How to get the most out of your apartment rental

To get the most out of an apartment rental is the principal objective of all the owners that decide to rent a housing.

A goal that, to achieve, precises of planification an previous aspects to take in consideration. But… How to do it? In KM2 Real Estate Services, we have prepared the finally guide that will help you to get the most out of your apartment rentals.

Tips to get the most out of your apartment rental

Choose the correct rental typology, know how to reduce the risks involved in a lease – like default – or know the deductible expenses is essential to obtain a high profitability.

We analyze all the important aspects to take in consideration!

1/The selection of rental tipology

Choose the correct rental model is essential so that the annual profit is the expected.

Are different the elements that will help us detect if it’s better to consider a long-term rental or a short-term rental. Some of them?

• Location: If it consists in a apartment in the center of the city or on the contrary is near the sea or the mountain.
• The zone: If the apartment is near the essential services like school or hospitals, if it’s well communicated…
• The finishes: If it consists of a new construction, second hand or if its precises renovation.
• Characteristics and facilities: If it counts with elevator, parking, outside area, pool, etc.
• Use that owner give to the apartment: If the owner enjoys it in some periods in the year or on the contrary is an apartment that is never used.

2/ Choose a good tenant profile

In function of the kind of apartment and the ubication, is important to select correctly the kind of tenant. Is necessary to consider if is more convenient to bet for families that can give us a long stay prevision or students that give us a high flexibility.

Opt for economically solvent profiles will be essential to avoid default problems in a long and short term.

3/ Ensure they loyalty

If we want that our tenants stay for a long time in the apartment, will be necessary to offer them the huge commodities possible for make them feel comfortable and not missing anything that can make change apartment in a short term. For example, that the apartment counts with dishwasher, included parking, well equipated bathroom…

Are aspects that in a first moment can be ‘’overlooked’’ but in passing time a tenant can miss.

4/ Calculate profitability

Before to rent an apartment, is necessary to know the net profitability that is going to bring us; having in count the additional taxes and the deductible taxes.

First step? Having an estimation of the rental apartment price in the zone. To know it in the moment and in a totally free way, in KM2 we put in your disposition an online apartment appraiser. In less than 2 minutes you can know the approximate rental price of your apartment.

5/ Know deductible taxes

Rent an apartment have several benefices to the owner. In the Income Tax Return, you can deduct some expenses such as: expenses of the obtaining, interests, community of owners, expenses of repair, IBI, insurances, etc.

There is also a reduction of 60% in the net yield if the tenant uses the property as a habitual residence.

Having the advice of professionals in the sector to guide you in the choice of each of the above aspects, can be of great help.

Is your next goal is to rent your apartment in Barcelona or Madrid? From KM2 Real Estate Services we will be happy to help you get the maximum profitability from the first moment.

Shall we start?