STAGES IN THE PURCHASE OF AN
RELIABLE PARTNERS IN APARTMENT BUILDING PURCHASE
When looking to purchase an apartment building as an investment and seeking an „allround care-free package“, then a refurbished property is a good option. Ideally the roof is also developed for residential use so as to optimise rental incomes.
It is advisable to have a maintenance schedule prepared by a specialist such as an experienced architect. A maintenance schedule enables you to take forthcoming refurbishments and modernisations into account. This in turn allows you to assess whether the purchase is ultimately worth it.
CAREFUL CHECKING IS WORTH IT
Walk through the building and ask to see apartments which have been let for varying lengths of time – in this way you can form an overall view. In our daily work we constantly see a mix of fitting standards in one and the same property. Depending on the condition, a re-let through a change of tenant can take place either immediately or only following thorough refurbishment. A general plausibility study of tenancies should also be checked, whether all rented areas are above ground or in the basement – or even whether areas additional to rental space have to be taken into account.