From the bare walls of Prague's Vinohrady into a profitable property.
This investment apartment was given to us for management by a new investor to whom we were recommended by an existing investor in 2017. The unit was a 2+1 and had nothing but bare walls.
The first thing we decided to do was to change the layout. The apartment is located in Vinohrady and typical tourists perceive Prague 2 differently than the historical centre. So we decided to make the apartment look universally pleasant, in a mild-art deco style. Vinohrady is often chosen by larger families and couples, so we changed the layout and doubled the maximum capacity of the unit.
Thanks to the layout we designed, we were able to comfortably accommodate up to 10 people in the apartment. The average annual occupancy is over 80% at a price of 9,000 CZK per night. Why? Because of our Airbnb and Booking profiles, tasteful interior, sophisticated pricing and marketing tools, professional photos, great customer and technical service.
Regardless of the less popular location of the apartment, the ratio of the initial investment in investment property and the return for the owner in 5 years of operation is impressive.