Investor purchased a 1+kk 38m2 studio flat in Prague 3 - Žižkov for 2 500 000 CZK. Our managers also had a task to purchase furniture and household appliances. The budget for the procurement was 100 000 CZK.
We set the right rent level to attract the tenants to already furnitured property that reached 15 000 CZK per month + 2 400 CZK utulities and advertised the property to find the suitable tenants.
Property management fee was set at 1 000 CZK per month. This means that invesor (owner of the flat) was getting 14 000 CZK per month netto. The annual income reached 168 000 CZK total. Therefore the payback period was estimated as 15 years and 5 month and the annual investment return reached 6,4%.
During the rental period the flat was under the constant supervision of our managers.