THE LAKE PROJECT

When you renovate your cottage, rental income will increase because of three reasons:

1. We will increase the rental price (per day) of your cottage with approximately an extra 20% after external renovation and with an extra 30% after internal renovation.

2. The number of days in the year that your cottage can be rented out will increase, because we can rent out your cottage 12 months per year (against 7 months with a non-renovated cottage) and because of the larger target group that seeks after more modern vacation housing.

3. Your share of the rental income will increase from 50% to 60%, after completing both external and internal renovation.

Below we calculate for you what the rental income will be for, again, a 289,000 SEK cottage while spending 2 weeks of vacation in your cottage in July and 1 week in October. But now with the following renovation scenario: exterior renovation of the cottage completed by end 2025 and an interior renovation completed by end 2027.

Obviously, this means we start in 2024 and 2025 with the rental income of a non-renovated cottage,

so in these two years the rental income is the same as in our example for a non-renovated cottage. Please note that in our calculation we have not included the positive effect of being able to rent out your cottage more days per year (b), as we do not have historical data to assess this effect and we prefer to err on the save side. This means that the calculations below are conservative.