Is it profitable to rent an apartment by the day: the pros and cons, where to start

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Many people who own several properties are thinking about the possibility of generating income by renting out an apartment. Housing can be rented by the day or for a long period. Often, it is the provision of apartments for a day or several days that is chosen. Is it profitable to rent an apartment by the day? This type of income has both pluses and minuses. If you formalize the activity, properly prepare the apartment and find tenants with the help of relevant methods, then there will be no problems with making a profit.

What is the attraction of apartments for residents?

Citizens who come to a city for a few days often pay attention to apartments that are offered for rent for a short period of time. To do this, they look through the ads "rent an apartment for rent." The attractiveness of apartments for future residents lies in several advantages at once:

• the cost of housing is much lower than using hotel rooms;
• availablethe ability to find an apartment in almost any area of the city, therefore, housing is rented, located directly next to the right place;
• the apartments always have a separate bathroom and kitchen, which allows residents to cook food, so they save money on visiting catering establishments;
• citizens make their own daily routine, so they do not depend on the opening hours of any hotel.

Due to the above features, many people are interested in apartments, not hotel rooms.

Benefit for the owner

Many people who want to start a business related to rental housing, think about whether it is worth renting an apartment. This process has many benefits, including:

• if the housing is located in a large or resort city, then you can be sure of the constant availability of customers;
• in large regions, the cost of an apartment per day is considered high, so often the profit from such activities reaches 90 thousand rubles, but if the apartment is partially occupied, it can even drop to 20 thousand rubles;
• on weekends or holidays, you can increase the cost of rent, which brings additional income, but there will always be tourists who want to rent a house for a few days;
• it is optimal to use this way of earning if the apartment is for sale, so that it does not stand idle, it is advisable to provide it to residentsdaily;
• money received from tenants not only increases the income of a citizen, but also allows you to pay for utilities, carry out repairs or cope with other large expenses;
• if necessary, you can refuse to work at any time if you need an apartment for other purposes, but if there are already tenants who have signed a contract for a long-term lease, then there are almost always certain difficulties with their expulsion.

With the help of the above positive parameters, you can easily understand whether it is profitable to rent an apartment.

Business Disadvantages

There are also some negative aspects of providing housing for rent for a day or several days. These include:

• there is always the possibility that tenants will turn out to be unscrupulous or fraudulent, therefore stealing property or destroying housing;
• often there are problems with the delivery of the object, so for several days housing may be empty, which leads to a significant decrease in earnings;
• often residents are rowdy or behave illegally, which leads to problems with neighbors who call the police, so there are conflicts with law enforcement.

Is it profitable to rent an apartment? Such activity does have many undeniable advantages, but at the same time it is not without some disadvantages that must be remembered before providing housing to unauthorized persons.

The right approach toactivities

If you correctly approach the delivery of housing, you can minimize various risks and increase profits. How to rent an apartment by the day? For this, the following recommendations and rules are taken into account:

• necessarily an official written contract is drawn up with tenants, which lists the rules for the use of residential real estate, and also indicates responsibility for their violation;
• in the process of moving in citizens, an act of acceptance and transfer is formed, which specifies all the parameters of the apartment, its technical condition, existing furniture, the condition of plumbing fixtures and other important facts that will be checked after the tenants decide to move out;
• the exact amount of the rent and the period for which the property is occupied by specific clients are prescribed.

Such actions will avoid some problems. It is advisable to live near this apartment at all in order to check tenants if necessary or to quickly go to the place in case of conflicts with neighbors.

How to earn the maximum amount of funds?

Is it possible to rent an apartment by the day? This activity is allowed only when the relationship between the tenants and the owner of the property is formalized. Therefore, the owner of the apartment must register with the Federal Tax Service. For this, it is important to choose an individual entrepreneur, and the simplified tax system or UTII is ideal as a tax regime.

In order for the activity to bring as much money as possible, the following recommendations are taken into account:

• an effective advertising campaign is being carried out, for which an ad "I will rent an apartment without intermediaries for daily rent" is formed on various ad sites or in free print media;
• the rental price is selected depending on various factors, which include the location of the apartment, existing repairs, infrastructure development, good parking and other parameters;
• when setting the price, you need to focus on the cost of similar objects on the market;
• before starting work, it is recommended to make a high-quality and attractive repair;
• it is advisable to install numerous furniture and appliances in housing, so a washing machine, microwave and refrigerator are considered mandatory;
• The appearance of plumbing fixtures must be perfect.

It is advisable to create a separate group on social networks where specific real estate will be offered for rent. In this case, a graph will be visible directly in this group, allowing potential tenants to conclude a deal with the owner.

Which apartments are in demand?

