budapest raday 1 or 2 bed

L

lookitsbaloo

Guest
Hi guys, I know you have written a lot about budapest which I have read and really enjoyed. I have a quick query and since you guys seem to know more about bud than my management companies i thought I would ask you a few questions which could help me out.

I have 2 apartments in budapest

1. O street "district 6" one bedroom apartment in city home (have rented out at 700euros).
http://www.tower-rentals.com/en/budapest-rentals/1357/

2. Raday street "district 9" one bedroom 98square meter apartment. ( have rented out at 600 euros)
http://www.tower-rentals.com/en/budapest-rentals/8591/

I use tower property management who seem to try their best but usually there is large gaps in between the rental of my raday apartment and due to the crisis both have now been empty for about 4 months and rental price has been reduced.

My question is this, I do have the option to make my raday apartment into a 2 bedroom as the existing one is 7m by 6m. If there is anyone with knowledge of the area and the ability to answer an email back as this is a problem with agents in budapest then please advise me.

2. If a 2 bed would this be ideal for students, i was told raday is a goods option for them, if so how shall I go about this should I use another agent (any ideas) or contact the univerisites direct.

THANK YOU, DAVE

 
Both seem to be nice apartments, the type that should rent easily enough. O utca is very central, and Raday is a street with a good buzz around it that students should like.
Has the management company advised you that a 2 bed would rent more easily on raday? If so, it might be worth spening the money on it, but otherwise I'd try dropping the price a little more -- the cost is the same in the long run unless there is extra demand for a 2-bed.
Try going to the colleges (veterinary and the city university) and putting an ad on the notice boards with tear-off strips with your phone number on them. Ideally if you have a hungarian mobile with a bit of credit on it, use that number on the ad. There is a notice board in the vet college beside the canteen entrance where you can do that at no charge (worked for me in the past, got me a five year tenant), and I'm sure the same applies to the other colleges. Otherwise, just keep on the back of the rental agency and try to gee them up a bit.
 
Thank you very much Lollix that is some very good advice. my management has said to leave the bedroom layout as it is, but then they have big gaps in rental.

Changing it would still give me 2 bedrooms at 3m by 5m and would stop me from missing out on any more tenents that have come to me recently looking for a 2 bedroom. As for putting up the notice well I will if Im there anytime soon, but I think Im going to contact all universities myself now.

Guys just to try and be of some use back I do know a very good reliable builder who renovated my place to a very good standard and who also left some cables above the ceiling incase I ever decided to turn it into a 2 bedroom. IF anyone needs some work doing Ill be happy to pass his details along.
 
It would be quite a cheap job to convert to a 2 bedroom apartment by the sounds of things, so I would definitely go down this route. Was there a specific reason why you didn't when you were renovating? You should get 550 Euro per month, if it were a 2 bed apartment, assuming that the layout is good.

It looks like it was a good renovation and it's obviously a nice property. However, if I were you, I'd accessorise a little more with cushions, vases, etc. and make sure that it is spotlessly clean when tenants come to view.
 
I have seen your apartments, and they look really well furnished.

Can you advise whether you did this yourself and if so how did you go about this?

If you did not furnish yourself, then can you advise where you managed to have it furnished so well and how much this cost?

I am needing to furnish a one bedroom apartment at district 13 in the Atrium but am being quoted around £6500 for what looks like very basic furniture.

Any help on this from anywhere would be most welcome.

Thanks
 
budapest said:
It would be quite a cheap job to convert to a 2 bedroom apartment by the sounds of things, so I would definitely go down this route. Was there a specific reason why you didn't when you were renovating? You should get 550 Euro per month, if it were a 2 bed apartment, assuming that the layout is good.

It looks like it was a good renovation and it's obviously a nice property. However, if I were you, I'd accessorise a little more with cushions, vases, etc. and make sure that it is spotlessly clean when tenants come to view.
Click to expand...


Mmm I suppose that when I renovated this I just wanted to keep all rooms very spacious to try and keep it as fancy as possbile, but yes I know that I have to do it and thanks for everyone who has helped me decide. I will also take you advice and just pick up a couple of extra accessories while I am next there...
 
investpest, you'll find this furniture in Ikea.

lookitsbaloo, I can absolutely understand your logic in relation to keeping the rooms large, but as you say, they will still be spacious after you divide the bedroom. It's a good investment decision to do this. Students are the most likely tenants and they usually prefer to share. Location, building and apartment look good, so it shouldn't be too difficult to keep it occupied. Best of luck with it.
 
I find it strange that your management company would suggest that a 2 bedroom 93sqm apartment would not get a better rent than a 1 bedroom 93sqm apartment. In my experience, it definitely would. There is a lack of well-furnished and presented 2 bed properties in good buildings at reasonable rents and the right ones are always in demand by students.
 
Ginger-cat said:
lookitsbaloo - i asked my management company, they said that adding a wall will not necessary increase the value or the income from the rent - especially not now. adding the wall will cost roughly 2000-3000 euro, for all the building material and additional furniture. is it worth for you to invest that much now?

investpest - yes, the furniture is basic IKEA, cheap enough, in think £6500 for 2 bedrooms is very expensive, i furnished my 2 bedrooms for much less, i think it was 7.000 euro with electrical appliances.
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2000-3000euros yes I think its definately worth it and its getting done, Im going to keep my places for 10-20 years I think so yes. IF it increases my rental options and reduces my empty periods and also makes me think that i have done everything I can to rent then I will be much happier..
 
Sorry, i am actually being quoted in HUF, but that is just me converting it fairly loosely to GBP.
 
I don't think lookitsbaloo would get more than 600 Euro/month for the property. Based on the first post, I had assumed that it was vacant at the moment and that the asking rent was 450 Euro (according to Tower website link).
 
yes its vacant at the moment but I was getting 600euro a month constantly until the financial crisis, that is what i meant to write.
 
That is a nice apartment!

Do you do an all inclusive deal - services included price, you know many corporate clients like to do it that way.
 
Ginger-cat said:
budapest - according to lookitsballo, the appartment is rented at 600 euro, do you think that with todays market he they would get more than that? when is the new projects on kiraly street they reduced their prices from 1200-1500 euro to 600-750 for a 2 bedroom?
Click to expand...

Could you give more detail on this price reduction for apartments on Kiraly Street. Which development is it?

Thanks
 
I think whoever mentioned 1000 Euro for a one bedroom apartment in Gozsdu Udvar was blatantly lying. The top end was only ever going to be 550-600 Euro/month and as you say, 400-450 Euro/month is now the more-likely reality.

The development didn't turn out as well as expected. The location is good, the facade is nice but the apartments themselves are very average. The whole development is rather soulless and the attempt to re-create a new 'Liszt Ferenc Ter' with restaurants and cafes has certainly not worked so far. In my opinion, the combination of high purchase prices/low quality/low rental yield makes this a rather poor investment.
 
BudaRich
Frequent Poster
Posts: 77



Re: budapest raday 1 or 2 bed
That is a nice apartment!

Do you do an all inclusive deal - services included price, you know many corporate clients like to do it that way.


yes well I am open to all offers at the momentand yes I would do a full inclusive package. At the moment everything just seems really quiet,
 
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