Property management in Monaco: your apartment deserves better than management by habit

The rent reviewed at every renewal, a tenant found within days, clear accounts every quarter, and one person who answers you. If your current management does not give you that, it is time to compare. Nothing binds you, and no one need know.

A management statement every quarter
Security deposits held in a guaranteed escrow account
Your mandate transferred with a single letter
The same standard, whatever the size

Where do you stand? Choose your situation

Eugenia Petrini, founder of Petrini Exclusive Real Estate Monaco

Eugenia Petrini Co-founder · Head of property management

More than forty years in luxury real estate in Monaco. She knows the buildings, the building managers and the real rents of the Principality, and she is the one who reads your file.

Send her your management mandate and your latest quarterly management statement. In one conversation, confidential and without obligation, she will tell you what you are paying, what you are losing, and the date you are free to leave.

Send my mandate to Eugenia

or call her on +377 92 00 16 00

Step 1 · Your situation

Where exactly do you stand?

Four situations lead to this page. Select yours: what follows is written for you alone.

A long-standing owner, with the same agency throughoutEverything works, or appears to. You have never had a reason to look elsewhere.This is me You have inherited, or you willThe managing agent is your parents' choice, not yours.This is me You do not understand your fees or your accountsA transfer with no breakdown, fees never renegotiated, a mandate signed twenty years ago.This is me Something went wrong and left you doubtingKeys nobody can find, works left unsupervised, compliance forgotten, a rent never reviewed.This is me

You have done nothing wrong. You have checked nothing either.

Your apartment has been managed by the same firm for ten, twenty, sometimes thirty years. You know the name of the person who looks after it, that person knows yours, and the relationship has real value: we are the last to deny it. But a relationship is not a management statement. When did you last read yours? When was your rent last reviewed? What does your mandate provide, and how long does it bind you?

These questions are not an accusation. They are the questions you would put to your banker, and you do put them to him. Your apartment deserves the same clear eye. What we propose is not that you break with anyone: it is that you compare, discreetly, what you have with what you could have.

Have Eugenia Petrini read your mandate and your latest management statement. One conversation will tell you whether you are well served.

If you are, she will say so, and you will have gained a certainty. If you are not, you will decide with the facts in hand, in your own time, and no one will know before you do.

You never chose this managing agent.

Whether the apartment is already yours or will be one day, the mandate that governs it was often signed twenty years ago, on terms no one has read since, and the rent it collects has sometimes not moved in almost as long. Your parents see a relationship, a familiar face, peace of mind. You see an asset quietly eroding.

Both are right. That is why the conversation is difficult when it has to happen, and why it should not be framed as a break. Frame it as a comparison. And if the property is already yours, an inheritance is the natural moment to review the whole file: the real rent, the fees, the condition of the property, the accounts, with no one seeing anything more in it than a normal taking of charge.

If the family owns several apartments, start with one. The rest will be decided on the evidence.

The first quarterly management statement, the first re-letting, the first claim settled without anyone having to make a telephone call will do the work your arguments will not. That is exactly how the families of the Principality come to us: one property, then the others.

You are not meant to work it out alone.

A management statement is meant to be read. If yours cannot be, you are not the problem. Monegasque law requires the managing agent to account for every calendar quarter, in a detailed statement of the sums received and paid (article 13 of Monaco's Law No. 1.252 of 12 July 2002). An owner who does not receive that statement, or cannot make sense of it, is not being demanding: he is being badly served.

Fees, for their part, are normally calculated on the rental income actually collected: an empty apartment costs nothing, and a tenant who stops paying earns the agency nothing either. If your mandate says otherwise, or if you do not know what it says, that is precisely what needs looking at.

Send your mandate and your latest management statement to Eugenia Petrini. She will tell you what you are paying, what you are losing, and the date you are free to leave.

This review is free, confidential and without obligation. If your current management is sound, she will tell you that too. It happens.

That was not bad luck.

An apartment handed over to a tenant without electrical compliance. Keys no one can find any more. A renovation nobody supervises, whose defects you discover yourself. A rent that has not moved while the flat above has just been re-let for far more. These are not isolated incidents: they are the symptoms of a mandate that is not being performed.

A management mandate transfers precise powers to the agency: finding and selecting the tenant, signing and renewing the lease, reviewing the rent, drawing up the inventories of condition, having works carried out and paying the contractors, collecting rent and service charges, holding security deposits in a guaranteed escrow account, declaring and handling claims, representing you at co-ownership meetings and before the Monegasque authorities, and pursuing unpaid rent. On every one of these points, a properly managed owner does nothing at all.

If your telephone still rings about a quotation or a reminder, the delegation never took place.

You do not have to endure this out of politeness. Monaco is a small place, and no one knows that better than we do: that is exactly why we handle the transfer ourselves, and why you will never speak to the agency you are leaving again.

