One of the types of business related to real estate is second-hand rental. That is, the tenant rents an apartment to other people on a daily or long-term basis at a higher price. People who are engaged in this type of business rent apartments in advance, given, for example, that in August-September there will be more demand for housing in buildings near higher educational institutions.
How profitable is this type of business?
Real estate market expert Elnur Farzaliyev told Report that realtors rent well-renovated apartments and rent them out daily or long-term: “They rent an apartment for 800-1,000 manats (around $400-500) per month and offer it to foreigners for 70, 80, 100 manats (around $40-50) per day. “Foreigners usually rent houses daily. When foreigners come with their families, staying in a hotel is expensive. For example, a hotel room costs 50 manats ($29), and the daily rent of a three-room apartment in the city center ranges between 80-100 manats.”
