realistic?

guest peter · Post by **guest peter** » Wed Aug 31, 2005 9:35 pm

Hi all,
We have a large villa sleeps 8 pool a/c, garden, secluded 5k from sea close to motorway. July/Aug rents eg £1k
We have been approached and asked if we would be interested in 2year rental 2500euros per month (they would also be responsible for rates water etc.)
This seems too good to be true,and is sending alarm bells ringing.
Am I being over cautious or is a realistic rent I can't help thinking 60k in rent why wouldn't they buy
The villa is situated in not a particular popular tourist centre or high value property area.
I would look forward to your thoughts
Peter

Guest · Post by **Guest** » Wed Aug 31, 2005 10:48 pm

Please send them my.way I'll buy a Villa just to let to them..anybody prepared to pay so much is either stupid or born to money....

tricky · Post by **tricky** » Thu Sep 01, 2005 10:10 am

Hi Peter

Are these people re-locating as part of a company package do you think?
If so, it could be feasible that they only want somewhere for a fixed period and its all paid for by the company. Do you have any other info about them?

Tricky

Del · Post by **Del** » Thu Sep 01, 2005 10:37 am

Given the present security situation, the high profile of Brits on the Algarve etc, I would check them out very carefully. This may sound paranoid, but s**t happens.

Bruxinha · Post by **Bruxinha** » Thu Sep 01, 2005 11:02 am

Yes it coud be as Tricky says and great for you if so, but agree with Del. Unfortunately you cannot take anyone at face value these days, especially here in the Algarve. So dot every I and cross every T. Find out all you can before agreeing to anything. Hope it turns out well for you though

Guest · Post by **Guest** » Thu Sep 01, 2005 8:06 pm

Come on Guys. just ask WHY.....WHY would anybody chose to pay twice the going rate.....

digger · Post by **digger** » Thu Sep 01, 2005 9:47 pm

it happens,
we have an apartment in Lisboa rented out on a five year contract, at twice the going rate. “paid for by the company” ….to quote Tricky.
I suggest you invest in a good lawyer to draw up the contract. Remember long-lets and holiday-lets are different ballgames.

Del · Post by **Del** » Fri Sep 02, 2005 10:50 am

Digger,
Do you know who these people are, renting your place in Lisbon at twice the going rate? Private companies usually go for the best price, bottom dollar.
We live in dangerous times, the whole world has been declared a battlefield by people who feel they have nothing to lose. You just can't afford to be complacent about things anymore.

hedley · Post by **hedley** » Fri Sep 02, 2005 12:13 pm

Beware !!
There is a well known scam (particularly operating in France) where "clients " rent a house over the odds, then pay up front but quickly ask for a temporary rebate of the rental. This the owner does only to discover that he has given the rebate before the original payment has cleared (the clients choose a particularly long winded payment method). They then cancel the rental and the owner is left with no income and has paid up the rebate.[/b]

B2D · Post by **B2D** » Fri Sep 02, 2005 12:47 pm

...and it'll mean that you don't have a holiday home for 2 years

Del · Post by **Del** » Fri Sep 02, 2005 7:47 pm

Wow!! Me and my simple mind!!

digger · Post by **digger** » Fri Sep 02, 2005 9:05 pm

Del wrote:Digger,
Do you know who these people are, renting your place in Lisbon at twice the going rate? Private companies usually go for the best price, bottom dollar.

I agree that one can’t be too careful, especially in countries like Portugal where the long-term rental laws are in the tenant’s favour.

But Del, in my experience company employees don’t have a problem spending company money. It’s all about budgets: if a guy from London has a housing allowance of say €1,500/month to live in Lisbon, and your av. nice 2 bed apartment goes for €1,000, and the perfect place costs €2,000, with a little help from his finance director, he takes the extra 500 from a different pot of money. …. he may need to make two separate monthly payments.

I wouldn’t bother advertising my place with your average estate agent in Lisbon, but only with the ones that are known by the corporates and embassies…. where money is not a problem. The local agents would laugh when hearing how much I wanted

Also, I think the landlord is safer if he keeps the utility bills in his own name

tbbr · Post by **tbbr** » Thu Sep 08, 2005 12:39 pm

We were only discussing this last week in CVO, the consensus was be VERY carefull as the law is on the tenants side.
We were told of stories of renters who had not only defaiulted on payments but also cleared properties of their contents before doing a midnight flit.