Who manages an apartment in Romania when the owner lives in another country
Who manages an apartment in Romania when the owner lives in another country
You can own an apartment in Romania and earn income from it while living in another country: the property is handled by a management company acting under your power of attorney. There is one limitation — ownership and management are separate: the apartment is registered to you or your Romanian company, and the manager acts within the powers granted. This way an owner from Ukraine, the EU, the US or Canada remains the owner, while the operational work — renovation, tenants, bills, bookkeeping — is taken off their hands. Below: who does what, which documents are needed, how the property is handed over to management, and what to do if the apartment has been bought but no manager has been appointed.
Who looks after the apartment while the owner lives in another country
The property is handled by a Romanian management company under a management agreement and the owner's notarial power of attorney — the owner's presence in the country is not required at any stage. Ownership is not transferred to anyone: the transaction is always registered to the client — to an individual or to their Romanian company. The manager receives not the property but the powers to act in respect of it: to take over the apartment, prepare it for rental, move in a tenant, handle day-to-day matters and send the owner a report. There are 3 ways for the owner to take part: in person, remotely through a power of attorney for a representative, or through a management company acting under the client's power of attorney. Bookkeeping for the rental and for the company is kept by specialized audit firms — this is a separate area of responsibility, not combined with managing the property.
Who handing the apartment over to management suits
The format is designed for an owner who lives outside Romania and is not planning to move: owners from Ukraine, EU countries, the US and Canada use it in the same way. It suits 3 cases. First — the apartment was bought as an asset in the European Union, and the owner needs results, not trips. Second — the property came ready-built but needs preparation for rental: without renovation and furnishing, a tenant either does not come or comes on different terms. Third — the owner already rents out the apartment themselves, through acquaintances, and understands that control over the property and the money rests on nothing more than someone's word. The limitation is stated honestly: management does not replace the ownership structure. If the property is registered poorly or the money route has not been put together, that is solved first, and only then is the property handed over for operation.
Which documents are needed to hand a property over to management
There are 4 documents: title documents for the apartment, a notarial power of attorney, a management agreement and a Romanian bank account for settlements. The carte funciară extract confirms ownership and the absence of encumbrances — any work on the property starts with it. The power of attorney is drawn up at a notary; Ukraine and Romania have a bilateral treaty on legal assistance, so no apostille is required for such documents — notarization and a certified translation are enough. The scope of powers is set out in the power of attorney and the management agreement: what the manager may sign, what amounts they may handle, and on which matters they must agree the decision with the owner. A lease agreement with the tenant is drawn up separately — it is signed on behalf of the owner and registered with the tax authority.
How the property is handed over to management and what happens next
The handover takes 5 steps, after which the property runs on an ongoing basis.
Step 1. Taking over the apartment: inspection, condition inventory, meters, keys, documents.
Step 2. Turnkey preparation: renovation, furniture, full fit-out — the scope of work is agreed with the owner before it starts.
Step 3. Finding and moving in a tenant: viewings, tenant screening, handover certificate.
Step 4. The lease agreement and its registration with ANAF: the owner's obligation, deadline — 30 days from signing, form C168; for a non-resident owner the agreement is registered with the tax office where the property is located, and any change — an extension or a new amount — is registered the same way.
Step 5. Ongoing management and reporting to the owner: utilities, homeowners' association fees, repairs, dealing with the tenant, money to the owner's account.
What to do if the apartment has been bought but no manager has been appointed
A property can be handed over to management at any time — the purchase does not have to be recent, and nothing needs to be sold. The picture people most often come with: the transaction is closed, the keys are received, and then a pause. The apartment stands empty or is rented out under a verbal agreement to friends of friends, nobody has recorded its condition, utilities and association fees are piling up, and the lease agreement is not registered with the tax authority. Each month of such a pause means expenses without revenue and a risk of claims.
The procedure for bringing the property out of idleness — 4 steps.
Step 1. Inventory: the apartment's condition, debts for utilities and to the association, what is actually happening with the property now.
Step 2. Legalizing the current rental: a written agreement and registration with ANAF; if the rental ran without an agreement, the relationship is formalized from the current date.
Step 3. Preparing the property: whatever the apartment cannot be rented out at its proper price without.
Step 4. Handover to management: power of attorney, management agreement, account, start of work.
The form of ownership is checked separately: if the property was registered without regard to your goals, the structure is rebuilt — this is calculated before, not after.
How Alliance works and what Armonia is responsible for
Alliance builds the structure and controls the money, Armonia works with the property. The formula for dividing the roles does not change: Armonia shows the properties, Alliance protects the money and builds the structure. In management this means legal due diligence of the property and the powers, the management agreement, the bank route, the tax regime, financial monitoring and coordination of all processes; bookkeeping is kept by specialized audit firms. The cost of management depends on the package and is fixed in the contract — together with the timelines, the amount and the working procedure. We run 2 products: full support for real estate transactions, and obtaining EU residence or citizenship. The right to Romanian citizenship is confirmed by documents — and we take this right all the way to the passport. The decision is made by the authority: the result cannot be guaranteed, but the file can be assembled so that there are no questions about it. The timelines, the amount and the working procedure are in the contract. The company's licenses are publicly available on the website.
Where to start: conclusion and next step
Start with a free compliance assessment — it is carried out before any decisions and does not oblige you to anything. In the written opinion you get a recommended bank, a list of documents for the source of funds, an assessment of origin, the ownership structure and the way of working with the property. And a straight answer: whether this structure suits you. The assessment may end in a reasoned refusal — that is also a result of the work. An apartment without a manager does not become an asset by itself: it just waits. Send the word АКТИВ — we will review your situation and your property.
Do you need to come to Romania to hand the apartment over to management?
No: the management agreement and the power of attorney are drawn up without you having to come, and the property is taken over by the management company. Ukraine and Romania have a treaty on legal assistance, so no apostille is needed for a notarial power of attorney — a certified translation is enough.
Who keeps the books and reporting on the rental?
Bookkeeping is kept by specialized audit firms — for the property and for your Romanian company, if the property is registered to it. The management company is responsible for the property and sends the owner a report on its condition and settlements.
How much does property management cost?
The cost depends on the package and is fixed in the contract: the set of work differs for an apartment in long-term rental and for a property being prepared from scratch. We give the exact figure for your property after the assessment.