It might now seem as though everything is finalised - you've sat down with your lawyer, you've signed all the paperwork, paid the price and been given the deed... But before you can head over to Portugal for a celebratory holiday, there are a few important factors to consider. The hard part is over and now it's time to ensure that your investment continues to sail smoothly.
So you are now the proud owner of an investment luxury property in the Algarve - congratulations!
The paperwork is signed, the transaction completed, the deeds handed over....however as you sip that celebratory champagne there are a few points you should consider to ensure that your investment performs as well as possible.
Ensure your new property is registered with the local Land Registry Department (Predial Online: www.predialonline.pt ) Most lawyers will take care of this after the completion of the sale. However, it’s important to check it’s done.
Regardless of whether you are planning on living in your new Algarve property, renting it out to holiday makers or having it as your own holiday home having local ‘property management’ is very important. A Property Management company will usually cover services such as gardening, pool cleaning, maintenance and cleaning services. They are your eyes on the ground and will ensure that your property is cared for when you are not here.
One of the benefits of choosing to invest through Golden Triangle Real Estate is that we know the local market and all its service providers like the back of our hands! We've moved here, lived here and invested here and, worked with most of the Golden Triangle’s local service providers along the way. We know their areas of expertise, their strengths and their weaknesses which uniquely positions us to pass that valuable knowledge to you.
Once all the important issues are taken care, it's time to finally enjoy your luxury apartment or villa. If you're planning to relocate to the Algarve, then exciting times lie ahead. If you're planning on renting your property, why not spend a week or so in the property before handing it across to a rental agency? Being your property’s first guest is probably the best way to get to know your property and help you decide if you should make any changes or additional purchases to ensure the best rental return on your investment.
If you're interested in learning more about the process of managing and making your new Algarve property available for holiday rentals, please get in touch and we will happily share our knowledge and experiences. We always aim to help and we like to think that we know the beautiful Golden Triangle area of the Algarve area better than anyone.
There's no doubt about it - if you're looking for the ultimate holiday home or luxury property to rent out, there's no better location..