Rent your apartment, house or villa in the Algarve?
Portugal is one of today's most popular vacation destinations.
In recent years, the number of visitors to Portugal during the winter months has increased considerably, particularly among European retirees who come to enjoy the mild climate. Although rental income is generally lower between October and April, extended stays help to maintain income during this quieter period.
Another essential element for the success of your vacation home in Portugal is the furniture and decoration. Potential customers' first contact with your property will probably be via online photos. However, don't make the mistake of choosing items simply because they are "beautiful". The interiors of vacation homes need to be of the highest quality, as wear and tear is much greater here than in a private home. When choosing furniture and decorative elements, make sure that each item is not only aesthetically appealing and modern, but also made from durable materials that can stand the test of time. These items must also be quick and easy to clean to meet hygiene standards.
Managing a vacation home for rent is time-consuming, and for many owners this can be a major obstacle when they decide to put their home on the rental market. There's also the question of the potential risks involved in welcoming strangers into your home. You don't have to worry about the time factor or possible damage. Portugal currently has a number of professional property management companies offering owners total peace of mind. Entrusting these services to an experienced property management team will save you time and hassle. Basic property management services can include property surveillance, mail collection, pool and garden maintenance, general home repairs or cleaning and laundry services.
In addition, property management companies will help you comply with legal requirements, such as registering as a tourist rental and obtaining a rental license called "Alojamento Local". Portugal has stepped up its efforts to eradicate illegal vacation rentals. Today, it is virtually impossible to rent out your accommodation without complying with the law. Things like safety inspections and certificates, a fire extinguisher, a first-aid kit or an official complaints book, called "livro de reclamações", may seem complicated, but our customers don't have to worry about any of that, because we take care of everything.
When you decide to rent out your vacation home, one of the first things you need to do is make sure that everything is done safely and legally. This includes obtaining the necessary licenses and safety certificates, as well as ensuring that you have reliable accounting services to guide you in paying your taxes correctly in Portugal and making the best decisions to avoid the pitfalls. Given that taxes on rental income in Portugal must be paid in that country, whether you're a resident or not, it's important that a reliable accountant helps you understand the intricacies of renting out your vacation home.
