Apartment in Michelská street

This apartment is located in Prague's Michle district, outside the city centre, but it still offers easy access to the business centre Na Pankráci. With an area of 56 m² and a 2+KK layout, it features one bedroom and can accommodate up to four guests. Initially intended for long-term living and furnished with only basically equipped, we fully furnished the interior with everything necessary for operating a serviced apartment. As a result, guests can live comfortably from the first moment of their stay, whether they are in Prague for a few days or several months.

The property owner decided to enter the hospitality industry and no longer wanted to deal with the concerns associated with long-term rentals. The challenge was to design a suitable business model for a location primarily suited for residential living, ensuring the success of his business.

Given the location outside the city centre, it was necessary to develop a rental strategy that didn't rely solely on tourist stays due to the low demand in this area. We focused on enhancing the interior to better suit corporate travellers, including fully equipping the apartment to our standards for medium-term rentals, offering ultra-fast 200 MB internet, and providing a workspace. We aimed to rent the property through our direct partnerships with companies and corporate housing providers, achieving a 79.5% occupancy rate.

The project on Michelská Street demonstrates that even in a seemingly unattractive location, it is possible to achieve significantly higher net earnings than long-term rentals. This property achieves exceptional results thanks to direct rentals to our partners seeking corporate housing. Ultimately, the property generates a net profit 150.6% higher than long-term rentals, with only 29% of occupancy coming from short-term rentals.