For landlords, rental income is one of the most important sources of income. However, there are many ways to increase the amount of rental income landlords can earn. In this blog post, we will explore some of the strategies that landlords can use to increase their rental income and maximize their profits. We will discuss tactics such as increasing rent, introducing amenities, and marketing the property effectively. With the right strategies, landlords can significantly increase their rental income and enjoy greater financial security.
In Paris, demand far exceeds supply and rents can be very volatile. It is possible to quickly estimate a rent based on an average cost per square meter. However, it may be wise to contact an expert who has a perfect knowledge of the market at any given time. The location of your property is of great importance in the estimation of the rents that you can collect. Tools are available to allow you to have an accurate estimate in a totally free way directly online.
There are many online resources that can help you save time and money. Upper Key is your ally in managing your furnished rental property. You have nothing to manage, the rents are stable and assured with rental leases that can last up to 3 years. Enjoy the stability of a regular income with no management requirements and the highest possible return.
The demand for smaller flats in Londer is high among working professionals. Studio apartments are highly popular in London, where lots of working professionals come to live. Renting out an apartment in London requires a lot of research and work to ensure that the place is in top shape. As a landlord, you will be responsible for making sure that the property meets health and safety regulations. You may also need to rent out the flat furnished or h
ave it redecorated in order to make it more attractive to potential tenants.
Maximise your profits by looking at the rental value of similar properties in the area. Renting an unfurnished flat lowers the risk of damage, and allows tenants to choose what they want for their home. There are lots of things that you can do to raise the rental value of a property, such as fitting smart thermostats or underflooring. There are several insurance policies that you can take out on your studio flat to reduce the risk of you losing out on profits. Transferring your mortgage to one with a lower interest rate if you can, for example, might be worth looking into as this will reduce how much you have to pay monthly.
With this type of insurance policy, if your tenants get into rent arrears of a certain period such as one month, the insurance will pay out. In London, there is a limit of six weeks on short-term lets, unless you have the appropriate permission from the council.
With the right approaches, completely remote management of a short-term rental property is a work that is doable. It will be simpler to successfully manage the property from anywhere while assuring a consistent flow of cash and satisfied guests if you establish sound business practices. Long-term lets are more frequently associated with rental properties that renters use as their primary residence. iRenting users rely on technology to find and rent a property. Self-check-in may provide more peace of mind, but it is frequently more expensive.
An alternative is to hire someone to welcome your visitors and handle the check-in process. A thorough welcome package will lessen your need to get in touch with you for information during their stay. Choose a dependable and trustworthy property care business if you want to maintain a short-term vacation rental. Choose a maintenance business that provides a 24/7 service because you need to know that when you are not present, the individuals you have chosen are prepared to handle any requests at any hour of the day or night. With new technologies like smart locks, managing a vacation rental remotely is easy.
Start renting out your property remotely right away if you have a strong Wi-Fi connection. Give your property to a short-term rental property management firm for full management if it seems like too much work.
AirBnB explains everything you need to know with regard to the tax regime applicable on Airbnb and taxable Airbnb income. The rental of a furnished property in France generates income taxes AND social security contributions. It is imperative for you to know the Airbnb tax return inside out in order to maximize your profits. The majority of profiles on Airbnb are those of owners with less than two properties, and not companies. The tax regime remains the same for both types of profiles, as long as the annual earnings do not exceed 23,000 euros.
If this is not the case, another scale becomes active and you are advised to consult an accountant. If your annual income from an Airbnb rental does not exceed a certain threshold, the latter are exempt from tax. This exception is only authorized in this specific case where the furnished rental concerns only one or more rooms of your main residence. Please note, however, that you are still required to declare your income for tax purposes. If you decide to declare your Airbnb income online, you will have to wait for step 3 before you can do so. The difference between the Micro-BIC and the real regime is the disappearance of the 50% reduction in the Micro BIC's taxable Airbnb income.
