How to make money with the flat you’re renting?

Rents in Hong Kong are more and more expensive. Here are some tips to make extra-money easily with your flat.

1. Sublease

Nowadays, it’s very common to sublease a room or an entire flat for a short-term period. With the development of online platforms such as Airbnb, people are willing to leave their home to travellers. Who could have imagined that 10 years ago?

Currently, there are more than 1,500 flat listed on Airbnb in Hong Kong.

Before listing your flat, you should  :

  1. Ask your landlord if he is OK with it. Most of the time, subleasing is forbidden in the tenancy agreement
  2. Check with the management company of your building if short-term subleasing is allowed
  3. Make an accurate inventory of your belongings and the furniture – this could be useful in case of problems

dog

2. Use Snapflat

Snapflat is a new kind of property agent in Hong Kong. It’s entirely for free for those who are looking for a flat (NO agent commission) and it allows you to make 15% of a month’s rent when you move out.

Essentially, you just have to open your door for the viewings in your flat before you move out. Snapflat will give you a share of the landlord’s commission if they find a new tenant with your help.

Only things to do:

  1. Introduce Snapflat to your landlord. The vast majority of landlords is keen on working with Snapflat because they can find their next tenant before you move out. So they don’t lose any day of rent!
  2. Take great pictures of your flat
  3. List your flat on the website. It takes 10 min.
  4. Schedule viewing slots online at your preferred time

Snapflat will then advertise your flat everywhere and people can book viewings online. You just need to open your door to show them your flat.

It takes 4-5 viewings (15 min. each) to find the next tenant.

Don’t worry, the snapflat agents handle all negotiation & paperwork. You just need to open your door and cash-in!

More infos on snapflat.hk.

bob

 

 

 

 

 

 

 

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