How much does it cost to rent out a house?
Renting out your house with DoveVivo doesn’t cost anything
Renting out your house can certainly be a source of long-term income. But how much does it cost to rent out a house? Indeed, there are a number of hard-to-avoid expenses whether you rent it out by yourself or through a property agency.
Vacant periods, brokerage costs, refurbishment costs with each change of tenant, management, administration and paperwork charges, insurance and losses from arrears are all costs that chip away at the income from renting out your house.
The formula developed by DoveVivo and applied for over ten years on hundreds of apartments enables us to reduce these costs, allowing you to earn the actual rental amount. Last but not least, DoveVivo relieves you of all the stress and obligations entailed in renting out a house.
The DoveVivo Formula for renting out your house
Discover how much does it cost to rent out a house with DoveVivo
Over an eight-year rental period, at the same rental amount, DoveVivo guarantees assured payments and a reduction in a number of costs. Let’s take an example based on estimates and market values in Milan:
- €9,500 saving on the average vacant period over 8 years, according to 2017 data from Nomisma, due to 3.4 tenant changes and 9.5 vacant months
- €6,100 saving on brokerage costs at 15% of the annual rent per tenant (3.4, again according to data from Nomisma)
- €2,800 saving on refurbishment costs with each change of tenant, estimated at 10% of annual rent for each change of tenant after the first one
- €2,900 euro saving on management, administrative and paperwork charges, 3 - 5% of annual net rent if entrusted to third parties (these translate into commitment in terms of hours when the owner takes care of them himself)
- €1,200 euro saving on insurance, €150 per annum
- €4,400 euro saving on loses from arrears, 4.5 - 5% on average for the full contractual period (source: Sole24Ore 2017).
Total? €26,900 savings!
Watch the video to discover all the benefits