Building types by ownership
Condominiums(Condo):
Apartments are owned by individuals for residential and/or investment purposes. The 99% of the apartments belongs to this category. In some case the apartment owner is not living in Budapest, so she/he is represented by authorized persons of the management company, which manage the apartment. This management companies do everything instead of the owner (apartment technical maintenance, collecting rental fee and utilities), and they gives services for the tenants as well (paid by the owner): they are in contact with suppliers – so the tenants don’t have to go to f. e. the electrical company). It is very helpful for foreing tenants, because bills administration takes a lots of time, and necessary to use hungarian language. Two month rent is standard payment for refundable security deposit.
Co-operatives(Co-ops):
Buildings are structured as a corporation. Rather than owning an apartment outright, individuals own shares according to the size and value of their unit. There are many restrictions on the rentals of co-ops regarding length of lease, roommates, etc. Security deposit may exceed one month's rent. Coops can often be problematic for internationals or new hires without an established credit history.
Rental Buildings
There are just some new rental building in Budapest. The landlord owns the entire building. Two month rent is standard payment for refundable security deposit.