When you are going through the stages of “becoming” an expat, you’ll inevitably be faced with the challenge of making the transition between hotel stays and renting an apartment. This will typically occur at the “I’m staying more than 90 days” milestone. But what about that time period before that? Does it make sense to go through the headaches of a short term rental in Bucharest?

Well let’s look at the basics on this; a month in a decently priced boutique hotel will run you on average, 1,500 Euros per month (maybe less) and all of your expenses are going to be included in that. You won’t have to worry about internet, you won’t have to worry about cleaning, laundry will possibly be taken care of, cable TV, utilities, water, toiletries…pretty much all taken care of.

On a short term rental in Bucharest, the “monthly” packages can offer a great value, roughly around the 1,000 Euro mark, however, you will probably be putting down a security deposit that you may or may not get back. Remember that point. Now if you can bargain yourself down some, or find a deal (which we can assist you with, just email us) with the deposit and the first’s month paid in full, you should now be hovering around that 1,500 mark. You can possibly find a great unit available that has most of the amenities of a hotel room, but it will be difficult. Although we would love to assist you in finding a short term rental, we will recommend that you start at a website called www.VRBO.com. We used this site to advertise some of our US properties, and the response and the customer/property owner interaction was always wonderful. Occasionally some good deals pop up on here for Bucharest, a lot of the times they are out of town owners, so you have a relatively simple booking process sans all the legalities. These properties are also “full service” type properties. At the time of writing this article there were only 6 available in Bucharest, so they come and go quite quickly. With short term rentals in Bucharest you will probably be getting a unit in a “block” or communist building somewhere, and you will definitely be lacking the conference room, gym, business center, and other amenities a hotel has… so consider that.

Now while we clearly haven’t crunched all the numbers here, you can still see that it’s a toss up either way you look at it. Biggest consideration is this: do you want somewhere to unpack your suitcase and put your feet up or does hotel life suit you just fine. What’s the most you can get out of your expense account??

Keep an eye out for our in-depth two part article arriving shortly regarding apartment hunting.

Let us know your experiences with short term rentals in Bucharest…

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Let me start off by saying that I have lived quite a few places around the World, and Bucharest, although perceived at first as one of the more expensive cities, actually is not. Now a few things have changed since the US screwed the planet and the “crisis” hit, but this is going to be a “snapshot” of how Bucharest is (in my opinion) at exactly this moment in time.

First off is the apartment/lodging/hospitality category of expenses. Bucharest has it’s share of pricey hotels, no doubt. I would say that one would expect a “good deal” or reasonable price on a room for a night would be sub-100 euros with taxes included. Well, if you kick out the Radisson, Marriot, Howard Johnson, Intercontinental, and some other uber-nice hotels here, you can actually find many “boutique” hotels that offer excellent amenities around the 70-90 euro a night rate. They will probably have wi fi in the lobby only, furnishings won’t be to die for, but you should get a decent nights sleep in a quiet clean environment. I will look around for my recommendations on “budget” lodging shortly. Hotels are an inherently expensive way to travel anyway, so with that being said, even the more expensive hotels are still on par with the international average.

Apartments (both long term and short term rentals) actual rival what I’ve found in some of the “cheapest” places around. An example is Buenos Aires, Argentina. BA, notable for its low cost of living, is actually quite high compared to Bucharest, like other cities, because of what I’ll call the “hidden costs”. Buenos Aires typically requires upfront payment of all your rent for the term, 2 months commission and 3 months deposit (anyone who argues this about BA, you have yet to learn). In Bucharest, if done properly, is not this way. Expect a long term rental in a decent area to average 450-500 euros per month for a one bedroom, 650-800 per month for a two bedroom, and so on. The absolute nicest areas in Sect 1 and city center should be more. With the short term “turn key” rentals you’ll be on par with the rest of the large European cities at weekly prices starting at that. An interesting point to follow is the point of diminishing returns for investors on larger units. When I first moved here I was in a rooftop penthouse that was extremely large with a huge terrace. It was located in the center in Unirii. I was paying 1,200 euros per month. As an investor, you’ll reach a ceiling on the rental amount you can receive on your unit, so your buying solely for appreciation as opposed to ROI at that point. This works out great for us renters if we need a lot of space or are okay with roommates! Something to keep in the back of your mind. Apartment purchases should be around the 80,000.00 Euro price starting out. This is decent areas, but small size. I will create a separate post on purchasing. Let’s move on, I would love comments and discussion and opinions on all of this so far…

Food here can be had very inexpensively if you know where to go. The highly trafficed tourist areas will jack the prices up a bit, but here’s the average:

A large pizza – 8 Euros (35 Ron)

Coca Cola – 1-2 Euros (5-8 Ron)

Great Sandwich for Lunch with Chips – 5 Euros (22 Ron)

Nice Dinner at decent restaurant (per plate) – 8 Euros (34 Ron)

Cappuccino or Double Espresso – 1.5 Euros (8 Ron)

Tipping here is typically ten percent, and is dependent on quality of service. I found the most expensive place I’ve been to eat was Madrid or Paris, with prices easily 50 % higher than this, during the crisis. Buenos Aires still wins on the food prices, but all in all, for both lodging and dining, I would compare Bucharest to cities such as Atlanta, Seattle, Barcelona, basically the “almost biggest” cities in any given region. The New Yorks, Madrids, Londons, Tokyos, Paris’ and Moscows, still stand in a league of their own as “really expensive”.

Keep an eye out for my “off the beaten path” sections that will be coming up on here next week… you’ll get a kick out of the cheaper trendy places around here as well.

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When most of us come in to Bucharest as a transient, we’re 9 times out of 10 going to be booking a hotel. I myself have used booking.com as a tool to get some great deals on hotel rooms, but of course, have been shocked by the reality of an establishment once I’ve “arrived”. Be careful to not book last minute via a walk-in to the hotels around here, as the published prices on the placards behind the desks often indicate the highest prices possible, and lo-and-behold, that is what you are charged. Quite often the “affordable” rooms are “occupied” as well. So be careful, book ahead, and print your receipt for presentation. We don’t get paid for recommending booking.com, it is simply the engine that has worked the best for us many times over. If anyone hears of one that works better or provides better deals then comment on this post. We’d love to have all that information available to us.

If you’re really in a pickle for getting reservations, or need a quick update on your choice for lodging, drop me a line at trevor@bucharestexpat.com and I’ll help you out.

We will be posting a great resource (classifieds & Sub-contractors) here for short term rental properties, so keep your eyes peeled for that later on. Short term rentals are a great option for the longer stay, or even the expat who has yet to lay down some roots. But be weary here, as you will need a local contact to meander your way through the paperwork jungle of Bucharest paperwork if you are serious about renting (sometimes apartments don’t just come with a “simple” contract).

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