Low interest rate and big profit – these are the main reasons why owners of apartments decide to let them. It is, without a doubt, a golden investment, but what does it cost considering also the right furnishing for an apartment for rental? In the article below, we give you some advice on how to be smart and spend little money when furnishing an apartment for rental that will bring you regular income.
How should you prepare to let an apartment?
First of all, remember that an apartment for rental is a long-term investment. Therefore, the decision to let it or how to arrange it should be well-thought-out. A well-planned home staging will start paying off after just a few years. What should you consider before you let an apartment? First of all, don’t forget a real estate is your business and you need to have a specific idea what to do with it. This concerns especially the right furnishing and the renovation of an apartment for rental.
Purchase of an apartment for rental
Just started planning to buy an apartment? Remember about a good location! When buying an apartment as an investment, this should be your main concern when going through the offers on the market. It doesn’t matter how far it is from the city center – but how easily you can get there. You should look at the main roads, close surroundings of a subway station, a public transport stop/station as well as the commute to such places as: big companies, schools or universities.
Are you buying an apartment as an investment from an owner? When finding an occasional price, remember to add the estimated cost of the renovation of the apartment you will have to incur. The future tenant will also pay attention to the furniture. You should take it into account when calculating the costs of an apartment for rental. However, if you are planning to buy an apartment in the developer’s standard, see how advanced the works are and calculate the initial furnishing costs. In both cases you should check the layout of all the rooms and remember that connecting rooms will reduce the value of your real estate – regardless of whether you want to let the apartment to a couple or a family with children.
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Have you already got an apartment?
A good real estate for a good price, with a good location – when analyzing how profitable it is to let an apartment, you should take into account all the factors. Remember, however, that if your apartment can’t boast a good location, you can attract tenants with beautiful and useful furnishings. How then should you furnish an apartment for rental and make it bring you good financial gains? How to ensure it’s cheap in the process?
The basic question you should ask yourself before furnishing an apartment for rental is: do I furnish it or not? You do, there’s no doubt about that. An apartment bought as an investment should be furnished comprehensively. Above all, focus on furnishing the most important rooms in every house – the kitchen, the bathroom and the bedroom. Don’t forget about the aesthetics of every room – after all, their appearance has to attract a potential tenant.
Ideas for a stylish interior
How should you arrange the interior of an apartment for rental to attract future tenants? How to make it functional, comfortable and also fashionable? Here are some tips!
Start with an inspiration. You can find it in magazines about interior design, on websites or on social media profiles. You can also create special online boards/walls or folders for saving the photos of the interiors you like. This will certainly help you make shopping decisions when faced with a catalogue full of hundreds of colors and patterns.
Start with an inspiration. You can find it in magazines about interior design, on websites or on social media profiles. You can also create special online boards/walls or folders for saving the photos of the interiors you like. This will certainly help you make shopping decisions when faced with a catalogue full of hundreds of colors and patterns.
What’s in fashion? What should you consider when choosing the furnishing of an apartment for rental? First of all something that is classic, minimalistic and natural. The trend for white, Scandinavian rooms is slowly fading away. It is being replaced with a style mainly based on natural materials and simple shapes. Apartments are starting to be dominated by wood in natural shades, light walls, warm lighting and a lot of greenery. Remember especially to include the last of the above items in the apartment you want to let. The most popular potted plants are now monstera deliciosa and dracaena. With a few plants, your investment apartment will acquire a fashionable look at a low cost. Nature is always in.If you think ceramic tiles are more practical than wood, choose the ones that resemble wood. This will make the floor in your apartment not only solid, but also stylish. When painting the walls, bear in mind colorful walls went out of fashion some time ago. Currently we put emphasis on interior design, and the color of walls should be as close as possible to the natural shades of white or pastels.
Potential tenants often pay attention not only to aesthetic interiors, but also to any amenities related to equipment. An apartment for rental should include, apart from the basic equipment such as: a fridge, a washing machine or an oven, also things treated by tenants as a “bonus” – a dishwasher, a TV or quick Internet connection. Note you can always use an online price comparison engine to choose equipment at the best possible price. Such equipment will automatically boost the value of your apartment, and you will know how to furnish an apartment at a low cost.
Home Staging? Don’t forget about the additional costs!
For beginners, letting an apartment means not only purchasing or furnishing costs. At the very beginning, it’s worth considering how you can furnish an apartment at a low cost. Remember about additional expenses you will have to incur during the investment. If you buy an apartment, bear in mind the notary fee, the fee for entering the apartment in the land and mortgage register or the fee for an extract from the land and mortgage register. When it comes to the costs related to letting an apartment – remember about the tax and insurance for your real estate. This will help you avoid unexpected expenses and turn your investment in a real estate into a prosperous and stable business.
