Real estate in Europe acquired! What’s next?


Law office INLAT PLUS has been for many years providing assistance in obtaining residence permits on different grounds. During last years the most popular type of investment for purposes of residence permit has been the acquisition of real estate. According to the Office of Citizenship and Migration Affairs last year 2435 foreigners have applied for residence permit. Amount of the investments by foreigners into real estate in 2012 constituted more than 200 million EUR.

In cooperation with out partners and clients, which are both the developers and the realtors, we offer properties for any taste and budget. Inlat Plus experts will provide full support of purchase transaction and assist in obtaining a residence permit in Latvia. Moreover, clients often ask us for property management services and we provide such help, too.

After the property in Latvia is acquired, a non-resident person then encounters a set of problems and questions. What to do next? How the agreement with service providers is to be entered into? How to pay immovable property tax, utility services, electricity and a whole lot of other questions which he is now to deal with. Together with Inlat Plus all these and other issues are easily resolved. During past years we have had a positive experience of rendering said services. Let’s take a look at the possible issues which the buyer will have to deal with after taking the property into his possession:

  1. make the acquaintance of the property administration company and enter into administration agreement;
  2. enter into agreements with service providers: electricity, gas, television, Internet.
  3. take care about insurance and security of the property;
  4. perform renovation in the apartment, find an appropriate designer;
  5. apartment cleaning services, rent and other common issues.

A new owner, especially one who may not permanently reside in Latvia, may find it difficult to resolve all the issues related to property administration. 

For such purposes Inlat Plus may undertake the resolution of all such issues:

  • receipt and payment of invoice for utility services;
  • maintain relation with administration company, resolve current issues in connection to the apartment;
  • represent the client’s interests on the house owners’ meetings;
  • render assistance in resolution of disputes between the client, neighbors and administration company.

Different unforeseen situations may occur, e.g. bills by administration company may not correspond to the actual reading of the meters in the apartment or calculation procedure of utility services is incorrect, a neighbor by his/her act or omission caused the flood in the client’s apartment, etc. 

There was a case when the neighbors of the U.S. national had flooded his apartment in a new-built house. The owner wasn’t present in Latvia that moment and therefore the administration company had contacted us directly. Inlat Plus employee was duly authorized and had the keys from the apartment, which is why this problem had been quickly resolved by means of fixation of damages and applying for compensation to the insurance company. Few days later the owner had received full compensation of damages. 

If the client would wish to renovate the apartment or change the interior design, our company may help the client in choosing the appropriate service provider keeping in mind the individual taste of the client and his/her financial means. 

During renovation there may arise different problems, such as quality complaints, failure to meet the deadlines or event a theft, which once again requires the involvement of specialists which will protect the rights of the owner to the full extent. 

There was a situation, when upon residence address declaration of a new owner and its family members a fact came to light that the seller’s family was still registered in the apartment. If it wasn’t for Inlat Plus specialist who had managed to find understanding with the seller by means of negotiations, the new owner would then be required to refer this matter to the administrative court in order to remove the records of previous seller’s family registration address, which would undoubtedly take a lot of time. 

In certain cases when the property owner wishes to rent its apartment, our company will help to find the tenant, negotiate the terms and conditions, enter into rent agreement considering the renter’s interests, control performance of the agreement, and in case of necessity, resolve disputes with the tenant. The renter in such a case earns income without being bothered in any way by the foregoing issues. 

These are just a few examples of common issues which a new Latvia-resident would definitely require a counsel and help in. It is smarter to start together, especially together with a team of Inlat Plus professionals. You may inquire for further information at Inlat Plus.

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