Options for an unused apartment, hotel or building

An unused property can be both an opportunity and a burden for its owner. An apartment, hotel or building that stays empty produces costs such as maintenance, building fees and tax while earning nothing. So what are your options? The framework below can guide you as you assess your property.

1. Long-term rental

Letting the property to a tenant for months or years reduces the day-to-day operational load. Income can be more predictable, but flexibility is limited.

2. Short-term rental

Offering the property for stays provides calendar and pricing flexibility. It requires attention to operations, regulation and building rules. You can look at our articles on which properties suit this model.

3. Professional management

Handing operations to an operator can protect your time while letting the property be managed more consistently. When choosing an operator, clarify the service scope, reporting, contract and exit conditions.

4. Renovation and repositioning

Some properties can be opened to a different guest or tenant profile through renovation and redesign. This approach needs extra investment; it is important to assess cost and expectations realistically.

5. Operating models for a hotel or building

If you have a hotel, or a building that is suitable entirely for hospitality, different models may apply, such as running it yourself, a management agreement or a partnership. Each model divides responsibility and control differently.

6. Sale

Selling is a way to redirect capital elsewhere. A decision to sell depends on market conditions, tax consequences and your personal goals. It is a good idea to get support from a legal and financial adviser on this.

7. Mixed solutions

Some owners use the property themselves in certain periods of the year and rent it out in others. This flexibility requires careful planning of the calendar and regulatory compliance.

Questions to help you decide

1. What do I expect from this property: regular rent, flexibility, appreciation, my own use?
2. How much time can I give to operations?
3. Which model do the property's condition and location suit?
4. What do regulation and building rules allow?
5. Do I need to renovate, and what is my budget?
6. What is my exit plan?

Where to start

The first step is to assess the property's current condition and potential with a specialist. When location, building structure, renovation needs and your goals are considered together, it becomes easier to see the path that suits you best.

Frequently asked questions

How do I decide on the best use of my property? Assess your goals, the property's features and the regulations together. An assessment with a specialist speeds this up.

Should I renovate first? It depends. Establishing which model the property suits first can prevent unnecessary investment.

I own a hotel or a building. Where can I start? You can start by reviewing your current operating situation, your documents and permits, and your goals with a specialist.

To work out the right model for your property's needs together, you can browse our solutions or get in touch.