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How do you find apartments for rent?

Discussion in 'BlackHat Lounge' started by Junkfood00, Jul 26, 2013.

  1. Junkfood00

    Junkfood00 Elite Member

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    I need tips to find apartments I can rent, to build a business of renting out in turn. Ways to find them, apart from the obvious.

    There is a very big demand for rental. I have contacts to get used but repaired and very clean furniture like 20x cheaper than in store.
     
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  2. zonfar

    zonfar Power Member

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    you want to rent an apartment so you can rent it out to someone? I dont think it works like that...
     
  3. igniteimages

    igniteimages Regular Member

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    Where are you based?

    I'd have thought subletting apartments would be against the rules of your letting agreement and you could get into all sorts of problems.

    Or are you thinking of becoming a letting agent and simply taking a % of a rental for managing the rental and possibly furnishing them?
     
  4. Junkfood00

    Junkfood00 Elite Member

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    Sweden.

    It definitely works, but it also depends on the landlords if they allow it. Most of them do.

    I'm planning on finding apartments to rent, pay the rent as If I was residing there but then collect payments from my tenants.

    Furniture is cheap, internet is cheap and the demand is high. Looks like a great opportunity to me. ;)
     
  5. zonfar

    zonfar Power Member

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    Find an apartment how you normally would, however that is in Sweden. Try classifieds, then just call and talk to the landlords and ask them if they will let you rent it out.
     
  6. igniteimages

    igniteimages Regular Member

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    Sorry I don't know Sweden.

    If you do scale it up don't underestimate the ball ache that tenants can be! They will on the phone for any little thing, and they WILL cause damage.

    I'd try landlords from classifieds that are unfurnished and then rent them furnished - this could be where your margin is.

    Also short term lets will pay more, so if you are in a tourist area/big city an extra margin can be made this way.
     
  7. kindarthur

    kindarthur Jr. VIP Jr. VIP Premium Member

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  8. Trepanated

    Trepanated Supreme Member

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    Unless the agreement you sign with the property owner has a specific clause stating you have the right to sublet the property you will not be able to have any legally binding agreement with your own 'tenant'.

    This could cause you immense problems as you will have no recourse if your tenant doesn't pay the rent, whereas you are legally bound to pay rent to the property owner.

    My advice is if you cannot get a subletting clause in your rental agreement, don't do it.
     
  9. Junkfood00

    Junkfood00 Elite Member

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    Thanks for the tips and advice guys. I'm just looking for some undiscovered sources or someone who has done this before.

    I'll be ofcourse having the paper work arranged, that is a must and anyone with half a brain knows that it's a sin to work without any legal agreements.

    I've myself been a "2nd tier" tenant and things worked perfectly. Also, there are problems to be solved in almost every business, nothing is risk free.
     
  10. Trepanated

    Trepanated Supreme Member

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    I think you will have trouble getting the property owner to put a subletting clause in the contract.

    Firstly, they are then removed from the vetting process so have no control of who is living in the property.

    Secondly, asking for the clause will alert them to the fact that they could get a higher rent for the property - which they would want to get for themselves.

    If you can overcome those obstacles there could be money to be made, but it seems like a minefield to me.
     
  11. Junkfood00

    Junkfood00 Elite Member

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    To be honest, my target was students. 2 or more students per property. The property owner would probably not take on so many as the risk increases significantly, but I would carry the responsibility. How does that sound?
     
  12. Trepanated

    Trepanated Supreme Member

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    I was going to say the only way I could imagine it being viable was multi-occupancy for the sublets.

    Yes, I think that would work if you could get agreement from the property owners.

    I would sell it to the property owners that you will be providing secure, long-term rentals for them and you will bear responsibility for any issues caused by your tenants.
     
  13. Nigel Farage

    Nigel Farage BANNED BANNED

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    Erm. What's your margin? How long does it take to evict someone.

    Hypothetically speaking, if you charge someone $750 for an apartment that you are paying $500, and they fail to pay one month's rent, you will lose 3 months gross income. Here it usually takes 2 to 3 months to evict someone.
     
  14. Junkfood00

    Junkfood00 Elite Member

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    3 bedroom apartments are at around $1100. Since I will be furnishing it, I'd charge those 3 students at least $500 each. That sounds reasonable to me.

    I'm not into such stuff, I don't know how long it takes to evict someone but most students are dire for shelter where they're studying so I don't think anyone is willing to take the risks.
     
  15. Vrill

    Vrill BANNED BANNED

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    if you have a cheap source for quality furniture i would recommend you to export them to east europe.They will sell like hot cakes there.

    @Junkfood i'm looking for a jv partner for sweden for 2 projects.Reason why sweden i guess you can imagine yourself.
    If you are interrested let me know as i need somebody local who is able to speak and write in swedish who will control everything localy
     
    Last edited: Jul 26, 2013
  16. TerryMeshon

    TerryMeshon Junior Member

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    I can tell you from experience this can and does work.

    In my area, people rent apartments LONG TERM. We have a particularly long holiday season here. So you rent long term at say 1000euro per month (+bills) for a year, then you rent the apartment out over the peak holiday weeks at at least 1000p/week or at whatever you think you can get for it...

    There is not as much profit as you may think, you are also going to need approval in the long term contact from the owner that you can sublet, and you will also be liable to breakages and bills as already mentioned. So if someone leaves the AC on all week, your not going to make a lot.

    You should get an apartment with as many rooms as possible, walking distance to amenities, and in good quality building and with good quality furniture.

    But having worked with someone who has done this, its a lot of work for little money. Remember meet & greet, clean so on...
     
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  17. Roparadise

    Roparadise BANNED BANNED

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    Its simple enter the following into google and change the city to whatever city your looking for :

    Lägenheter att hyra i Stockholm
     
  18. Junkfood00

    Junkfood00 Elite Member

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    Haha, I know mate. I thought maybe there is some secret way to find those landlords and seal the deal, because those on classifieds are often overwhelmed.
     
  19. bigcasey123

    bigcasey123 Regular Member

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    i had the same idea as you lol but in the U.S it's not legal (i think).
     
  20. Roparadise

    Roparadise BANNED BANNED

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    It is legal as long as the contract allows sublets.
     
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