Again about rentals. in Portugal
Are you renting your property to vacationers?
By PEDRO MIGUEL
IN THE previous article, I wrote about the New Urban Rentals Law. It was dedicated to those renting property for permanent living. This article is dedicated to those renting to vacationers, a very common practice in the Algarve and one that is normally in the mind of those who buy an apartment or villa in the region. These rentals are known as “parallel beds” by the bigger and more formal tourism operators (i.e. hotels, guesthouses).
The law that regulates this type of rentals has changed considerably and for some time now, but not many people know exactly how and to what extent. Some rental agencies and property owners have already suffered severe fines due to lack of knowledge. A few of those agencies even had to close doors, not being able to pay the hefty fines.
Be aware: the intention is not to scare you off from putting your property on the market, but to<
This article is written and provided with permission by Robert M.L. Snapper, fully licensed real estate agent in Portugal.
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