Buying a Apartment & Renting

[RBHJKH]

We are looking to buy a small two bedroom apartment in the Algarve. We have visited Carvoeiro many times and particulary like this area.

In order to see if this is viable for us we would really appreciate if anyone who has expreince of this venture can provide us with any advice in this respect, or guidance on the following.

Are you able to rent the property direct or does the management company rent it out?
How much does the management company cost annually and what does this include?
How much is the water bill per annum?
How much is gas & electricity per annum?
How much is buildings & contents insurance per annum?
What is the average rental income per annum (2 bedroom apartment on the Monte D Complex)
What tax do you have to pay on rental income, do we declare this in the UK or Portugal?
Have I missed any other significant expenses?
What does the Condominium costs cover?
How much are cleaning cost for rentals?

Thanks in anticipation to anyone who can help us.

Kind Regards

[sam]

You have missed out annual property tax, rental license costs and purchase costs.
Most of the questions you ask will depend on what you buy and where, and how the property is used. It is very difficult to generalise.
If you do buy, make it a lifestyle decision rather than seeing it as an investment or a money making machine.

[widge]

Sound advice Sam.

[RBHJKH]

Hi Sam,

Thanks for replying.

Sent you a message direct.

[chaucer]

Have sent you a pm