Rentals in Portugal: conditions for owners

Rentals in Portugal: conditions for owners
Booking of villas in Portugal today is easier than leasing

Currently, Portugal’s substantial part of the budget comes from tourism. Therefore, certain types of tourism activities in this country are still very "over-regulated". Today, amid the global financial crisis the authorities of this country are trying to simplify various procedures that operate in the field of tourism. Moreover, for those, who lease housing in Portugal it is still quite difficult to register. What should person know if he wants to lease his apartment in Algarve of a house in Lisbon?

Each owner of villas in Portugal, apartments or other type of short-term tourist rental property must obtain a special license. To date, a mechanism for obtaining a license is rather difficult. Despite the fact that authorities in Portugal made some improvements and eased strict conditions, they also tightened the rules of new regulations, related primarily to building standards. Mismatch of the object of tourist rental with new requirements in Portugal is punishable by heavy fines.

Among the major stumbling blocks, which make hurdles when obtaining a license is the quality of gas distribution systems and power devices. Quality of gas equipment, wiring and energy counters are monitored by special inspectors. And such inspection must be initiated by the owner after obtaining a license.

The cost of one inspection is estimated at 61 euros. But for the homeowner it is often not the only one. Often, inspectors reveal the discrepancy between the standards as building norms in Portugal are rapidly changing. Thus, the landlord in most cases must pay an additional amount for re-inspection. In this case, 61 euro is a basic rate. It can vary depending on the inspection conditions: location of the house, checking time and other.

Somehow, despite the stringent requirements for obtaining licenses, Portugal continues to be a region that attracts people willing to invest in local real estate. Today property in Portugal in almost all regions is getting cheaper. The only area of the country, where prices are traditionally high, is Madeira. Real estate prices on Madeira increased by 1.2% in 2010.

As for holidays in Portugal, renting of accommodation for tourists in this country is becoming much easier. Thus, the portal now offers dozens of rental options for accommodation, villas and apartments in Portugal online.

Ilya Kalachev

Date: 14/05/2011

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