This case study is based on one of the many properties handled by Salento With Love over the years, and it is a good representation of the business model offered by us.
Model based on the restructuring and refurbishment of a small historic and featured building. They are the aspirational fulfilment of today’s generations of millennials, hipsters and entrepreneurial spirits.
This two-storey building, built around 1830 had been vacant from the early 1960’s. Totally neglected and not connected to any services (water, waste, gas and electrics).
The property was in total need of restructuring and refurbishment.
This property was carefully chosen to reflect our unique concept.
A period propriety with historic value purchased in 2017, in a beautiful old town centre.
RETURN ON INVESTMENT
Our average target purchased price of 30 thousand euros was achieved, with a much lower cost price, for this property.
Offering an increased return on investment for our client.
The property was totally renovated and connected to the local utilities network (water and electrics).
The project was successfully completed within six months under our supervision and totally within the client budget.
LOCAL RENTAL MARKET
Our unique design, tested over the years in many of our projects and the shortage of rental properties of this high standard, allowed us to offer the property on to the local rental market at a slightly higher premium (10% higher).
The property was rented within the first 7 days from going live on our social network.