Short term letting involves renting out a property for shorter periods, from a few days to up to six months. Compared to long-term rentals, short term lets command a higher price for the convenience. Short term letting in the UK is increasing in popularity, especially in London where profits are high. There are lots of benefits for landlords who are considering entering the short term rental market. Short term house lets can be used for various purposes, including listings on platforms like Airbnb to be advertised to guests or tenants looking for a temporary place to stay.
The wear and tear is likely to be less and easier to spot quickly compared to long-term rentals. The main disadvantage to short term renting is that there is typically more work involved for landlords. Start-up costs are often higher since short term flats to rent are typically rented fully furnished, unlike long-term rental properties where tenants will usually provide their own furnishings. There are several things to check before you can advertise your property for short term letting. Find out about any restrictions in place by your local council.
Make sure that your property meets all necessary health and safety requirements, before advertising it as a short term rental. If the property is still mortgaged, double-check the mortgage terms and conditions. An an Airbnb concierge service can help you set up and run a short term rental business.
Brussels is a fantastic city to visit, to live in or to invest in. Offering property prices significantly lower than other major European capitals, is Brussels now where the smart investor is expanding their portfolio? UpperKey is the all-in rental management service for renting an apartment in Brussels. In Belgium, even a short-term lease can last up to 3 years. Long-term contracts last from 9 to 25 years and impose less severe penalties for early release.
The bulk of furnished apartments in Brussels are those with a service package. Belgians typically a nation of homeowners, only 30% rent their property. The lowest-priced properties currently stand at just over £2k/m2. A three-bedroom apartment in the city centre will achieve an average rent of around £1.8K/month. UpperKey offers the generous guaranteed rent system Brussels apartment owners need, within current market prices.
The heart of Brussels operates around Grand Place and has the highest number of visitor attractions. The city centre is prime estate for short stays or weekends, with excellent links from airport through to main train station. Sablon is a top choice for those seeking less of the typical tourism and more of the real Brussels. Les Marolles is one of the oldest areas of Brussels. Avenue Louise is a more affluent option for those travelling on a budget.
Ixelles is an affluent 'village inside the city' with chic townhouse living and student-friendly nightlife. Brussels broke all records for tourism in 2019, with 9.4 million guests staying in the city. UpperKey offers one of the most competitive guaranteed rent practices in Brussels. Our property rental programmes are working for apartment owners all over the capital. The additional bonus experienced by our clients, is the amount of time they recover when passing the physical duties over to our team.
UpperKey offers guaranteed rent programmes in Rome, Paris, London and a selection of other capital cities throughout Europe. We take care of everything from the upkeep, service, marketing and presentation of your apartment. You don't have to lift a finger. Rome is the 3rd most visited city of Europe and the 14th worldwide. Apartment prices are appreciably lower than those of London and Paris.
International buyers are showing great interest in new-build residences. Renting an apartment in Rome is also lower than many of its competitor locations. Average rent in Rome is about €20 per square meter - about €1200 per month. A three-bedroom apartment in the city center will achieve an average rent of around £1.5k/month (€1.8k). The lowest-priced properties currently stand at just over £3.4k/m2.
Rome is packed to the brim with stunning scenery and a fascinating culture all of its own. Do you need city center or suburbs? What can the visitor or those relocating to Rome expect? It all depends on which corner of this wonderful world you choose to explore first. Rome public transportation is very well organised.
It's dense with lot of bus lines and contains of buses, trams, rapid transit lines, light rail lines and suburban railways. Trastevere, Prati and Testaccio are all within walking distance from the center of Rome. Testaccio is a mecca for young professionals and expats. Montverde is another sought after location for families in Rome. Balduina is quiet and peaceful, with fewer restaurants and shops to keep the bustle of the city centre at bay.
Monti is an up and coming area of Rome, right on the doorstep of Termini station. It's a great place to drop into Rome, dump your bags and jump straight into the city. The most popular tourist attractions are the Vatican museums and the Colosseum. UpperKey's standard policy offers one of the most competitive guaranteed rent practices in Rome. The average stay lasts only 2 or 3 days, making the city a perfect mini-break or short-stay getaway. We are listed in travellistings.org's Greater London Vacation Listings.