Apartments For Daily Rent As A Profitable Business

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The business of letting out apartments on a daily basis is not really new, but, on the bright side, you can learn from the experience of predecessors.

This is a good alternative to long-term lease: compared to hotels, renting an apartment is a more attractive option, and the presence of a kitchen allows cutting costs even more. We will tell you how to organize such a business and analyze its pros and cons.

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Business Requirements

· Location: short-term rent is interesting mainly to visitors: business travelers, tourists, and part-time students. Therefore, the important factor is the proximity to the railway, bus station, underground, the city center and its sights, the traffic intersection, etc. If there is a University nearby, you will be full during the period of the entrance exams.

· Room facilities: the apartment must have the necessary minimum of interior items, household appliances and sanitary equipment, the Internet, etc.

· An adequate price. To properly set the price, analyze the offers of real estate agencies as well as ads in print papers and online. Afterwards, determine the basic cost of similar options. And then make adjustments in connection with the pros and cons of your apartment as well as the seasonal factor.
Compliance with these conditions will significantly increase the competitiveness of your apartment in the market of daily rent of housing.

Pros and Cons of this Business

Daily rent as a business implies certain difficulties:
· Lack of guaranteed income – since you will have to constantly look for new tenants and take the seasonal factor into account.
· The source of competition will be hostels and budget segment mini-hotels.

· Letting the apartment on holidays and parties often implies negative consequences.

· You will have to prepare clean bedding, fresh hygiene items and do the cleaning all the time.


Business development

If you don't want to let out your own apartment, the only option to expand is sublease. To do this, you need to find suitable apartments, houses, sign a lease agreement with the owner, and then sublet these apartments to tenants.

There is a big obstacle here: very few property owners will agree to such a scheme while concealing your plans is illegal. According to the law, the lessee has the right to sublet the property only upon the written owner's consent.

You can see for yourself - regardless of the difficulties, if you properly organize everything and take all the precautionary measures, you can start this up and count on a large and stable profit!