Although this business is still not well established in Azerbaijan, experts say that the income from daily rental of houses is more than monthly rent. But they add that there are enough risks in this work. Therefore, homeowners should take precautions in advance.
When we think of an apartment for rent, we usually think of houses that are rented for at least one month. But why do we only rent houses for one month? However, it is possible to rent the houses daily. Also, in this case, the owners of the house get more income. In Azerbaijan, if we look at people’s attitude towards houses for daily rent, we will see that the situation is not encouraging at all. Because when it is said to rent a day, certain unpleasant thoughts may come to mind.
My house is full 20 days a month
When you type daily rental houses on the Internet, various ads come up. From these ads, we found a host who rents out his apartment to foreign guests. According to Mr. Yasin, he has been working in this field for 5-6 years: “You need to have at least 10 houses for daily apartment rental to become a business. My house is full on average 20 days a month. The rental price for one day is between 40-60 manats. It is given to Azerbaijani citizens only if they are a family. Among our own citizens, those from the regions prevail. Arriving guests pay attention to cleanliness and warmth, in short, they are looking for a house that is suitable for living. “Difficulties are less when dealing with this field legally.”
There are people who rent their houses and rent them daily
Elnur Farzaliyev, an expert on property issues says that there are houses for daily rent in the central parts of Baku: “Their daily price starts from about 40-50 manats and can vary up to 150-200 manats. These prices are determined by the number of rooms, the location, and the conditions of the house. If we look at the ads, we will see that people who rent on the sites prefer to rent their houses for 3-5 days instead of 1. They do this so that the house does not remain empty, and that there is no bad intention. Before the pandemic, there were good profits in this area during the tourist boom. For example, they rented a normal apartment for 600-700 manats, and when they rented it for about 60-80 manats per day, they earned 2 times more than the price of the house in a month. They were able to pay the rent of the house, and they had additional income. Even now, there are landlords who rent outside, and rent their apartments in the center of the city to guests who come daily.”
For those coming from Eastern countries and South Azerbaijan
According to the expert, daily rental houses are mostly for guests from abroad: “Tourists from Eastern countries and South Azerbaijan prefer daily houses more. Because the number of family members of the arriving guests is large, the hotel prices do not benefit them. When the number of people is large, the hotel costs more. In this regard, they rent a house on a daily basis. It is profitable for them because the house has all the amenities and a kitchen.”
The expert says that those who come to the capital for a few days for work from the regions of Azerbaijan also go to daily rental houses: “In general, the prices for a one-night stay are not cheap. The main thing is a large number for citizens from the regions. From that point of view, those who come from the regions and are looking for a house just to spend the night turn to hostels.”
Where is this field more relevant?
E. Farzaliyev noted that there is more interest and demand for daily rental houses in our tourist regions: “The price of these houses in those zones starts from approximately 50 manats and increases to 150-200 manats. In the regions, everyday houses are considered more normal. Because most of the vacationers are families. But in the capital city of Baku and other big cities, other ideas come to mind when we say daily home.”
The expert also said that the daily rent apartments are mostly in new buildings. In the old buildings there are also daily houses, but their conditions are, of course, a little behind. Apartments in architectural buildings are available for daily rent mostly in the city center.
Difficulties in making easy money
According to the real estate expert, there are certain dangers and risks in the daily rental business: “Everything must be legal. If a citizen rents out his house on a daily or monthly basis, he must sign an official notarized contract, pay taxes to the state for the payments received, and take a copy of the identity card of those staying at home. If all paperwork is done in an official form, if taxes are paid, if there are no problems or incidents in the house because of the tenants, they are not responsible for anything that happens there. In addition, if a citizen rents his house, he must have home insurance. Because in rented houses sometimes accidents, fires, short circuits can happen. Of course, if the house is not insured, the case goes to the courts and the solution becomes difficult”. (kaspi.az)
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