In Podgorica, over the past year, just over 12,000 rental agreements have been signed. Similar data was received from the south of Montenegro, where a little less than 12 thousand contracts were concluded. However, these figures are greatly underestimated due to the fact that many apartment owners prefer to rent them out illegally, according to the Tenants' Union of Montenegro.
The organization requires the authorized bodies to legally regulate the real estate market and protect it.Among other things, they insist on mandatory registration of contracts.
Many tenants rent without signing a contract, and thus find themselves in a vulnerable position. This situation is beneficial for homeowners, as they can find a foreign tenant at any time who is willing to pay more.
It is estimated that Montenegro's economy is losing between 20 and 30 million euros per year due to the grey rental market.
Source: RTCG
