What is the best way to rent an apartment?

If you have decided to start a home rental business, I am ready to share with you a few tips that will help you increase your income.

1. Daily rent will increase your total income several times.

Renting out an apartment for a short term is more difficult than for a long term, but you can earn at least 2 times more from such a business. Before renting out an apartment for daily rent, you need to equip the apartment, make good repairs in it, purchase household appliances, bed linen, and towels. In addition, you need to tune in to the fact that you will have to do the cleaning, change and wash the bed linen after each guest. Sometimes tenants will change every day or even several times a day. Long term rent does not require such labor costs. Many tenants move into rented accommodation with their own dishes, textiles, appliances and even furniture. They will clean up after themselves. But the payment will also be lower.

2. A quality renovation will increase the rental price.

By the phrase “quality repair” I do not mean expensive finishes and designer furniture. I'm talking about comfort. Do not clutter your apartment with furniture and decor. Don't waste exorbitant sums on repairs. A simple laminate, white stretch ceilings and regular paintable wallpaper are enough. You should not buy expensive furniture, plumbing and household appliances. Ordinary interior items and plumbing are not inferior in quality, the functionality is the same. It is important that the renovation is completed. The apartment should look spacious, light and clean. Remember that even the best tenants will not take care of someone else's home as well as their own.

3. The convenient location increases the rental value by about 25%.

An important component of the rental price is the location of the apartment and the infrastructure of the area where it is located. If you are planning daily rent, choose housing near shopping and entertainment and office centers, clubs and restaurants, educational institutions. The advantage will be the lack of nearby inexpensive hotels and inns. It is better to buy apartments for long-term rent in well-equipped areas where there is a school, kindergarten, clinic, public transport stop, shops, pharmacies nearby. A walking area, a pond, a park nearby will also be a plus and will affect the rental value.

If you are purchasing an apartment for its further lease in a prestigious area, pay attention to renovation. The budget option will not work in this case.

4. One-room apartments are always in demand.

If you are just planning to buy an apartment for rent, go back to the question of how long you plan to rent out your home. If you want to earn more and will carry out daily rent, feel free to buy a one-room apartment or a studio. Small apartments are always in demand. Their rental value is lower, so they are rented more often. For renting an apartment for a long time, you can purchase both one-room and two-room apartments.

Here are some tips to look out for when starting an apartment rental business. I hope that they will be useful for you, and you will be able to rent an apartment more profitably, increasing your income!