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What the apartment’s price depends on?

От чего зависит стоимость квартиры?

Rent of apartments is a very profitable business with a stable income. But before offering accommodation for rent you should set its price. In this case you should check the prices in the announcements in newspapers, internet and call other tenants or engage professionals of a real estate agency who have experience in this sphere. So what can influence the price?

Objective factors:

1. Location. Transport communications, district’s prestige, public transport stop, industrial enterprises, etc. Comfortable location of an apartment is very important for business trips, as often businessmen prefer to daily rent in Kyiv instead of living in a standard hotel room .

2. Infrastructure. It is difficult to find a person who does not want to live in well-developed area where there are shops, schools, kindergartens and hospitals near-by.

 3. Planning, balcony, entrance door intercom. Large improved planning, winterized balcony and entrance door intercom will make extra comfort for tenants. Usually they prefer brick houses and not panel ones. They have better sound-proofing and less heat conductivity.

4. Number of floors and elevator
The floor of apartment’s location is of great importance. The absence of elevator may be a problem for physically challenged, ill healthy, cardiac sick or elderly people. And, certainly, it will be uncomfortable for families with a little child to carry out baby carriage every day.

5. View from the window. It is better to look at beautiful landscape, sea front, sights, monuments and not at the waste dump.

6. Neighborhood. If you live not far from famous or authoritative people, it will increase the cost of apartment. On the other hand, if your neighbor is some problem family, it might completely change your life. For example, you will even not be able to let your children play in the street.

7. Parking or garage. It is a decisive factor for those who have a car.

8. Market activity. Due to seasonal fluctuations the price may go down during such periods: from December to January, from April to May, from June to September.
The accommodation demand in Kyiv grows every year, tenants do not hurry to spend their money and became much more exigent about living conditions. The owner of apartment can’t change the above-mentioned circumstances, however, there are some peculiarities which can increase the price and they depend exactly on the owner.

Factors to be influenced by the owner:

1. Repair. It should correspond to the apartment : designer’s renovation will be more preferable for apartment rent in Kyiv downtown or elite districts of Kyiv, for the apartments of economy class, neat and cheap renovation is quite enough.

2. Furniture. Not everyone has possibility to travel over the capital with a lot of staff in search of apartment. First of all, the furniture should be functional: a folding sofa and a table, a built-in closet and a few chairs would be quite necessary .

3. Household appliances Gas cooker, refrigerator, TV set, washing-machine will make living in an apartment more comfortable.

4. Communications. Good condition of pipes, taps, electric wiring and sockets can influence final decision. If the apartment is situated on the last floor and the roof leaks, it won’t be rented at all.
5. Services. Internet, alarm system, satellite or cable television can be the most important requirements for renting the apartment.

6. Entrance. It represents the state of the building, scrupulousness of utility service providers and education degree of the neighbours.

No doubt, such approach to the rent will require some investments. Nevertheless, the apartment will become competitive its price will significantly go up. The expenses will be refunded within 2-3 months. If you want the tenant to pay the rent in time, it’s necessary sign the lease agreement which will include the terms as conditions of contract termination.

August 18, 2014

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