Renting out your apartment or house?
Everyone knows the property market is a hot topic right now, and will be for a while. Pretty much any property will get rented for the right price, if it's a small studio, or a an apartment in a noisy area.
Property is in such high demand prices are sky high, however that does not mean you should heavily overprice a property just to get some extra cash in your pocket. If the place is very highly finished and furnished then it is understandable to a certain point. Asking 1500 euros monthly for a normally furnished 2 bedroom in Marsaskala won’t get you anywhere and you will end up losing the money rather than making it.
It's always best to ask a local letting specialist for an evaluation and be open to his or her suggestions! After all it will add value to your property and allow your place to get rented faster.
Purchasing a new place is like buying an expensive new toy, you would be extremely proud of it, and be very picky on who to allow to live there, which is understandable. After all no one wants their brand new apartment trashed right? However an open mind is sometimes needed. As an estate agent we sometimes come across persons who wish to lease their 3 double bedroom apartment for a nice amount of money monthly. Depending on the area, it's usually not a problem but if the restrictions are somewhere along the lines of “Only want a couple living there” it makes the rental very very difficult. A couple wouldn't lease out a large three bedroom. It's a waste of money for them!
A few guidelines for pricing:
Let’s take a property in Sliema as an example: These points increase the property value if present:
Fully air conditioned.
Outside space (a BIG plus in Sliema)
Private access to roof
Double bedrooms or single bedrooms
The more of these you tick, the higher the monthly price can be.
If you have any questions on how much your property is worth, call us, we would be more than happy to help and get it rented for you! We will also come to you if needed!