There are quite a few people who have properties in our country, but for one reason or another can not use them. These can be holiday properties around the sea or the mountains or those that have been used for housing, but for some reason people no longer live in them. So they have an empty property, on which they often pay taxes and maybe maintenance fees, and logically at some point the question arises whether they can not realize any income from this asset? In this article, we have looked at the basic steps of what anyone in such a situation can do.
The thing that is absolutely essential step which will only mention is that the property must be maintained. Whether we are talking about houses for rent or apartments for sale, it is important that the property itself has the necessary repairs and maintenance. There is nothing sadder than a quality but neglected home.
Тhink about if you want to part with your home or not
This is the first and most important decision you need to make. Do you want to make a sale or do you just want to rent the apartment? If the answer is the second - are we talking about short-term or long-term rental? For example - you have an apartment in a new residential complex in Sofia. Your old home is empty, but you don't want to part with it. Would you let it out to tenants for months or even years? Here is another situation - you have a holiday property on the sea, in which you go for a month during the active season in August. Would you give it for overnight stays to tourists? Each such solution has accompanying details on it such as cleaning, maintenance, repairs and the like.
· Explore the market
Once you have decided what to do, you can look at what is happening on the market - what properties are offered, at what prices and see what competition you are facing. This is especially true if you are going to offer a property for rent. This way you will be able to get an idea of the overall picture.
You can view our offers for rental properties.
• Seek specialist advice
There is another intermediate step, which is related to consulting a specialist. After researching the market, questions will arise in your head. No need to guess. Look for a good broker to give you advice. This will save you a lot of headaches and wrong steps.
• See if you need to make any improvements to the property
Before you start actively offering for sale or rent your real estate, it is good to see if there is a need for any improvements to it - painting, replacement or repair of electrical switches and sockets, if everything is OK with plumbing and other small details. Make sure there is no mold anywhere, especially if you no longer live in the home. Once this step is available, you can actively start offering the luxury property for rent or sale.