Step 2 · What it changes

Twelve years at the same rent. Seven days to triple it.

2 500 €a month, unchanged for more than ten years, without a single review

4 000 €the level the lease's own review clause alone would have reached, on our calculation

7 000 €the rent obtained one month after the mandate was transferred, the flat re-let in seven days

This owner did not lose a sum of money, he lost a decade. Nobody robbed him; nobody looked after it, which comes to the same thing. A low rent is comfortable for everyone except you: it lets quickly, it avoids the annual conversation with the tenant, and it costs the agency a fraction of what it costs you. On an apartment advised at 13 000 € instead of 18 000 €, the managing agent gives up a few hundred euros of fees a month. The owner gives up 60 000 € a year.

This is not ill will, it is an incentive. It disappears the day the people managing your property put their own name behind it.

File taken over in 2026, anonymised and rounded. That same file required tracking down the keys, changing the lock, identifying the parking spaces attached to the flat, having the appliances, the air conditioning and the shutters delivered, and resuming works left unsupervised. Figures depend on each property and are not a promise of results.

Who answers you

Our name is on the door.

The agency is called Petrini because that is our name. When management is done badly, it is not an employee who goes home in the evening: it is our family that answers, in a city where everyone knows everyone. That is the difference between a brand and a family firm, and it is why we manage the properties entrusted to us as if they were our own.

Many agencies handle property management because they have to. Eugenia Petrini, co-founder of the agency, with more than forty years of experience in luxury real estate, does it because she enjoys it: it is the business in which you know every building, every building manager, every tenant, and in which you watch an estate held well year after year.

A dedicated team, nothing subcontracted

Property manager, accountant and management work on managed properties and on nothing else. Rent collection, works, claims, co-ownership meetings: everything is handled in Monaco, by people you can telephone.

On your side, always

We manage the properties entrusted to us as if they were our own. A rent to be reviewed, unpaid rent, a claim, a dispute with a tenant or a contractor: it is the owner we represent, and the owner we defend.

Decades of memory

The usual service charges of a building, its building managers, its past works, its real rents: we know them residence by residence.

A tenant, quickly

Our letting business brings us, every week, the serious applicants looking for your type of property. An apartment does not sit empty with us.

What we propose

Entrust us with one apartment, and compare.

One apartment is enough to compare. The rest is decided on the evidence, statement against statement.

Start with a single apartment, whatever its size

If you own several, entrust us with one and judge on the evidence. Re-letting, quarterly management statement, responsiveness. The others will follow when the difference is visible, not before.

The whole handover, taken off your hands

We draft your letter and collect the lease, the security deposit, the accounts, the keys and the documents from your former agency. You speak to no one.

A free reading of your mandate

Your mandate and your latest statement, read by Eugenia Petrini in complete confidence: what you are paying, what you are losing, the date you are free to leave. No obligation.

Preferential terms for the first year

Every transferred mandate carries preferential terms for its first year, set out before you sign.

Fees on what is actually collected

Never on theoretical rent. Set file by file, stated before signature, with no line discovered along the way, and meant to be more attractive than the fees you pay today.

Step 3 · Your date and your letter

Check your date. The letter is already written.

In Monaco, the usual mandate runs for one year, renews automatically, and can be terminated by registered letter (recorded delivery) three months before the anniversary. The only real risk is letting the date pass: we have seen owners stay four years with a managing agent who no longer suited them, purely because the letter never went out in time. Enter the date your mandate was signed: you get your deadline, and the letter, already drafted.

Date the mandate was signed

Commitment period

Notice period in the mandate

Properties managed

Monthly rent excl. charges (€), optional

Management fee in the mandate (%), optional

Enter the date your mandate was signed: you get your deadline, and your letter ready to sign.

Your letter, ready to sign

Tell Eugenia on WhatsApp

Fill in the brackets, send the letter by registered post with recorded delivery to your current agency, and send us a copy. We take over on receipt. You will have no further exchange with them.

An indicative calculation based on the information entered; it does not replace reading the clauses of your own mandate.

What still holds you back

Four sentences we hear every week.

“I will fall out with them.”

Monaco is a narrow market and the fear is legitimate. Changing managing agent is nonetheless an ordinary decision, carrying no reproach and calling for no explanation. The letter is neutral and the handover is settled between professionals: your tenant simply receives the details of their new point of contact.

“I have known them for twenty years.”

Precisely: a twenty-year relationship can withstand a comparison. No one will know you had your mandate read, and if everything is in order, nothing changes. You will simply have checked.

“You surely don't manage a one-bedroom flat.”

We do. A one-bedroom flat in the Carré d'Or receives the same management mandate, the same quarterly management statement and the same tenant selection as a penthouse in Larvotto. What is high-end here is the way the file is kept, not the size of the property. And it is on the most sought-after layouts that the rent sits longest without being reviewed.

