Availability of free living space is always a great opportunity for additional profit, because the number of people who want to rent an apartment in Moscow far exceeds the number of people who are ready to rent it out..
In 2005, the residential real estate rental market did not undergo significant changes in the structure of demand for housing. The most popular, like the last few years, are 1-2-room apartments with rents up to $ 500 per month. The demand for them is 3-5 times higher than the supply. Some equilibrium of supply and demand occurs at the level of $ 700-800 per month.
The most expensive apartments are located in the Central, Western and South-Western districts.
Housing similar in size and quality of repair in other districts is somewhat cheaper. Housing in the Eastern, South-Eastern and Southern districts is somewhat cheaper, although the demand for apartments here is not at all lower than in the above-mentioned.
Today it is becoming more and more popular to purchase housing for its subsequent renting out, because an apartment is a good equivalent of money, protected from inflation.
Also, its size depends on factors related to the apartment itself: layout, spacious kitchen, furnishings, view from the window, quality of repairs, etc..
Moreover, it is imperative to repair – a “killed” apartment with “grandmother’s” furniture can lose 25-30% in price, and sometimes even more. And most importantly, respectable people will not remove it, and this increases all kinds of risks. When making repairs, one must adhere to the golden mean: too expensive repairs will not justify themselves. But a light cosmetic one – painting ceilings, changing wallpaper – will cost $ 500-1000, but it will pay off in 2-3 months. The lack of furniture in the rooms can reduce the rent by 10-15%, but the lack of kitchen furniture and a refrigerator will affect the price more seriously.
But it’s also not worth clogging the apartment with unnecessary junk. Such furnishings can even lower rent..
The way the property is rented also affects the success of the entire venture. An independent search for clients can lead not only to the “downtime” of an apartment (this reduces the annual income by an average of 10-15%), but also to other unpleasant things in the form of huge telephone bills, delays in rent, damaged furniture.
Can you provide some tips or guidelines on how to go about renting an apartment? Specifically, what factors should I consider before signing a lease, and how can I ensure a smooth and hassle-free rental process? Any advice or suggestions would be greatly appreciated!
Could you provide some tips and advice on the process of renting an apartment? What factors should I consider when searching for a rental property? Are there any important legal aspects or documents I need to be aware of before signing a lease agreement? How can I ensure that I find a trustworthy landlord and avoid scams? Any insights or guidance would be greatly appreciated.