BBJ: How did Immocto start?

László Szabó: It was founded 15 years ago, initially to manage long-term rental apartments for Italian investors. Our activities have gradually expanded in line with market demand. Today we handle the short-, mid-, and long-term letting, utilization, and full-service management of residential properties. We manage the portfolios of investors from many countries as well as a large number of Hungarian clients. I have been working in the real estate market since 2001 within the Tecnocasa Hungary network, and I still lead both companies today. The two activities complement each other well, as sales and property management expertise are in the same hands. This benefits both business performance and client satisfaction.

BBJ: Who are your clients, and where do you operate?

LSz: Our clients range from small investors who own a single apartment to large investors with extensive portfolios. Their needs differ. For the former, what typically matters is that the apartment generates income securely and without hassle. For the latter, the key is consistent operations and portfolio-level transparency. We have a physical presence in Budapest, its agglomeration, and on the southern shore of Lake Balaton. Our back-office services, however, cover the whole country and already extend beyond Hungary’s borders.

BBJ: Short-, mid-, or long-term: which should an owner choose?

LSz: There is no single right answer; every property has to be assessed individually. Short-term rental, that is, operating as tourist accommodation, may offer higher income potential. However, it requires more intensive operation, its income is more volatile, and it depends heavily on local regulation. Long-term rental is more predictable and involves fewer operational tasks. Mid-term rental of a few months often offers a good middle ground between the two. The decision depends on the location, the property’s condition, the legal options, and the owner’s goals. We make recommendations backed by calculations, and we can adjust the rental model as the market changes.

BBJ: How do you see the role of residential property managers evolving?

LSz: Today, owners clearly expect genuine passive income. This means peace of mind, transparency, and predictable revenue, while maintaining or increasing the property’s exit value. These expectations have turned property management into a complex profession. Technological innovation and rising market standards demand continuous development. At the same time, the quality of traditional processes such as maintenance and cleaning remains fundamental. In addition, we have to respond quickly to changes in the property market. As a result, the property manager’s role is shifting increasingly from operations towards asset management.

BBJ: What challenges does the regulatory environment pose?

LSz: The greatest difficulty is the unpredictability and the lack of a unified framework. Rules change frequently and differ from district to district, making long-term planning harder for owners and investors alike. I do not believe that ever-stricter regulation will solve the current situation. Market self-regulation could work well if decision-makers created frameworks that are somewhat more permissive but also more transparent. We hope that the voice of the profession will be heard in the near future. What is needed is regulation that takes into account the interests of residents, owners, and the city alike.

This article was first published in the Budapest Business Journal print issue of October 19, 2026.