Fees & Who Pays What (Transparency First)

On AireVest, every cost is visible by design. The tables below walk you through all key fees, operating expenses and taxes in the order they appear in a typical deal—what they are, who pays them, and when. Exact amounts for each opportunity are always confirmed in the KIIS / Investment Memo so you know your expected net return before you invest.

1. Acquisition & Setup (Property + VCC)

What	Typical Amount	Who Pays	Short Note
Acquisition Costs (legal, notary, transfer taxes, registry)	4–5% of property price	VCC (investors)	Standard buying costs in Bulgaria; fully built into the project budget and returns.
Property Appraisal	€200	VCC (investors)	Independent valuation of the property; supports realistic pricing and assumptions.
VCC Registration	€400 one-off	VCC (investors)	Incorporation of the Variable Capital Company that will own the asset.
Renovations & Setup	Deal-specific	VCC (investors)	All works, furnishing and setup to make the property rent-ready or sale-ready. Shown line by line in the KIIS / Investment Memo.
Contingency	10% of renovation budget	VCC (investors)	Buffer for renovation surprises. Unused part stays in the company and can be returned as dividend or kept as reserve.
Operating Reserve	~3% of project budget	VCC (investors)	Liquidity buffer for vacancies, repairs and short-term shocks. May be partially distributed later if not needed.

2. Ongoing Operating Expenses (Once VCC + Property Are Running)

What	Typical Amount	Who Pays	Short Note
Property Insurance	Market-based premium	VCC (from income)	Annual building / liability cover. Treated as regular operating expense.
Property Taxes & Municipal Fees	Deal- and city-specific	VCC (from income)	Local property tax and waste / household garbage fees; standard item in Bulgarian opex.
VCC Admin Management	1.5–2.0% per year (paid pro-rata, monthly)	VCC (from income)	Corporate admin, accounting, reporting, investor communication. 1.5% for properties > €300k, 2% for < €300k.
Short-Term Rental Management (all-inclusive)	30–40% of income after Airbnb/other platform commissions	VCC (from rental income)	Full-service short-term operations: pricing, listing, guest relations, cleaning coordination, on-the-ground support. Paid only when there is income.
Long-Term Rental Management (all-inclusive)	8–10% of collected rent	VCC (from rental income)	Tenant sourcing, contracts, rent collection, maintenance coordination, bills payments, and tenant guarantees where offered.

3. Investor & Platform-Level Fees

What	Typical Amount	Who Pays	Short Note
AireVest Transaction Fee	3% of your investment	Investor	Paid once via Stripe when you reserve your allocation. Converted into AireVest's commission when the round successfully completes.
Digital Wallet Pay-In (upcoming)	1.10% + €0.25 per top-up	Investor	Payment processing fee when you add funds by card / alternative methods; separate from property performance.
Digital Wallet Pay-Out (upcoming)	0.30% + €0.40 per withdrawal	Investor	Fee for withdrawing money from your AireVest wallet to your bank account.
Exit / Sale	1% of Property Price	Seller	Fee for successfully selling a property or a share through the platform

4. Taxes

What	Rate	Who Pays	Short Note
Corporate Tax (Bulgaria)	10% on company profit	VCC	Paid on the VCC's taxable profit before dividends. All project returns are modelled after this tax at company level.
Dividend Tax	Typically 5% Bulgarian withholding	Investor	5% is usually withheld at source in Bulgaria; your home tax authority may require additional tax depending on your personal situation.

In practice, this structure means you invest into a fully costed, professionally managed company that owns a specific property—without hidden mark-ups or surprise charges later. All projections on AireVest are built after these fees, opex items and taxes, so you are comparing like-for-like, net-of-cost returns. If anything in a KIIS is unclear, our default is transparency: ask, challenge, and get answers before committing capital.