Today, renting real estate in Kyiv is gaining more and more popularity. Apartment owners want to rent an apartment at a good price, real estate agencies compete with each other, trying to grab a "sweet piece" - a cool apartment near the center, with good repairs, and even cheaper.
And if we talk about real estate of the premium segment? It's a little different here, because in most cases, apartments from $700-800 are already in good repair and conveniently located. By the way, if you are thinking about buying real estate, we recommend that you contact us professional luxury real estate agencyTHE Capital.
How to correctly rent an apartment?
Let's say you want to rent a 2-room apartment in the same Pechersk district for a long-term lease. The historical and cultural center of the capital, developed infrastructure. It would seem that the price should start from 1000-1500 $. And apartment owners often think so, and set such a price tag on their property. But the real estate market is a market that has its own rules. The location of the house, the area of the apartment and each room separately, the state of repair, the availability of any equipment, the number of floors, the year of construction, the presence of shops nearby and much more - each of these points directly affects the most important thing - the price of your apartment. In fact, you can rent out anything, the only question is the price.
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Correct price formation
If your goal is favorable rental conditions for both you and the tenants, it is necessary to set the most correct and realistic price. A realtor or real estate agency that works with apartments in your price range will help you with this. A real estate expert (realtor in common people) has a large database of objects, conducts several transactions in your area every day, and knows what exactly the tenant wants and how much he is willing to pay for it. You can set the price tag yourself, but if the amount is overestimated compared to similar options, the search for tenants will be delayed. If you want to rent an apartment, you should correctly evaluate the apartment and not overestimate the rent, so that you do not have to look for a tenant for a long time.
See also:How to rent non-residential premises?
As we wrote earlier, the cost of rent is affected by a large list of factors, each of which must be taken into account. And a competent real estate expert will easily help you in this matter. As an example, we will describe several important criteria for a tenant when choosing housing.
Repair quality
Real estate experts know what is trending now, what should be removed, and what should be added to the interior of the apartment. You may even have to make light cosmetic repairs or replace the bed in the bedroom - but this is at your discretion as the owner. Yes, all this will also affect the formation of the rental price, but if you, for example, lived in this apartment yourself and are going to rent it only for a certain period - say, up to a year - then you can leave everything as it is. But if you plan to rent an apartment for a long-term lease and at a good price, you must take into account the wishes of the potential tenant for the design of the apartment. And, of course, everything depends on who you want to rent an apartment to: one person (boy/man or girl/woman), a couple, a family, with or without animals, with or without children. This should also be taken into account during the repair or design of the project.
Location and infrastructure
These are very important factors that also have a strong influence on price formation. The floor and number of floors, where the windows face, traffic interchange, distance to public transport stops, parking, schools, kindergartens, distance to the shopping center, the nearest shops/supermarkets, the presence of parks/squares nearby - each of these points will be very important so that the tenant chose the apartment, and everyone has their own. Few people want to rent an apartment 20 minutes by public transport to the nearest metro station. But we took the example of the city of Kyiv, and its specific district - Pechersk, and in it everything is quite compact and residential buildings are not so far from the nearest metro stations. Also, many people who rent housing from $1000 already have their own car, so just in case, see if there is a parking lot in your house, and if it will be convenient to park your car in the yard.
Don't delay in giving up
Setting an inflated price, despite the realtor's recommendations, threatens with a long surrender. Let's say you decide to bid $1200 when the market price is $1000. Let's take for example the rent of an apartment for six months: if the price is $1200, while similar options in your region are $200 cheaper, your apartment will be idle for a month without residents, which is minus 1 month of rent.
If there are tenants for the second month, then in 5 months you will receive $6000. And if the cost of renting an apartment was initially $1000, then in the same six months the income would be the same $6000. Therefore, advice from experts who know the real price of your apartment will help you start earning rent today. And if you have an apartment and you need a realtor's advice on the property's value, contact THE Capital. Was the publication interesting and useful? Subscribe to our real estate blog updates and receive new posts from THE Capital real estate agency.