“I am committed for three years.”

That term makes sense for a portfolio of several properties. Imposed for a single apartment, it takes away your only leverage. Note your notice date precisely, the tool above calculates it, and have us read the mandate: the term is not the only clause that counts.

Step 4 · Talk it through

Talk to Eugenia Petrini. Not to a department.

Your mandate, your latest statement, or two lines about your situation. She answers you personally, with her reading of it, your deadline and her proposal. If your current management suits you, she will say that too.

Notaries, private bankers, family advisers: we take over management files as part of an estate settlement or a reorganisation of family assets, in coordination with you.

WhatsApp Eugenia Petrini Send my mandate by email or call +377 92 00 16 00

Frequently asked questions

Property management in Monaco: what to know before you decide.

How long does a property management mandate normally run in Monaco?

In Monaco, the usual property management mandate runs for one year, renews automatically, and may be terminated by the owner by registered letter (recorded delivery), observing the notice period written into the mandate, most often three months before the anniversary date. Some mandates provide for a firm commitment of two or three years: that term makes sense for a portfolio of several properties, less so for a single apartment. Term, renewal and notice period are the three clauses to read before signing.

How do you terminate a property management mandate in Monaco?

A management mandate is terminated by a registered letter with recorded delivery sent to the agency before the notice deadline, with no reason to be given. The letter states the expiry date of the mandate and asks for the complete file (lease, inventories of condition, security deposit, statements of account, management statements, keys) to be passed to the new managing agent. Petrini Exclusive Real Estate drafts this letter for the owner, then takes over the file directly from the former agency.

What happens to the security deposit when you change managing agent?

The security deposit paid by the tenant follows the mandate: the former agent passes it to the new one, who holds it until the end of the lease and returns it to the tenant subject to any damage recorded in the exit inventory of condition. At Petrini Exclusive Real Estate, security deposits are held in an escrow account covered by a financial guarantee.

What happens to the tenant already in place?

Nothing changes for the tenant: the lease continues on the same terms, at the same rent and to the same expiry. The tenant is simply informed by the new managing agent of the new point of contact and of the new details for paying the rent. A change of managing agent is neither a notice to quit nor an amendment to the lease.

How often does the owner receive the accounts?

Under article 13, paragraph 2, of Monaco's Law No. 1.252 of 12 July 2002, the managing agent accounts to the owner for each calendar quarter, once the rent has been collected, in a management statement detailing the sums received and the sums paid. An owner who does not receive that statement is entitled to demand it.

How are property management fees calculated in Monaco?

Property management fees are calculated as a percentage of the rental income actually collected, and not of the rent stated in the lease: a vacant apartment or unpaid rent generates no fee. The rate is a matter of professional practice and not a tariff set by the State; it varies with the number of properties entrusted, the nature of the property and the scope of the mandate. At Petrini Exclusive Real Estate, fees are set file by file and stated before any signature. The initial letting and certain one-off acts are invoiced separately, and set out in advance.

Do you manage studios and one-bedroom flats?

Yes. The management mandate, the quarterly management statement and the team that follows the file are identical whatever the type of property, from a studio to a penthouse. Only the number of properties entrusted and the scope of the mandate enter into the fee calculation. Rental demand in Monaco is particularly strong for studios and one-bedroom flats, which makes reviewing the rent regularly all the more decisive on these types of property.

Key points

Property management in Monaco, in six facts.

The usual management mandate in Monaco runs for one year, renews automatically, and requires three months' notice of termination by registered letter.
Monaco's Law No. 1.252 of 12 July 2002 requires the managing agent to account to the owner quarterly, in a detailed management statement.
Property management fees are calculated on the rental income collected: a vacant property costs nothing in fees.
Petrini Exclusive Real Estate manages every type of Monegasque property, from studio to penthouse, with the same mandate and the same quarterly management statement.
A Petrini management mandate covers the tenant and the lease, the inventories of condition, the rent and service charges, the security deposits held in a guaranteed escrow account, the works, the insurance and claims, the co-ownership and the Monegasque authorities, unpaid rent and disputes.
Changing managing agent in Monaco comes down to one registered letter: the new agent takes over the current lease, the security deposit, the accounts and the keys from the former agency.
Petrini Exclusive Real Estate, 3 avenue des Citronniers in Monaco, is a Monegasque company and a family agency founded by Eugenia Petrini and Paolo Petrini; property management there is led by Eugenia Petrini, who has more than forty years of experience in luxury real estate, with a team that does nothing else.

WhatsApp Eugenia Call

These articles might interest you

Find the best real estate agent Monaco

Best real estate agent Monaco In Monaco, even more so than elsewhere, a good real estate agent must also be able to offer you a selection of off-market properties, usually inaccessible to the public.

