Refurbishment is worthwhile - not only for landlords but also for sellers of vacation properties
Damp walls not only impair the quality of living and endanger health, they also reduce the value of a property when renting or selling. Most property owners in Mallorca are also aware of this. 75% of them are afraid that their property will drastically lose value due to damp damage, according to a representative survey by the opinion research institute „Heute und Morgen“.
„The amount of depreciation due to moisture damage cannot be quantified in general terms, as it depends on the location, the year of construction of the building and the use of the affected rooms,
emphasizes Dipl. Ing. (FH) Daniel Gingerich, property valuation expert. If a basement room is used as a potato cellar or storage space, the reduction in value due to moisture damage is rather low. If, on the other hand, moisture-damaged rooms are used for residential purposes or even rented out, the reduction in value is often considerable.
Because living space is scarce in many regions of the island, especially in the center of Palma. In the island's capital, for example, monthly rents of 350 to 600 euros can easily be achieved for a 24 – 30 m2 apartment in a central location. However, if the walls are wet and the room can no longer be rented out as a result, this results in an annual loss of income of between 3,600 and 5,400 euros. Extrapolated over ten years, we are talking about 36,000 to 54,000 euros in lost cold rent," says Gingerich.
In view of these figures, it becomes clear how worthwhile the professional removal of damp damage is. If, for example, a 30 m2 first floor apartment is affected because moisture is entering through the plinth and two outside walls are wet, professional plinth sealing usually costs well under 10,000 euros, explains Dipl. – Ing. (FH) Daniel Gingerich, who specializes in the removal of moisture and mould damage with his ISOTEC specialist company. „We give a 10-year warranty on base sealing, which is 5 years more than required by law“, says specialist Gingerich.
Properly renovated and therefore rentable again, even without taking into account legally permitted rent increases, this example apartment can easily generate a multiple of the renovation costs through cold rents. Last but not least, property owners must also keep an eye on their home as a potential sales property. "Moisture damage and its consequences can significantly detract from the desired sales price," says Daniel Gingerich. Such weak points should therefore not be put on the back burner in order to rule out value-reducing damage. "Our on-site analysis gives the owners a clear idea of the extent of the damage and a fixed price for the renovation costs in the quotation," emphasizes ISOTEC expert Gingerich. "And by eliminating the damp damage, they make an important contribution to improving the quality of living, economic usability and maintaining the value of the property.
Isotec Mallorca Tel. 971 699 123 ,
