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12 factors that make up the cost of daily rent of real estate in Batumi

Many property owners believe that simply having a free home is enough to make a profit. But it's not. It happens that housing is located in a beautiful new prestigious apart-hotel, but no one needs it. And the owner simply goes into the red, as he pays the developer monthly for the maintenance of a square meter. Here we will show you 12 factors that make up the cost of daily rent of real estate in Batumi!

Example below: price per night in mid-August 2023 in a new area with new buildings and apart-hotels Orbi. There are a lot of offers for one point.

orbi in batumi

Or another example: the price per day in mid-August 2023 in the old city of Batumi is on average 15-20% more expensive and there are very few free offers left.

old batumi

Before blindly believing that real estate will be successfully leased even in the season, you must clearly define your target audience and specific dates for the season (this is not 3 months, sometimes less).

Many owners deliberately lower prices to attract more guests. But how beneficial is it for you? Too low cost of daily rent can leave you either at zero or in the red. So in addition, you will get furniture wear. In order not to make a mistake with the final rental price, analyze the following factors:

  1. District of the city (old city, new boulevard, remote in the mountains)

  2. View from the window (city, mountains, sea, neighboring building, construction site, etc.)

  3. Number of beds, rooms, room area, floor.

  4. Interior and design (modern, fresh, light and minimalist or granny).

  5. Proximity to event venues (concert venues, stadium, attractions, etc.).

  6. Developed infrastructure (presence of shops, sports and fitness centers, SPA, restaurants, cafes, playgrounds, parking lots).

  7. Functionality and equipment (household appliances, dishes, bed linen, towels, high-speed or slow Internet, etc.).

  8. Condition of the house (historic building, ordinary residential complex, apart-hotel with reception or Khrushchev).

  9. The cost of a similar property in your location.

  10. The cost of additional services (cleaning, laundry, monthly fee for the elevator / KU and other services).

  11. How much are your man-hours worth if you manage your property yourself and not through a management company.

  12. What percentage (%) of net income are you willing to set aside for depreciation in the event of an urgent replacement of furniture.

The location of the apartment plays a huge role. For example, real estate in an old city can cost significantly more than in a new area. The central location provides access to tourist spots, restaurants and entertainment venues, which enhances the attractiveness of your rental property.

You need to bring the apartment in perfect condition, update the interior and furniture. The appearance of the house also plays an important role in attracting tenants. Today, aesthetics has become a key factor in successful rentals.

Ready to earn more on short-term rentals of your property? Contact us for more information on our short term rental trust services. We will help you succeed and increase the income from your property!


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