More Information

Rental Guide

How to Rent an Apartment in Monaco: Complete Guide The Principality of Monaco is a prestigious city known for its casino, its marina, the beauty of its districts such as Fontvieille, a business district located in the west of the Principality, and La Rousse, a residential area with a view of the Larvotto sea. It is especially renowned for its exceptional real estate. If you are looking for a Rental Guide in Monaco For real estate in Monaco, you've come to the right place

More Information

Find a tenant

Find Tenants in Monaco Looking for tenants for your property in Monaco? Do you own an apartment or residence in Monaco with beautiful rooms, a terrace or a swimming pool, and you would like to rent your property in Monaco? Whether you own a building or apartments in a prestigious area of Monaco such as Larvotto, Carré d'Or or Monte Carlo, we understand the importance of finding the ideal tenants for your well-rented apartment.

More Information

These properties might interest you

petrini exclsuvie for sale villa annonciade1

Price on request

Villa Annonciade · La Rousse - Saint Roman

Renovated Triplex Penthouse with Rooftop and Sea View - Villa Annonciade

Triplex penthouse with private rooftop in the district of La Rousse, close to the beaches of Larvotto. The apartment has been completely renovated and offers a breathtaking panorama of the Mediterranean and the surrounding coasts.

368 sqm 3 bedrooms

immeuble prince de galles monaco petrini exclusive real estate3

600 000 €

Prince de Galles · Carré d'Or

PARKING - PRINCE DE GALLES

Parking for sale in the building "Le Prince de Galles", ideally located in the heart of Monte-Carlo. This location offers a convenient and secure solution in one of the most prestigious areas of Monaco.

Parking

Sole agent 750 000 €

Patio Palace · Jardin Exotique

Double parking box - Patio Palace

Double box n 108 (lot 384) and n 109 (lot 385) on the 1st basement of the Patio Palace

Parking

Price on request

Prince de Galles · Carré d'Or

OFFICE IN THE GOLDEN SQUARE: PRINCE DE GALLES

A prestigious location in the heart of the Carré d'Or, located on the ground floor of the luxury residence Le Prince de Galles. The office is decorated with high-end materials and refined finishes. In addition to the common areas, the client will benefit from these private offices, toilets, reception, corridors, access to the meeting room and the business lounge. Its great comfort is perfect for hosting your company.

11 sqm Office

Price on request

Prince de Galles · Carré d'Or

BEAUTIFUL OFFICE IN THE HEART OF MONACO

A prestigious location in the heart of the Carré d'Or, located on the ground floor of the luxury building Le Prince de Galles. The office is decorated with high-end materials. In addition to these private offices, the customer will benefit from the common areas, toilets, reception, corridors, access to the meeting room and the business lounge.

15 sqm 1 bedroom

Price on request

Prince de Galles · Carré d'Or

IN THE HEART OF THE GOLDEN SQUARE - OFFICE

A prestigious location in the heart of the Carré d'Or, located on the ground floor of the luxury building Le Prince de Galles with a window on Avenue des Citronniers. The office is furnished with high-end materials and refined finishes. At these private offices, the customer will benefit in addition to the common areas, toilets, reception, corridors, access to the meeting room and the business lounge. Its great comfort is perfect to host your company.

30 sqm Office

Price on request

Prince de Galles · Carré d'Or

IN THE HEART OF THE GOLDEN SQUARE - OFFICE

30 sqm Office

Price on request

Prince de Galles · Carré d'Or

BEAUTIFUL OFFICE IN THE HEART OF MONACO

A prestigious location in the heart of the Carré d'Or, located on the ground floor of the luxury building Le Prince de Galles. This 25m2 office is decorated with high-end materials and refined finishes. In addition to these private offices, the customer will benefit from the common areas, toilets, reception, corridors, access to the meeting room and the business lounge. Its great comfort is perfect for hosting your company.

25 sqm 1 bedroom

Price on request

Prince de Galles · Carré d'Or

BEAUTIFUL OFFICE IN THE HEART OF MONACO

A prestigious location in the heart of the Carré d'Or, located on the ground floor of the luxury building Le Prince de Galles. This 25m2 office is decorated with high-end materials and refined finishes. In addition to the common areas, the client will benefit from these private offices, toilets, reception, corridors, access to the meeting room and the business lounge. Its great comfort is perfect for hosting your company.

25 sqm Office

Price on request

Prince de Galles · Carré d'Or

BEAUTIFUL OFFICE IN THE HEART OF THE PRINCIPALITY

A prestigious location in the heart of the Carré d'Or, located on the ground floor of the luxury building Le Prince de Galles. The office is decorated with high-end materials. In addition to the common areas, the client will benefit from these private offices, toilets, reception, corridors, access to the meeting room and the business lounge.

15 sqm Office

Find a tenant

Find Tenants in Monaco

More Information

Rental Guide

More Information