Is it worth renting out a flat by the room?

Young people, especially students, often look for a room to rent. For them it is a chance to save money, and for flat owners a way to make a bigger profit. Of course, this solution has its pros and cons. Find out whether it is worth renting out a flat by the room and how to protect yourself against possible damage.

Features of flats rented out by the room

If we want to invest in a flat that we intend to rent out by the room, we must focus on bigger towns and large cities. That is where young people usually come, for example to study or to work. In Silesia it is worth looking through the flats on offer in Katowice and Sosnowiec. These areas are favoured because of the universities and colleges located there, as well as many growing companies. Single rooms are the most popular. They should have an area of at least eight square metres. It is also worth considering one shared room in addition to the kitchen and bathroom. A shared living room gives each tenant extra space. It is an ideal place to watch television, invite guests and spend time together. Let us remember that the rooms must not be walk-through, and each of them must be separate and have a door that locks with a key. This gives tenants privacy and a sense of security. Every room should have internet access, so Wi-Fi in the flat is almost essential.

SEE FLATS TO RENT IN KATOWICE

Is it worth renting out a flat by the room? – pros and cons

Renting out a flat by the room generates considerably more profit than letting the whole flat to one person. Fixed charges and bills are divided by the number of tenants, which also reduces the landlord's running costs. We can therefore earn somewhat more, as is also evident from the listings posted on property portals. The rent for a single room, taking into account the rental price per square metre of the property, is higher than the rate for the whole flat. However, we have more responsibilities. Even the initial renovation work is more demanding. Each tenant must receive a separate tenancy agreement, drawn up by the owner of the property. In addition, handover protocols must be prepared for every tenant, and settling the tenants' bills is much more difficult. Additional problems may arise on an ongoing basis relating to relations between flatmates, keeping the place clean and observing the terms of the agreement. It is worth noting that students rent rooms almost exclusively during the season from September to June.

Did you know that you do not have to buy a flat in order to rent it out by the room? You can also sublet a flat.

READ ALSO – FLATS FOR STUDENTS