Jun 15, 2010

How to Set your Rental Fee

International Investing Series: Part 3 
Congratulations—you’ve made your investment. How do you set your rent to attract the optimum tenants and maximize your profits?

It is important to know how competitive the local rental pricing is once you have made your real estate investment (see earlier posts on mortgages and renovations if you missed them). You will be joining businesses and individuals who have been in the market longer than you have. While you cannot replicate their experience overnight, you can educate yourself on issues, trends and news. 

Here’s an inside look at how to become a rental pricing expert:
Scroll Through the database:
Research home prices and rental fees on our website. Browse our rental properties in Budapest, Prague, Moscow, Warsaw or Bratislava to get an idea.

Chat with a personal consultant:
Call up a real estate agency to discuss fair rental prices and even visit homes that may be similar to the one that you are going to list. Make a free call to our Budapest office here.
For other office contacts, click here.

Know the Finances
Visit the local banks and see what is happening in terms of loan volume and required down payments. If language is slowing you down, contact a local At Home office and we will happily advise you.

Make our Blog a Top Read
Check back here daily! We’ll be posting real estate news and information for expats in Central Europe.

You can use this knowledge to avoid paying too much and perhaps even negotiate a better deal. Education is great preventative medicine against overpricing or under-pricing your targets.
See this Moscow rental by clicking the photo and searching offer ID 49738
Making real investments
When investing in property besides your primary residence , the most important rule is to practice basic business principles. Your goal is to make a profit by selling the home for more than it cost at purchase. When renting, you are relying on rental income to subsidize a fair amount of your mortgage. Greed and dreams of quick dollars will likely lead you to trouble, but making logical, business-focused decisions should allow you to extend your real estate holdings outside of your home.

Rents and Cost of Living in Budapest, Prague, Moscow, Bratislava, Warsaw

Current Post: 3 of 3 in International Investment Series
Part 1: Select Mortgage that Maximizes Profits
Part 2: Renovating Your Investment

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