The top eight key factors for optimal rental
2. Exterior shading & air conditioning
1. Efficient floor plan
Functionality is more important than pure size: When an apart- ment ideally covers all functions from sleeping to working and limited common areas are required, the total living space is gen- erally smaller, but the square metre rent can be slightly higher.
Shading options, ideally outside screens or venetian blinds, have become an important decision criterion and provide heat as well as sight protection. Apartments on upper floors, and especially on the top floor, should at least be equipped with the technical connections and preparations for the installation of air conditioning.
3. Sufficient open areas & storage space
The strong demand overhang in the rental apartment segment ensures that (almost) every unit can be let over the short term. However, an investment apartment should meet tenants’ demands as best as possible to generate sustainably optimal results. EHL’s rental specialist, Josef Michelfeit, has compiled a list of the eight most import- ant key factors that define a good investment apartment.
Today, open space is taken for granted in new buildings. Even a small balcony with nearly two sqm has a certain value, but open areas of roughly five sqm or more are optimal. Tenants are unlikely to accept a higher rent for much larger areas. In addition to open areas, cellar compartments are a must, while smaller storage areas in the apartment for frequently needed items are desirable.
4. Practical kitchen
The stove should have four hobs, while a dishwasher in a two-room apartment can be smaller than standard. A large dual refrigerator-freezer can bring numerous plus points with prospective tenants at relatively low additional expense.
5. Mainstream instead of extravagance
6. Compact units
From the flooring to the kitchen furniture: Every stylish luxury is more an expensive rental obstacle than a plus point. To- day’s market calls for understated furnishings that reflect the taste of a broader target group.
Tenants compare the total cost and not square metres. Com- pact units (two-room apartments with 38 to 45 sqm, three- room apartments with 55 to 70 sqm) can therefore be rented more profitably. Lower operating costs, for example through energy-efficient building technology, are also reflected in higher earnings.
7. Public transportation or parking spaces
8. Separation of short-term rentals
The importance of parking spaces has generally declined in areas with good access to public transportation. Garage spac- es are extremely important, however, where these transport options are limited, especially for investment apartments in the suburbs. For investment apartments with three rooms or more, investors should consider purchasing a parking space, even in locations with good connections.
Neighbouring units with special permits for short-term rental are generally not welcomed but accepted by potential tenants. When the units are separated (e.g. a separate floor for short-term rentals), almost no one is disturbed.
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