Is it worth buying a flat to let?

Many people decide on various kinds of investment. One option is buying a property to let. In Poland, still very few people choose this solution. Why? We have little information on the subject, and we are also driven by fear. Find out whether it is worth buying a flat to let in Silesia.

Who rents flats in Silesia?

Silesia is a distinctive region, divided into many cities. The capital of this voivodeship is Katowice. That is precisely where most young people look for a place to rent. Rents in this city are high, which from an investor's point of view is an advantage. Why is demand for rental properties in Katowice high? Many faculties of several renowned universities are located here. In addition, the city offers attractive job opportunities for young, educated people. Newcomers also often decide to rent rooms in flats in Katowice, which can increase the landlord's profit. It is also worth looking at listings in the towns neighbouring the capital of Silesia.

Why invest in a flat to let

A flat intended for letting is, contrary to appearances, an investment over which we have a great deal of influence, and how it turns out depends largely on our own actions. This form of investment requires minimal starting capital. We can opt for a mortgage, which will allow us to acquire the flat of our choice. We therefore need only the deposit required by the bank. It is worth defining your goal from the start. When looking for a property as an investment, you must buy it at a very attractive price. Negotiate, and go for flats with imperfections that will bring the price down. A renovation of the flat can be impressive without spending a huge sum on furnishing it. Remember that the property must stand out among other adverts, but the most important thing is the return on the investment and the satisfaction of both parties.

READ ALSO – LETTING A FLAT TO A COMPANY FOR RESIDENTIAL PURPOSES

How to increase profit

The profit from letting a flat is the amount left after deducting costs. These are:

• The mortgage instalment
• The monthly service charge (czynsz)
• Charges for water, electricity and gas
• Additional charges (internet, television).

Remember that you will earn much more by letting the property room by room to several people. This requires identifying your target group. These are usually students and people wanting to minimise costs.