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Topic ClosedWould you buy?

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carolenclive View Drop Down
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Direct Link To This Post Posted: 12/February/2016 at 10:40
We also love Albufeira,after all we have been regular visitors 2/3 times a year for 26 yrs.My husband retired 20 yrs ago but I only retired 7 yrs ago and would have moved to Albufeira to live but my husband didnt want to.So we sold up and bought a small cottage in the Pennines and continue to visit whenever we can.His reasons for not wanting to go were our 10 grandchildren and the thought of not seeing them daily weekly etc.I am now in total agreement with him and have the best or both worlds.
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Algarveaddick View Drop Down
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Direct Link To This Post Posted: 12/February/2016 at 11:10
We have several friends who rent out officially - some on this forum - I think for the most part they are more than happy with the income it brings in relation to the work involved. If you are going to do it, I think Dicey is right, don't do it at mates rates for friends and family, do it properly and officially.

One friend (not on this forum) has a half share in a property with his mate, and the biggest problems are after said co-owner has been over...       
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ClaireKildare View Drop Down
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Direct Link To This Post Posted: 12/February/2016 at 13:12
We are thinking of buying a second property, for the sole purpose of renting out. This would be "official", I heard it was a nightmare to register etc, is that true?
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Direct Link To This Post Posted: 12/February/2016 at 13:35
ClaireKildare - Its not difficult, I'm just doing it at the moment.

What is difficult, is trying to avoid the rip off ex-pat accountancy firms which want to charge you more in fees than you would ever make in profit !


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Direct Link To This Post Posted: 12/February/2016 at 14:42
I would echo what Stuart says (from talking to others, not personal experience). When they bought in the new law it was chaos, as all major law changes are in Portugal - they just make it up as they go along - with apparently no consultation with anyone with experience or a direct interest in the changes. They just steamroller in with their half baked ideas, often not even giving the correct information or paperwork to the civil servants and LGOs charged with administering the changes. After a lot of wringing of hands and shaking of heads, they then work out a more practical and efficient solution with people who actually have an idea about what they are doing, and it then settles down, and eventually it works. Which is where we are with the rental licence situation now.       
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bob d View Drop Down
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Direct Link To This Post Posted: 13/February/2016 at 14:23
My advice......Anyone having problems renting out are perhaps not doing it right. You need to find a good fiscal, they are out there, and they will do everything at a reasonable price and also a good management company for cleaning etc.
We only started to rent out a few years ago because we don't come over in July and August. Last year we rented out all of May, June, July, August and September. We also dictate when we come over and did so in May, June and September .
The income covers all running costs plus costs for us to spend half the winter in Albufeira.
A good fiscal will do everything required to get you the AL licence. They will also do all your tax returns. A good management company will do meet and greet, cleaning, checking, laundrey etc.
Some on here are mentioning breakages, we take a security deposit of £200 for every booking and have never had to retain it, it's amazing how well behaved guests are when they know they might lose 200. Also, the new laws state that you need the passport details of guests, similar to hotels, plus address and names of all in the party.
If your property is built for 4, don't allow 6. No sofa beds. Our management company will know the apartment is booked for say 2 adults and 2 kids , if guests arrive and there are 6 adults then they don't get in. Never happened to us but it has for our management company.


we're not brazil we're norn iron
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stuart123 View Drop Down
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Direct Link To This Post Posted: 14/February/2016 at 12:06
Good point about the newer border control laws - you must register each visitor to the property within 3 days of them arriving (and leaving) - theres an online form to do this.
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Big Col View Drop Down
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Direct Link To This Post Posted: 14/February/2016 at 13:15
We have rented private apartments or villas in the Algarve for many years, mostly in Albufeira (& perhaps from some on this forum) . It will be interesting to see this registration process in action as up to now we have only once had to provide passport information and that was last year to a German owner. The other two apartments last year did not ask.

We will be staying in at least three apartments in 2016, the first in about 17 weeks and so far no requests other than lead name, address, number in group, arrival data/time & flight number.  Confused


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stuart123 View Drop Down
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Direct Link To This Post Posted: 15/February/2016 at 12:53
Big Col - there is a good chance they are not following the rules, paying tax or complying with the "AL" rules either then!


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Big Col View Drop Down
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Direct Link To This Post Posted: 15/February/2016 at 13:11
Originally posted by stuart123 stuart123 wrote:

Big Col - there is a good chance they are not following the rules, paying tax or complying with the "AL" rules either then!




I agree but if it wasn't for information provided through this forum, I wouldn't have been any the wiser. I should add that whilst browsing various websites for available properties, many still don't quote their licence number either.
Colin
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DICEYUK View Drop Down
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Direct Link To This Post Posted: 15/February/2016 at 15:03
Aren't you supposed to have some sort of sign, certificate or licence on your door to show that you are legal if you rent out?
25 apartments in our block & I know for a fact that at least 14 do regular holiday lets.
Not one single sign on any door here so you can bet that none of the other stuff is complied with either.
And as BC says, how would the majority of owners, particulary, Foreign owners, know about this?
I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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Direct Link To This Post Posted: 15/February/2016 at 16:22
Its not a requirement to have the old "AL" signs now - any any that were issued previously are likely to have the wrong number on them!!

Anyone with the older "AL" sign should have re-applied via the council website for a new number - its free for all to apply, but you do have to make sure you comply with the safety requirements.

Anyone advertising their property to rent, must include the "AL" number as part of the advert - or again you are in breach of the rules, although I'm not sure anyone is actually enforcing them!
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bob d View Drop Down
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Direct Link To This Post Posted: 15/February/2016 at 22:35
Stuart is correct.......in December 2014 when the new rules came in it was all over the press, Internet etc. Also, accountants/fiscals knew all about it so don't think even foreign owners have an excuse of not knowing.

The authorities are always threatening to clamp down on non compliance and it should be easy enough as all they have to do is look at the rental sites and check the ones with no AL number showing. As Stuart says, all adverts have to have the AL number showing. I reckon the vast majority of renters don't have the license but it's a risk I wouldn't take as the fines for those that are caught are in the thousands.

One more thought.....what if (God forbid) there was a bad/fatal accident in your property and you hadn't got the proper license with all the safety requirements that go with it, do you really think your insurance company would cover you never mind what the law would do.
we're not brazil we're norn iron
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stuart123 View Drop Down
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Direct Link To This Post Posted: 16/February/2016 at 08:53
The "border control" reporting is also a joke, in the fact that you only report paying customers in your property!

So if you have friends/family using it - then you don't need to register them!

Surely if it really was about border control, they would want to know who was there no matter who they are?


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Direct Link To This Post Posted: 16/February/2016 at 11:11
Agree totally Stuart, who knows when we are in our own properties, we all just show our passports at the airport and walk away.
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