to six months and is executed by the team of workers of the company. The renovation is meticulous and comprehensive and ensures we do not rely on external contractors. The process includes disconnecting from the old building infrastructures and changing them with new modern ones. This includes the upgrade of the electric systems, plumbing and air-conditioning as well as changing all the windows, flooring and doors on the property. We pride ourselves in carpentry personally customized to the furniture in the apartment, and we provide the general equipment necessary including the electrical appliances. Mainly, the tenant enters the apartment with his personal belongings alone. As part of the transaction, we offer full guarantee for the renovation works during the first two years. Thus we promise that any problem or concerns related to the renovation of the property that may arise during this period will be dealt with and solved immediately at our expense.
Entrance of tenants
At the end of the renovations we rent the properties to tenants with long term contracts. Due to their central location and their high level, the apartments are naturally rented to economically stable tenants. Every tenant gives a security deposit for two months and signs a contract through which he is responsible for any damages caused to the apartment or the furniture in it. The law in Romania allows evacuation within 30 days for tenants who do not pay their rent, which offers security to the investor.
Receiving rent
As part of the transaction we offer the first two years of property management free of charge. The management includes finding tenants, ongoing operation, collection of payment, handling of malfunctions and taxation in Romania. The expected return from rent ranges between 7%-8% not including a potential increase in the value of the property. After two years you will be able to choose to continue with our management for 12% of the rent. In return we undertake through a contract to continue to offer management services for you for an additional 10 years.
