Do you own a flat you do not want to live in? Part 2

Today we continue the topic we began in our previous article: owning a spare flat that nobody lives in. We have already covered selling the property, selling it at a profit after renovation, and renting it out. Today we present a few less popular solutions that are also worth knowing about.

Swapping flats

This is one of the less popular options, as few people opt for this kind of solution. It is nevertheless worth mentioning. Flat swaps often involve people who have been widowed, or parents of adult children who have already moved out of the family home. Such people then look for smaller properties, because their current flat is too large for them.

Larger flats, in turn, are sought by parents with small children, who no longer fit into their current small flat ("M2").

If we are the owners of the property in question, there are no legal restrictions on swapping it. Let us remember, however, that in the eyes of the law this kind of operation is treated as the sale of one property and the purchase of another.

Gift

We can also give the flat we own to an adult child or another person close to us. It should be remembered that such a gift must be reported to the Tax Office (Urząd Skarbowy). To give someone a flat, both parties must visit a notary.

It should also be borne in mind that a gift of property is subject to tax. However, if the recipient is a member of the immediate family, for example a spouse, parent, child or sibling, they can claim a tax exemption. The recipient has 6 months from the moment they become the legal owner of the flat to do so.

Short-term letting

Short-term letting can be an excellent alternative for all those who, for whatever reason, do not want to let their flat on a long-term basis. It is a great idea, especially for people who own a property in tourist towns or in large cities that tourists often visit. In this way you can rent the flat out for a month or two, but also for a week or a few nights. It is an excellent way to supplement the household budget. Some people even decide to buy a larger property, for example with several rooms, and offer short-term lets all year round. This is the case, for instance, in mountain resorts, where the season practically never ends and you can always count on tourists looking for holiday accommodation.

Premises for your own business

Owning an additional flat creates excellent conditions for running your own business. You can set up an office or a consulting room in it, where you will receive clients. The professionals who most often work from home include lawyers, architects, IT specialists, marketers, psychologists and psychotherapists, as well as doctors, once the interior has been suitably prepared.

A ground-floor flat can also be turned into a private nursery school. This is an excellent business idea, especially on estates where many families with children are known to live. Parents will gladly send their little ones to a nursery school close to home, with a homely atmosphere and groups that are not overcrowded. To open such a nursery school, you have to meet a number of requirements, both legal and relating to the premises.