10 tips for those looking for housing for rent

Investing in flats is an increasingly popular method of earning money. What do we need to pay attention to when we want to take this seriously?

Although renting is a good way to multiply your capital, it is not advisable for beginners to treat it as a full-time job. There is a need for extensive knowledge of the market and investment in real estate in order for this to be the main source of income. Even the experienced emphasize that it is not worth to throw oneself into deep water at the very beginning. Before we start to deal with this, let us think carefully about every issue.

1. where to look for a flat?

Anyone who has had to deal with renting out flats will confirm this principle: location is the most important. It has an impact on the interest in the offer. Choose areas well connected to the Market Square with shops, restaurants and colleges. Potential tenants will look at how long it will take them to get to work or college or to shop quickly in the area.

2. Don't think in your categories

Just forget about it. Although it can be very difficult at first, remember not to look at this purchase from your own perspective. Try to ask each time what the tenant expects and what they really need. Maybe you love large bathrooms or kitchens, but for the landlord it is more important to have a functional space. The larger the apartment, the higher the rent for rent. Many will choose smaller premises, because they spend most of the day away from home anyway.

The same goes for furnishing your home - don't look for equipment that suits your taste perfectly. Try to be as neutral as possible. Contrary to appearances, this is not about fitting in with the trend of minimalism. An interior that is not dominated by a particular style can be easily adapted to the preferences of the current tenant. So don't use intense colours or original accessories.

3. Consider different rental options

First of all, answer the question: what kind of lease are you interested in? You can choose this short-term, tourist- and employee-centred, room-rental, mainly near universities, or rent the entire apartment for a specified period of time - aimed at the widest audience: from students looking for a whole apartment just for themselves, through corporate employees, to families with children. First of all, think about the potential of the city you have chosen to invest in. The type of rental is closely related to the location - for example, employees of the corporation will gladly live in Wrocław on Fabryczna Street, students or tourists in Śródmieście, and families in the secluded Krzyki Street.

4. Don't waste your time waiting

If you want to make money almost immediately, choose those investments that are already completed.

5. start with the local market

Most investors emphasize that it is worth starting from investing in a city we know well. It's also comfortable - if necessary, we can get to the place relatively quickly. It is true that some people take the risk of investing abroad or in a region they do not know, but it is much easier to start in a city that we know as our own pocket. It is also about knowing the opinion about a given district or places where people from our target group are staying.

6. to whom do you want to rent an apartment?

Whoever you want to rent a flat depends on what kind of flats you should look for. Students may want a closed kitchen and no rooms for passers-by, while families will be looking for a place with a garden or terrace. A single person usually looks for a one- or two-room apartment, and an open kitchen is completely sufficient. Today, meals are often eaten outside the home, so a large space with the dining room is no longer needed.

7. look for opportunities, take advantage of discounts

Without a doubt, the most important thing is profit. Look for opportunities and use discount applications. Buy online and browse social media groups about interior design and real estate investment. You will sometimes find lists with specific models of furniture or equipment that can be used to cheaply furnish your apartment.

8) First of all, the agreement

Prepare a good contract in which you will make the details of the rental. Let there be the rights and obligations of the owner and the landlord, even as detailed as the lack of permission to smoke in the apartment, having pets in the apartment, the method of settlement of utilities, the consequences of possible defects, the return of the deposit and the possibility - after prior appointment - of the owner's visit and control of the condition of the apartment. It is worth preparing a contract with a lawyer to make sure that the interests of both parties are safeguarded.

9. verified subcontractors

Work with only one reliable finishing company that meets deadlines and carefully performs the work entrusted to it. Keep an eye on progress. Don't let delays - when you invest in apartments, you'll see that time is money.

10. get to know the market

And above all - know the prices well and follow them regularly. Read price reports from the primary and secondary markets. Check rental offers in your city - especially in those locations where you want to buy (or already have) a rental apartment. Compare prices and stay up to date. Be interested in the real estate market also on a larger scale - observe trends and read analysts' comments.