Many property owners are wondering if it is profitable to rent an apartment by the day. Forums on the Internet allow you to get the most useful information from direct landlords and tenants. Based on the available information, it is possible to understand which apartments are in the highest demand. These include:

• the most profitable to rent one-room apartments, but oftentenants also require two-room properties;
• it is required to leave ads on numerous Internet sites, and the text must certainly be completed with numerous photographs, allowing tenants to see exactly in what conditions they will spend a day or several days;
• a lot of attention is paid to high-quality cleaning, because if guests feel comfortable and cozy in the apartment, they will advise it to their friends or other people on the Internet;
• luxury housing is in demand, but its rent is considered not very profitable due to high maintenance costs.

Many property owners prefer to rent an apartment by the day through an agency. In this case, it is not required to spend time and effort on finding customers, but some part of the profit is necessarily transferred to the intermediary.

What are the housing requirements?

Is it profitable to rent an apartment in Moscow? In any city, such activities can bring really high income if the property owner takes into account some of the requirements for his apartment. These include:

• quality repairs are carried out in advance, as the facility must comply with numerous sanitary standards;
• in housing, various elements must be purchased that make it possible to live comfortably in an apartment, and this includes the installation of appliances and furniture, plumbing fixtures and other elements;
• when creating an adinformation about the size of the property, the number of rooms and the furniture available is required so that tenants can immediately assess whether this option suits their requirements;
• if housing is in poor condition, so its use may cause danger to citizens, then these facts will certainly be indicated in the acceptance certificate so that tenants take into account such features of the property;
• the transferred object according to the documents must be listed as a residential premises.

It is not allowed to rent housing represented by utility rooms, various basements or country houses. Additionally, it is forbidden to use arrested or emergency housing for these purposes.

How to rent an object for rent?

Whether it is profitable to rent an apartment by the day, each homeowner determines for himself. For this, it is taken into account in which city the property is located, what size and repair it has, as well as what other features are available. If the owner decides to engage in this type of activity, then he must competently perform the procedure. It is divided into successive stages:

• initially, housing is put in order, for which cosmetic repairs are made, plumbing is purchased and installed, furniture and household appliances are bought;
• an advertisement is given for the lease of an object, for which you can use newspapers or various classifieds sites on the Internet;
• the optimal price per day is assigned;
• afterwhen the tenant is located, a lease agreement is drawn up, which indicates the period during which citizens will use the property, as well as the rental fee for the facility;
• after inspecting the apartment, an act of acceptance and transfer is drawn up and signed;
• handing over keys to housing to tenants;
• after they move out, cleaning and minor repairs are carried out in the apartment, if necessary, after which you can again look for new tenants.

The search for tenants is ongoing, so that there is no such situation when the apartment remains empty. Is it profitable to rent an apartment in Moscow? If you take this process seriously and responsibly, you can get a really high income with minimal effort and investment. However, it is important to take a copy of your passport from tenants so that you can locate them through the police if necessary.

What risks do you face?

Many homeowners are wondering if it is profitable to rent an apartment, but do not take into account the risks they face. These include:

• difficulty in finding customers, and usually such risks arise in small towns, since the demand for apartments for a day or several days is considered low, so often homeowners have to deal with the fact that apartments are empty;
• need to cut prices by lowering prices by competitors;
• depreciation of repairs, furniture and household appliances in the apartment,since due to the fact that many people use items, they quickly fail and lose their attractive appearance;
• opportunity to encounter scammers who will not pay the price specified in the contract or even steal any valuables in real estate;
• occurrence of quarrels and conflicts with neighbors, which often leads to problems with law enforcement;
• flooding of neighbors, and it is often impossible to recover the required amount to cover damage from tenants, so the homeowner has to spend his own money.

Therefore, a competent and detailed contract is necessarily drawn up with the tenants, containing all possible risks. If there is no opportunity and time to independently look for tenants, then it is advisable to conclude a contract with a special agency. By evaluating the above risks and difficulties, each owner of the object can independently decide whether it is profitable to rent an apartment by the day. Feedback from landlords is mostly positive, although there are often negative repercussions.

How to prepare housing?

Any person who decides to earn money by renting out housing for a day or several days, wonders if it is profitable to rent an apartment by the day. Forums on this topic contain information on how to make your home more attractive to potential tenants. For this, it is important to properly prepare the object before arrival. That's whyactions performed by the owner:

• minor cosmetic repairs in progress;
• checking the performance of plumbing and furniture;
• thorough cleaning in progress;
• household chemicals and personal hygiene products are updated;
• the bed is being made;
• preparing a memo indicating the rules for the use of housing;
• property inventory being compiled.

With proper preparation, you can minimize the risks.

Conclusion

Rental housing is considered a popular form of income for many homeowners. Such activity has many advantages, although it is not without significant risks.

Before transferring the object to tenants, it is important to properly prepare it. To do this, cleaning is carried out and the necessary furniture and plumbing is purchased. The relationship between the two parties is formalized by drawing up a contract.