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"The Vacation Rental Market in Budva and Montenegro"

Last Minute Tourism, Real Estate and Vacation Rentals is one of the most important industry sector in Montenegro.

There are three standard types how holiday rentals like apartments, houses, villa or rooms are in Montenegro offered and organized.

1.) Owner operated.

Mostly local owner manage the booking by them self or by relatives. The best way to get all information would be a short call with the owner and asking for availability and pricing.

2) Full Vacation Rental Agencies

A local rental agency handles everything. Clients mostly do not get in contact with the owner. A small rental contract is required or recommended. This rental agencies organize repair and maintenance the property and provide receipts?
An advanced payment between 30 to 50% is also required. Some agencies ask for a deposit for security to cover TVs, Stereos Systems, Dishes etc.

They inspect the property before and after each rental and do an inventory inspection. Holiday renters should keep a copy of the inventory list.

3.) Booking Manager,  Booking Agencies and Travel Agents

Mostly these are local agents who run several tourism services.
A booking agency markets the property / rental accommodation. Receive the booking inquiries, and organize payments in any currency.

Version a: A booking agency will transfer the rental payment to the owner and collect therefore a commission fee, which ranges between 15 and 20 percent from the owner. A booking agency may only require that the property be available “on request.”

Version b: After the clients made their decision witch apartment they will take – they will be forwarded to the owner. Clients pay the rental fee and deposit directly to the owner.