Exactly, it’s a normal rental contract. You are just renting the room as opposed to renting the whole apartment
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And you being an expat, how would you manage the Portugal properties rented by the room? What are the mgmt costs associated?
My real estate agent has a management company which will be doing the legal management (contract/tenant management) + operational management (repairs, etc) for 8% of yearly rent.
Should come out to 1 month rent out of 12 for the managing costs.
that sounds super lean, great stuff. I was paying 10% for mgmt of long-term rentals (in Central-EU) and not short-term by rooms. In Hungary, AirBNB mgmt is closer to 20-25% of revenues.
I have never really considered using an agent to manage the property. They will probably take 10% of your rental if you rent on an annual basis and 30% for holiday rentals. This seemed a good way to wipe out the entire margin to me so I do it myself.
this thread is about investing in RE abroad, which kind of assumes you’re not physically there where your property is.
what really wipes out margins is if you need to fly ASAP to fix something broken or something personal with a difficult tenant.
RE abroad is just too much hassle.
hi all, I own a property abroad and was told by the notary that in order to sell it, my wife needs to give her consent or be present during the transaction. Does anybody know if it is sufficient that such consent is written by ourselves and then the signature is approved by a respective notary? The Swiss law applies here (Errungenschaftbeteiligung), as both uf us got married and we reside in Zürich.
In general, a signed power of attorney accompanied by proof of identity is sufficient. In the case of a foreign transaction, going through a notary to authenticate the person is normally sufficient.