Do you have a vacant flat and are looking for tenants?
Although the property market in the Czech Republic recently stagnated, it is now showing signs of recovery in both investment and rentals. Due to high interest rates, many people are forced to choose renting over a mortgage, so demand for rentals remains high.
Rental pricing strategy
Setting the right rent is key to a successful rental.
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Low rent - While offering a lower price than the competition may attract more interested parties, it may also draw less financially secure tenants. Not to mention the lost income if you rent below market value.
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High rent - Conversely, if the price is too high, you may wait unnecessarily long for someone willing to pay it, losing potential rental income while you wait. In that situation, it could be more worthwhile to rent it out straight away for less and already have, for example, two months’ rent in hand. This strategy may pay off if the tenant stays in the flat long term, but it is also worth considering whether such a high financial commitment will remain acceptable for the tenant in the future, or whether they may wish to move somewhere cheaper, leaving you to find new tenants.
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Ideally set rent - The rent is competitive and does not put off too many interested parties; ideally, the flat will be let within two weeks.
Guaranteed rent: Security for owners
For property owners who decide to let their property, a guaranteed rent service can be beneficial. This service ensures regular rental income even when the flat is vacant or tenants fail to pay.
Comprehensive service for property owners
Bohemian Estates International offers a comprehensive range of services for property owners, including guaranteed rent. Property owners do not need to worry about finding tenants or handling rental-related administration. This gives them the certainty of a regular income, a major benefit during periods of market instability.