Before to let your apartment to rent for each owner it is important to decide whether to rent it daily or hourly. To do this, you need to understand the current market trends, price increases, benefits and all possible risks. So the investor will be able to get the most profitable option, and calculate how much it will be possible to earn in the first stages.
If we consider the pricing policy, then the option of daily rent is more profitable. If we take an affordable segment, then in Athens the cost of renting a studio is 20-30 euros per day. The owner, taking into account the maximum occupancy of the apartment, can earn up to 720 euros per month, without paying taxes. Hourly rent can bring the home owner 280-370 euros per month, even with a large number of offers for economy housing, class comfort in the capital. Thus, the first option for renting an apartment is 2-3 times more profitable. But business class real estate will make it possible to earn 4-5 times more. However, this option will not work for everyone.
Who is daily rent suitable for?
This option can be regarded as a profitable business. The daily type of rental is suitable for those who want to make a permanent profit and are ready to solve all the problems that arise with the settlement, preparation of the apartment, cleaning the apartment. A realtor and a cleaning company can help in this matter, but their services will cost a third of your income.
Choosing an apartment for daily rent
When choosing an apartment for rent, you need to take into account the season, the maximum flow of tourists, the location of the apartment. Ideally, if your accommodation is located in the city center, there is a convenient transport interchange nearby. In this case, both inexpensive housing and business class are well suited. The peak season is usually 70%, or 20 days.
There are several main advantages of daily rent:
- Constant payment.
- Less demands from tenants.
- Favorable rental price.
- There is no big obligation to the tenant.
- A fairly high level of constant competition.
- Daily search for clients.
- Wet cleaning every 2 days.
- Utilities are always paid by the owner of the property.
- The owner also pays for repairs.
- Obligatory complete set of furniture, dishes and household appliances.
- Income volatility in the off-season.