6 Tips for Renting Out Your Property | Algarve Portugal
Want to know how to make the most out of your property investment in the Algarve? Renting out your property in Portugal could be the best thing you decided to do this year but take a look at our tips to avoid any unnecessary headaches.
You could be sat on a pot of gold if you have a villa, apartment or townhouse in Portugal that you’d like to rent out. Especially during the summer months, renting out your property can prove to be a real boost to the bank. In many cases, a good holiday rental agency can help effectively finance an investment opportunity on the beautiful South Coast of Portugal.
Do keep in mind that there are different sets of rules and things to consider if you’re looking to join the long-term rental marketing, this article is specifically for holiday rentals in the Algarve, Portugal.
Want to skip this article and have someone handle it all for you? Get in touch.
1. Licencing Requirements (Alojamento Process)
There are various legal and licencing requirements that you’ll need to consider before you can rent out your home in Portugal. These include, but are not limited to, compliance with safety requirements, adding of floorplans with the local council (camara), installing legal signage and making sure first aid equipment is on site.
The Alojamento process can be time consuming and it can take several weeks to hav
There are local services available to help with the legal processes required when renting out a property in Portugal, but these can prove costly.
If this all sounds too complicated and you’re not sure where to start: we can handle it!
2. Choose Your Rental Agency and Management Company
When selecting your rental agency for Portugal think about the exact services that you’ll require. Will you need a cleaning service, a key holder, a pool cleaning service, utility management?
There are plenty of cases of agencies in Portugal going bust or going under due to mismanagement. We are happy to say that Unique Luxury Holidays has been in operation for over 12 years and has the experience and expertise to best manage your property for holiday rentals.
Make sure you do your background checks on the company that you choose to represent your property and ask about their booking rates to make sure they’re competitive.
3. Tax Requirements
Don’t take shortcuts! You don’t want to end up with a hefty fine or worse still facing criminal charges for mishandling your income. Make sure you’re declaring your income for any villas you might be renting out in the Algarve.
We can help to make sure you’re handling this correctly. Not sure about it? Get in touch.
4. Take Great Photos
People respond to great visuals. If you have an impressive property this can be ruined by poor photography. Make sure the holiday agency that’s representing your property has their own professional photographer that will do justice to your holiday home for let.
People want to be able to see the private pool, the outside areas, whether the villa is close to the beach and what kind of fantastic amenities your property has nearby. Make sure that the photographer knows about these things and captures them to best optimise your holiday home listing.
5. Think About Your Guests Experience
Take yourself on your guests’ journey. Imagine what it would be like to stay at your property in the Algarve. Often the small details are what make the biggest difference when it comes to bookings. Think about things like:
- Leaving a book for people to share their wonderful holiday stories.
- Making sure the property is immaculate for the guests’ arrival.
- Leaving a welcome note with a bottle of fizz to get their stay started right.
- Creating a booklet with information on nearby attractions for them.
6. Make it Personal
Unique Luxury Holidays makes sure to find out the things that will make your guests happiest during their stay. What is their favourite drink? – there will be a bottle waiting. Are there any special occasions on the trip? – we will make sure to congratulate them.
Is there anything at all that we could do to make your stay more enjoyable? – We will do it! You need the best rental agency in the Algarve to represent your property and that’s us.
Contact us now to find out more about what we could do for you.