Tips on Long Term Rentals
When considering purchasing in Bulgaria there are many people who would love to spend a month or more in a rental home so that they can take their time to look for their dream home. The needs of someone renting a property for a longer term - months rather than weeks, is somewhat different. Things which may be considered non-essential for a couple of week's holiday may become vital for many long term rentals.
If you rent out your property in Bulgaria to holiday-makers you might want to lengthen your letting potential into the off-season and this often requires offering different facilities to attract a different type of lessee. The benefit of a long term rental is naturally the increase and stability in income. Whilst longer lets may command a lower price than those limited to the holiday season only, the regular monthly income over a longer time period can more than offset this and leave you with a greater profit margin. If you are considering promoting your property to those who might be looking for longer rental terms, there are many easy things you can do to attract more interest in your rental property for rentals lasting one month or more. Quest Bulgaria lists some key pointers to help you extend your rental season.
Whilst you may not have to offer linen to someone wanting a long term rental you need to make it clear at the beginning if linen is included or not, and if so, is there a charge for this. If you do supply linen then do make sure that the duvets are of a high enough tog rating to cope with winter temperatures and that there are plenty of them. If you do decide on supplying linen then buy the best 100% cotton you can to make sure it withstands regular washing, starching and ironing.
Warm and cosy
There is nothing worse than being cold during the winter months and Bulgarian winters can be quite unpredictable. Ensure your property is suitably heated and equipped for colder months with adequate heating in all rooms.
Wood burning stoves are very popular as they are not only economic but look good. Don't forget to have some form of back-up heating as well so that heating can be instant whilst your tenants are lighting the log burner and waiting for the heat to kick in. Central heating is naturally much appreciated but even so, a log burner or open fire will be very popular with potential tenants and many believe that it gives out more heat.
Redefine the spare room
Why not upgrade a spare room and reclassify it as an office? A spare bedroom made into an office will be much appreciated by those who want to connect to the internet or who need to work from home. Just adding a desk, chair and giving the room a general tidy will also make it more appealing to those looking for somewhere to rent.
A fixed line and internet access are often a necessity these days for anyone considering a long term let. Sales can be lost if you cannot provide a stable and fast internet connection. Many long term tenants need this kind of communication to keep in contact not only with family and friends but to search the internet for property to buy. You should agree with the tenant on a suitable package with them in advance and organise the installation of telephone lines beforehand.
To allow pets or not? This is quite a big question and of course a personal choice. However, you are opening yourself to more potential customers if you accept pets. A word of warning - all pet owners say their pets are well behaved. Perhaps putting a statement such as "pets allowed by prior agreement" will give you a get out clause so that you can use your discretion. Pets usually cause no problem but
owners have been left with scratched, chewed and damaged furniture. It is wise to ask for a non-refundable deposit to cover any damage.
If you have barns, stabling or grazing it is worth pitching those people who have or want horses. It is difficult for people with horses to move them and find suitable accommodation.
When baby comes too...
If you have a property, which is suitable for families with babies, then do invest in a high quality cot. They are not very expensive and can even be placed in a one-bedroom property. Many families are moving over to Bulgaria and it is vital that you tap into this end of the market by providing them with the facilities that they need.
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