First shabby, then chic – renovate a period property for Airbnb

Rarely, very rarely, do we find apartments in such a state that nothing needs to be done to them. But that's okay, because the price reflects that. In this case, the purchase price was just under 1,600 euros per square meter, while well-renovated and furnished apartments of the same size and in the same area cost over 3,000 euros.

However, the customer didn't have a 'Fix & Flip' in mind, but rather something more long-term.

We followed a hybrid strategy when selecting and renovating: the apartment should be suitable for both long-term and short-term rental. The Airbnb return cannot be surpassed, but there are certainly risks: for example a pandemic (some people will remember...), or a tightening legal situation and even bans, as has already been the case in other European cities. This is extremely unlikely for Budapest because the hotels alone cannot come close to meeting the city's overnight accommodation needs, but it is still not impossible.

So we wanted to create an atmosphere in which someone would not only want to sleep for 2 nights, but would also like to live in for many months. And the first tenants were actually a student couple.

Renovate a period property – in 3 months:

• The wall to the living room was removed in order to later install an open kitchen. 
• The old, broken wooden floorboards were torn out and the entire floor was straightened, then PVC laminate was laid.
• completely new bathroom with modern, walk-in shower.
• Gallery removed - it is particularly problematic for short-term rental.
• The open passageway to the bedroom was reduced in size and a lockable door was installed.
• An additional window was created towards the atrium. 
• Inverter air conditioning instead of gas heating, supplemented by an infrared heating panel
• Electricity and gas meters in the entrance area were covered in drywall 

Hybrid approach to furniture and equipment

A bespoke couch that converts into an innerspring double bed. So we were able to get approval for 4 people on Airbnb. And long-term tenants have very good sleeping options for their guests.

A fully equipped, beautifully colored kitchen from a Swedish furniture store. If they hadn't forgotten our order and caused construction to stop for two months, then we would be really happy with it.

We couldn't resist and ordered an antique cabinet from the Hungarian eBay jofogas. Actually superfluous as an addition to the spacious closet in the bedroom, but such seemingly unnecessary things, as you can see in other small details in the apartment, ultimately create the apartment's own character.

We have also provided a workstation - on the one hand there are many business travelers, but on the other hand a desk is also essential for long-term rentals.

By the way, the walls here are not wallpaper at all, but rather paint that has been painted over with a special, iridescent layer of glass beads.

Heating is with an inverter air conditioning system

The devices have one Heat pump function and are very energy efficient. They can cool and heat and also have the benefit of removing humidity. This is not only important in certain weather conditions, but also helps with the frequent changes that come with Airbnb. The cleaning team uses the function specifically if necessary to banish the smell of previous visitors outside.

Now you definitely don't want to be in the airflow of a cooling or heating air conditioning system in your bedroom. So we decided on infrared heating because the radiant heat works immediately and due to the location of the room it is not necessary to cool this room even in summer.

The apartment can now be booked on Airbnb - as a result of detailed design planning and many hundreds of small and large decisions.

If you are interested in a project like this and can imagine realizing something like this with us, please feel free to contact us meet us online or here on site.

This is what the guests say about the apartment: