Here is an interesting case. It is an apartment in the city of Sofia, which has been rented out for several years in a row by the owners who live permanently abroad. The area of the property is approximately 120 square meters, but previous tenants did not maintain it well. Customers want to rent it, but because of its poor condition it is difficult – the walls are soaked in tobacco smoke, the floor is clogged, some of the walls are moldy and the other part is scratched and dirty, the furniture is caked and worn out. Another barrier to finding tenants is the large area of the home, which also determines a higher rental price, respectively, and higher tenant consumption costs such as heating (one of the rooms is nearly 40 square meters).
After looking at the property we found that it has everything needed to be divided into two parts and to be separated into two separate dwellings. For this purpose, an interior reconstruction project was prepared and the necessary construction works were carried out. Separately, the walls were refreshed and where necessary, the flooring was replaced with a new one. One part of the furniture was repaired and the other part had to be replaced by buying new ones according to the client’s budget. In the end, the owners signed two rental agreements with two families who live in renovated and refurbished neighboring one-bedroom apartments. Financial result: Monthly rental income increased by 20%.
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