You may wonder what is the benefit of renting out your place, or a room that you haven’t been using much, to temporary guests who visit the Czech Republic. You have probably heard of the booming peer-to-peer home-sharing platform market, on which your friends and neighbors are advertising their spaces, with Airbnb being the most globally known example of it. But you’re still unsure how to rent out your apartment, and whether this is a good idea for you. We have compiled a shortlist of the pros and cons of joining the club.
How hard is it to rent out an apartment? And (why) is it worth it?
Your success with renting out your apartment will depend on a lot of factors, and these are important to consider when you wonder how and if to rent an apartment. Starting with the obvious things: location is incredibly important, but so is the price. Your prospective tenants will look at these variables and weigh in the optimal choice for them. If your property is located in the city center, it will probably attract tourists and professionals, business people, more wealthy digital nomads. It also means possibly shorter stays, but higher profits - many of these visitors will want to be right in the middle of the action when they travel to your country. The timing is also important - some places are attractive to tourists all year round, but some will experience periods of increased activity and some rather slow times. You might want to change your rental length depending on the seasons - to turn out quicker, bigger profit from shorter leases in the summer, and switch to smaller and steadier deals when the summer is over.
What to know about renting out an apartment in Czechia
Since Flatio focuses on short and medium-term rentals, and since it based in the Czech Republic (but you can rent anywhere in the world), it means these types of leases are legal in the country. Even more, for those who rent out their apartment via our website, we have prepared various resources, including legal agreements and contracts you will need when you find the right tenant. These documents are available on our website in various language versions.
Is it worth buying an apartment to rent out in the Czech republic?
If you’re considering buying a flat to rent out in Czechia, do your research about the target groups which you could offer your place. There are several types of places, cities, towns, villages, middle-of-nowhere, where having a property can be profitable. They must be either economically significant, with a number of enterprises, ideally, with international reach, that attracts visitors - business partners, investors, and employees coming for meetings, conferences, exchanges or training. Places with universities are safe - especially when they offer international courses and host international students, your future target group. And any tourist destinations are worthwhile, whether already established or in making: a small town with hot springs, a ski resort, a hut on a great hiking trail, or a house in a picturesque village.
How much money can I make renting out my apartment in Czechia?
Ok, so you know now how to rent out a furnished apartment in Czech Republic, but how much money is actually in it? We encourage you to have a look at properties available in your city, with similar amenities, access to public transportation, and other distinguishing features, to get the best idea. The more energy and creativity you invest in decorating and equipping the space, the better the chances of making a higher profit. And for the detailed calculation we recommend you visit our page for landlords, where is the calculator of probable income.
