Hi,
I am just starting out. About to buy a property and maybe hopefully within a short time buy two in Rome, Italy. I live in Rome and plan to manage it myself. The idea is to get the mortgage paid plus a little extra with the money we earn renting... and then one day to have two fully paid homes that have appreciated significantly. This will be my full time job. Right now I'm a stay-at-home mom taking care of two little ones and itching to get started.
The question is who would you target? Families? Couples? If you had the choice of two VERY small apartments (to rent to a maximum two people) or only one larger apartment? What would you do differently now that you have the experience? Suggestions for what type of furniture to buy? What type of paint to use that takes wear and tear? What else - something you know now and want to share?
We made an offer on a place a block from the Colosseum but the owners backed out and decided they didn't want to sell... so we are at square one house hunting and looking for suggestions.
Thanks for this great site.
Rocky
If you had it to do over again...
Welcome to the forum, Rocky! 
In your situation I would 100% recommend you opt for two one-bedroom apartments.
This will allow you to tap into the market of couples who travel the world year-round. Many actively avoid the high season - they want to avoid the crowds and benefit from cheaper prices, and also to experience the 'real' Italy, etc. Typically they are reasonably well off, 50s and older, and fairly 'refined'. Nationalities are mainly US, then Canadian, Aus/NZ and British.
How do you tap into this market of couples spinning around Europe? Three steps:
- It's all about location. It has to be well-known and on the tourist trail, an easy sell in your marketing. Rome is obviously an excellent location. All the cultural attractions, city life, restaurants, etc. are as good outside of summer, less crowded, and less hot.
- Views are normally important, so people can take one look and be hooked. But in a city that is not so much of a factor. If you can show a nice street or piazza out of the window that would be a bonus, but not essential.
- You'll need to invest in making your apartments beautiful - well decorated and furnished, but also well appointed: walk-in shower, central heating, waste disposal, half-size dishwasher, quality linens and towels, etc. Not like a holiday rental, like a real home. Compete on quality.
With couples you should also get less wear and tear, or damage to expensive furniture.
These are my keys to success. I am in a similar situation with two village houses in Provence so small they are effectively apartments, in a well-known location, and I have bookings year-round. That's how I know those couples are out there. Many of them mention they are also 'doing Italy' on their tour of Europe.
In your situation I would 100% recommend you opt for two one-bedroom apartments.
This will allow you to tap into the market of couples who travel the world year-round. Many actively avoid the high season - they want to avoid the crowds and benefit from cheaper prices, and also to experience the 'real' Italy, etc. Typically they are reasonably well off, 50s and older, and fairly 'refined'. Nationalities are mainly US, then Canadian, Aus/NZ and British.
How do you tap into this market of couples spinning around Europe? Three steps:
- It's all about location. It has to be well-known and on the tourist trail, an easy sell in your marketing. Rome is obviously an excellent location. All the cultural attractions, city life, restaurants, etc. are as good outside of summer, less crowded, and less hot.
- Views are normally important, so people can take one look and be hooked. But in a city that is not so much of a factor. If you can show a nice street or piazza out of the window that would be a bonus, but not essential.
- You'll need to invest in making your apartments beautiful - well decorated and furnished, but also well appointed: walk-in shower, central heating, waste disposal, half-size dishwasher, quality linens and towels, etc. Not like a holiday rental, like a real home. Compete on quality.
With couples you should also get less wear and tear, or damage to expensive furniture.
These are my keys to success. I am in a similar situation with two village houses in Provence so small they are effectively apartments, in a well-known location, and I have bookings year-round. That's how I know those couples are out there. Many of them mention they are also 'doing Italy' on their tour of Europe.
Paolo
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