Tuesday, July 28, 2015

Why to rent apartment in Belgrade?

Renting apartments, flats and other real estate property in Belgrade has always been relatively lucrative job and a source of additional income. Belgrade is one of the top 10 European destinations; business, economic and academic center of Serbia and region, lot of tourist, students, young people looking for work, tourists, business people and other visitors are arriving every day, so there is huge demand for accommodation capacities.  There are several hotels, a lot is being built or plan to built, but new category of accommodation capacity is emerging - private apartments for short stay.

Owners of empty flats instead of holding them empty and make unnecessary costs, decide to rent them. They are investing money to equip and to enable them for offering quality accommodation.

The risks and costs of the owners

The real estate market in Belgrade in recent times experience declining prices, both in sales and in renting. On the other side utility prices and cost for maintenance have rising. Owners cannot keep their flats empty because the cost are more and more expensive, they have difficulty to sell - prices are too low, it is hard to find good tenant on long run who won’t destroy apartment and be on time with the rent. The most expensive apartment is the empty apartment.

Therefore, in recent years many people decide to change model of renting. The owners do not look for tenants in the long term, rather than a flat rented as an apartment for short stay - a day, a week or a month. This form of accommodation is becoming increasingly popular, especially between domestic and foreign tourist and business people. They come in Belgrade for short stay to accomplish some business or visit relatives or business partners, visit faculty, school, to accomplish some duty in the ministry, have medical examination, visit some cultural or sport manifestation, etc. This sort of visitors is willing to pay for good, peaceful and comfort accommodation in the center of Belgrade.

Convert ordinary flats in an apartment for renting

A.    First step for owners is to make renovation and decoration and adopted their flat to apartment for renting.

To begin with, it should be invest in equipment:

       fitted kitchen with oven, refrigerator, small electrical appliances, dishes and cutlery, to be able to prepare food their self
       fitted toilets with modern and new bathtubs and showers, washing machine and clothes drier
       buy good furniture, beds, sofas, cabinets, etc
       buy linens and towels,
       new flat TV with cable or satellite channels
       computer with fast broadband internet and Wi-Fi connection
       air conditioning for summer
       heating for the winter
       parking place can be a big plus
       provide guests with hair dryer and iron, toaster or microwave oven

B.    Second step - advertise and promotions of property in order to attract clients. Internet, Google +, Facebook, Twitter, Instagram and other social networks can help. In the beginning, it may be best to contact companies that are experienced in internet marketing.

C.     Third step After each group of guests, owners should take care of the apartment and prepare for the next group. The apartments must be cleaned, linen be changed, the trash throw out, broken things replaced, etc. The guest gives their grades and reviews so reputation is very important

Prices of renting

If apartment is on a good location, the price is unlikely to be less than 40 Euros per day. If the flat is full with guests an average of 20 days per month, it is easy to calculate - two average Serbian salaries. Keep in mind that Belgrade is a city that abounds in events (concerts, spot matches, fairs), as well as in growing number of tourists who come here during the New Year, Easter, and other  holidays. Then rates are going up, so calculation is even more favorable.

Our advice for real estate owners

Take advantage of your property in the best way. Activate it, let it work for you, be with entrepreneurial spirit - may it turn into a great business idea.