Salvanpuisto, Hollola: Apartment renovation, rental, and successful sale
In this article, we will tell you about the successful renovation, rental, and sale of two apartment buildings located in Salvanpuisto, Hollola.
We purchased the property in 2023 and began renovating and renting out vacant apartments. The goal was to increase the occupancy rate and improve returns.
The occupancy rate of the property had fallen alarmingly under the previous owner. We renovated the vacant apartments, focusing on practical and cost-effective solutions. The renovations raised the overall standard of the properties and attracted good tenants.
We rented out the renovated properties and were able to significantly increase the rent. As a result, the occupancy rate rose to 100% and the return improved significantly.
We sold the apartments to investors and remained in charge of managing the property. This allows us to ensure that future renovations are carried out as planned and that the residents' needs are taken into account.
Further information
- Size of property: 48 apartments
- Apartment sizes: 47 m² – 89 m²
- Renovation: Cost-effective, practical, and sustainable renovation.
- Rental: Dear tenants, there has been a significant rent increase for some apartments.
- Utilization rate: 100% after the project
- Sales: Apartments sold to small investors
- Management: We will continue to manage the property with the help of our partner Rents.