Success story: how to rent out an apartment at almost 18% above market price
Renting out an apartment may seem simple at first: put up a listing, wait for a few calls and pick a tenant. In practice, every detail matters and the result depends on how thoughtfully the process is managed. Pricing, timing, presentation and a message aimed at the right target group all directly affect how quickly and at what price a tenant is found.
The studio apartment on Vabriku street is a good example of how big the difference can be. Thanks to a strategically managed approach, we rented out the apartment not only in three days, but also at 18% above market price.
Property:
- Location: Vabriku 47, Põhja-Tallinn
- Type: one-room studio apartment
- Initially expected rent: €425
- Actual rent: €500
- Listing published: 9 Dec
- Tenant found: 12 Dec
How to achieve higher rental income from your property?
The apartment was positioned in the right price class and in front of the right target group from the start. Square metres are easy to measure, but location, demand, potential use and visual image are just as important when setting the price. Since the Vabriku apartment is close to Kalamaja and Telliskivi, it was clear that this property should target the short-term accommodation market rather than the usual long-term rental market.
We invested in:
- professional interior design and staging
- photos that told the right story visually
- a compelling, well-written listing
- strategic pricing
- timing ahead of the holiday season
In addition to the public listing, we made direct offers to clients who had previously shown interest. That way the information reached the right people straight away, people who were ready to react quickly. The listing was shared on several fronts: property portals, social media groups, personal mailing lists and Uus Maa’s internal networks. The information reached more than 603,000 potential people. We also involved our network of agents and partners to find tenants outside public channels.
The result? The apartment was rented by a client who uses it for accommodation services. That means more maintenance, but the owner receives a significantly higher monthly income than with a long-term tenant. All in all, it was a much more profitable solution.
To rent out the apartment, we used the Rendin platform, which allows a tenancy without the usual deposit. Instead, a small monthly fee (4% of the rent) covers the risks of both parties. Rendin also provides legally sound contracts and support throughout the tenancy. And because we used an open-ended lease, we could start looking for a new tenant before the previous one moved out, which means zero vacancy days and continuous income.
What does this rental case teach us?
The story of the Vabriku 47 apartment shows that a well-managed rental process delivers better results faster. When pricing is accurate, the target group is clearly defined, the presentation is professional and the contract solutions are flexible, all the conditions for success are in place.
If you are also considering renting out your property and want to know its real market potential (not just the portal average), have a look at my rental service here or contact me directly.
“The cooperation went brilliantly! The agent was always available and questions were answered quickly. I liked that he nudged us when we were slow with something. The apartment was rented out much faster than expected. We recommend him!”
– Nelet Saaver
“We are very happy with your work. At the start we got the advice we needed on the rent and an explanation of how to quickly find a suitable tenant. The photos were ready quickly (they were truly wonderful!) and the apartment was effectively advertised on various portals.”
– Sergei & Valeria
“Living outside Estonia, I am often not in a position to organise everything related to the apartment. That is why I am extremely grateful that Danek has found such great tenants for the apartment and, when needed, organised a handyman to help with minor repairs. Danek’s dedication is outstanding. You can rely on him to always find the best solution to any challenge, and he is always quick to reach by email and phone.”
– Janar K.
In summary:
Results like these do not happen by chance. They come from:
- pricing based on real demand, not the portal average
- a well-chosen target group and an understanding of their ability to pay
- professional staging and marketing material
- broad distribution and direct contacts
- platforms and contract solutions that reduce risk and increase speed
- the agent’s experience, network and market awareness
Result:
- €75 more per month
- nearly €900 more per year
- zero vacancy days
That is the difference between a random and a strategic rental process. If you have a rental apartment or plan to buy one, but are not sure what its real yield potential could be, book a free consultation here and let’s talk. Your property may have untapped potential.
