As Sofia has expanded as both a business and tourist destination over the last 10 years the demand for short-term rental properties has risen dramatically. These rentals vary from a one-night temporary stay to a couple of nights for a business meeting or weekend vacation to a month’s rental which is too long to stay in a hotel and too short for a standard rental agreement. This has led to a huge a development of Airbnb apartment investment in Sofia, but demand still outstrips supply.
The secret of a quality Airbnb investment in Sofia is the location, space and the pricing compared to hotels. For a very short stay, the emphasis is really on the cost as the importance of space is not of concern. If you are looking for accommodation for more than a week, hotels can feel cramped and the cost of eating in restaurants can really start to add-up.
For a tourist, the location of the AirBnb apartment in Sofia should be close to the centre, but for business or longer stays apartments in good areas, close to the Metro or the office are equally appealing.
For an international investor it is important to receive quality advice on where to purchase your Airbnb apartment in Sofia and have excellent support in making your investment work by managing the property. This means finding the best Airbnb investment properties can be a lucrative investment in Sofia, but it needs a top short-let management service to make it hands-off as well.
How Does Airbnb Investment Work in Sofia?
What is the difference between a traditional investment property and an Airbnb?
Airbnb rentals are very short-term while traditional investment properties are normally rented to long-term tenants.
The nightly rental cost Airbnb properties in Sofia is much higher than long-term rental properties but this must be offset by the expenses that are incurred by long-term rentals. These include:
- Paying the utility bills on time
- Organizing television and Internet subscription services
- Setting up home insurance
- Keeping the property to a high standard to attract high reviews.
- Paying property management fees
Although it is the property owner’s responsibility to find guests without quality support on the ground everything will start to fall apart so property management fees must be introduced into your profit and loss calculations.
Sofia Property Broker will help you to make these investment calculations, such as researching the costs of hotels in the area to see how much you can realistically charge guests and map these against the likely incurred costs.
What Kind of Property Should I Buy for An Airbnb Investment in Sofia?
An Airbnb investment in Sofia does not need to be a vacation rental home, as many use Airbnb for business travel and other events that may bring them to the capital city of Bulgaria.
When you are looking for an Airbnb real estate investment in Sofia it is very important to work with a real estate agent who understands the Airbnb rental market in Sofia.
Questions to consider are:
- Are you targeting the tourist, business or longer stay market?
- Are you concerned about seasonal variations?
- Are there planned developments in an area such as a new business park?
In the centre of Sofia, small apartments are a great choice. Larger apartments located in popular areas with plenty of amenities and transport links close by will be the best for longer short-term stays.
Airbnb Property Management in Sofia
If you are investing in an off-plan Airbnb apartment in Sofia then you will need help in designing, finishing and furnishing your investment.
Sofia Property Broker will be with you all the way from apartment viewings to your first guest. We have partnered with leading service providers in Sofia so that every eventuality is covered.
We understand the legal requirements for Airbnb rentals in Sofia and will ensure that you are not breaking any rules or regulations with your investment.
We will ensure that your property is well furnished and that it is photographed professionally so that it is easy to rent out.
The property will be properly cleaned between guests and will be kept in pristine condition to ensure that you receive grade A reviews.
We will advise you if the guests can be charged a cleaning fee.
If your priorities change and you want to sell the property, turn it into long-term rental or even live in the property yourselves then we will be there to help you.
We will provide constant communication to achieve success which will range from pre and post-arrival information to planning key swaps.
With new guests entering and exiting your property weekly, there’s always a chance that that could lead to problems. We will handle these complaints on your behalf and report back to you on resolution progress.
Airbnb Apartment Investment in Sofia
Sofia Property Broker will help you in the following ways:
- Investing in Airbnb short-term rentals in Sofia can be very lucrative. But there are several extra fees and costs to consider compared to traditional property investments.
- Hosting short-term rental properties with Airbnb can prove time-consuming because of the responsibilities. Sofia Property Broker are experts in short-term lettings and management from listing creation, guest management, to the cleaning, laundry and keys.
- Deciding on the right property type that suits your investment.
- Knowing the rules and regulations in Sofia and the individual complexes.
