Renovation of an apartment for rent: features

The real estate market is expanding rapidly, and with it, competition among landlords. This fact affects the cost of rent and is reflected in the income from renting out the apartment.

Therefore, home owners have an obvious question - how do they attract potential tenants? Experts say that one of the main points in solving this issue is the repair of an apartment for rent. Other factors that make a specific object unique among others are also taken into account. By the way, if you decide buy a house in Kyiv, we recommend contacting the best elite real estate agency THE Capital.

How the finishing of an apartment for rent will affect its value

The owner needs to know about the factors affecting the rental price of the object and its popularity.

• The area where the apartment is located. Location determines almost everything. If the house is next to the subway or in a place with a convenient junction, from where it is easy to get to work, the rent price can be safely raised by 15% compared to more remote areas.
• View of the house. The most affordable are small apartments with a standard layout - "Khrushchevki" and rather cold "panels". Improved layout in a new building is estimated to be up to 25% more expensive.
• Infrastructure. A convenient transport interchange, kindergartens and schools, polyclinics and shops — if it is located within walking distance, you can safely add up to 15% to the price. ">apartments for rent.

Fresh renovation in an apartment for rent increases the rental price by 10-15%, depending on the quality of decoration and the availability of new furniture. Therefore, when there is an apartment that can potentially bring profit, it is worth thinking about the careful preparation of square meters, and only then put the object in the rental base. How to make repairs, each owner decides independently, let's emphasize the main points.

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Repair of an apartment for rent: what the owner should remember

Before starting repairs, you need to determine your target audience. Who is your tenant? To do this, you need to take into account all factors of pricing, that is:

• If the apartment is located in a residential area far from the center, it is unlikely that wealthy people will rent it, since they usually make serious demands on comfort and infrastructure. Expensive repair of an apartment for rent in this case will be pointless, rather neat cleaning. Then the facility will be comfortable and suitable for people whose budget is not designed for luxury apartments.
• If the house is located near the station, you should count on customers who came on a business trip and visited the city on business. Therefore, such an apartment should create a pleasant impression and have everything for a comfortable life.
• Renovation for renting an apartment in the city center should be of high quality and expensive, as all the conditions for a comfortable stay are organized here.

The term of the lease also affects the client's requirements regarding the repair of the apartment:

• for a long period;
• daily

In the first case, the apartment will most likely be rented by residents of the city, and daily rent is suitable for business trips, vacationers or travelers. When you have decided on potential customers, start solving other tasks.

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What will be the cost of repairing an apartment for rent

It is difficult to determine what budget should be invested in repairs in order to profitably rent out an apartment. Therefore, in this matter, consider:

• The basic budget is how much money you are ready to invest in the repair of the apartment and the creation of the environment.
• Who will be the tenant - the portrait of the tenant will allow you to determine the amount of investment. It is logical that if an apartment in the center will seem to wealthy people, then the investments will be larger. A tenant with an average fortune may not care about designer repairs, the main thing is neatness and cleanliness.

To determine exactly what repairs to make in an apartment for rent, you can turn to experts (designer, contractor), who will give detailed advice on this, taking into account the information provided. Therefore, many owners turn to construction companies that are ready to make turnkey repairs within the proposed budget. Practice shows that the amount of investment in an apartment intended for rent is calculated correctly if it pays off within 6 months.

List of repair works

First of all, it is necessary to ensure that communications are of high quality. The condition of plumbing pipes and electrical wiring must be perfect, otherwise there is a risk of accidents. Repairs for rent also include the following:

• Leveling the walls, screeding the floor - the main foundations for a clean repair. Professional rough finishing ensures that linoleum, wallpaper and other work related to restoring the aesthetics of the home will be done much less often.
• Plumbing replacement. If sanitary appliances serve more than 6-8 years, they should be replaced with new ones. They may be inexpensive, but they are reliable. This is due to the fact that potential tenants, during the inspection of the apartment, first of all go into the bathroom and toilet, check the faucets in the kitchen. The fact that not all tenants treat other people's property with care is also important, and leaks and other troubles bring the owner a lot of problems with neighbors and unforeseen costs for new repairs.

Renovation in a new building for rent is considered the most affordable, since most often the developer already offers ready-made housing with new communications and rough decoration.

Clean decoration

In some cases, potential tenants are interested in renting out an apartment for renovation — this phenomenon is rare, it is popular among those who want to save on rent and organize the decoration to their taste. In another situation, it is necessary to conduct a clean repair depending on the portrait of the tenant. In this case, stick to neutrality - choose wallpaper, paint and other materials that are not bright shades, as they will suit almost any resident. Also consider the following:

• Floor. Choose ceramic, quartz vinyl tiles or commercial linoleum - this floor covering will last for many years.
• Baseboard. Landlords often choose plastic baseboards because they are easy to maintain and easy to replace with new ones.
• The walls When an apartment is being prepared for rent, wall repair necessarily includes painting or pasting wallpaper. This decoration will allow, if necessary, to correct the defects that arise and significantly save on the depreciation of the apartment.
• Ceiling. There are two ways here: spend on leveling work or make a stretch ceiling. In the latter case, it is better to choose tension with matte materials, since gloss is not attractive to everyone.

The situation matters

Renovation of apartments for rent ends with the owner deciding whether the environment in the room is necessary, that is, whether it is worth buying furniture and household appliances. Practice shows that if you leave the object empty, it will be difficult to find residents. Only a family that already has its own furniture can become a suitable tenant. Other categories of tenants will be forced to look for ready-made "turnkey" options. In this case, the following should be taken into account:

• Furniture. It should be simple, but reliable. It is better to choose covers for upholstered furniture.
• Kitchen. Choose smooth facades with a pattern - they are easy to care for.
• Washing machine, hob or stove, kettle, microwave, etc. - no novelty is allowed, the main thing is that the equipment is in good condition.
• Curtains - it is desirable to be present. Curtains create coziness in the room. However, for ease of care, choose options made of synthetic fabrics that do not fade and withstand frequent washing.

Therefore, repairs for renting out an apartment are a mandatory item of expenditure for further obtaining a solid profit. Fresh repairs, neatness and cleanliness, as well as the presence of the necessary furniture, increase the chances of a quick handover and a high price. Subscribe to our updates real estate portal and receive the latest publications from the real estate agency THE Capital.