Rent out your villa or apartment in Vilamoura or Algarve and earn extra income
Want to rent out your villa or apartment in Vilamoura or anywhere else in the Algarve? airffortless will help you rent out your holiday home with minimal effort and maximum profit. Read on for a detailed guide on how and why you should rent out your holiday home.
Do you own a property in Vilamoura or anywhere else in the Algarve? Or are you maybe considering purchasing a property elsewhere along the sunny coast? Whether your property is intended for personal use or as a long-term investment, the benefit of renting it out is real. Tourists in search for the sun, pristine beaches and open waters are flocking to this beautiful part of Portugal for the holiday season and the boom in tourism means there’s a high demand for rentals.
The Algarve is the perfect location to make extra rental income by renting out your own villa or apartment. However, in order to make prime rental income through an honest, efficient and hassle-free experience, you have to make sure you hire a professional rental management firm to assist you with the process.
By offering unique protection packages, competitive pricing and next-generation technology, the airffortless team is the most competitive and innovative rental management firm in the Algarve. With this blog post, we intend to educate property owners on how we can get you prime rental income by renting out your villa or apartment on a short-term basis.
Tourism in Vilamoura and the Algarve – all year round
The year of 2017 was a record year for the tourism sector in Portugal and the Algarve. Not only did the Algarve region witness an increase in tourist arrivals but also a rise in the average spend per visitor. Historically, the Algarve has been known for its radical seasonality pattern with a peak-season between May and September. However, the region is now becoming increasingly popular as an out-of-season place, competing with other Portuguese destinations such as Porto and Lisbon.
Golf courses, nature hikes and sailing opportunities provide all-year activities for sports enthusiasts to visit the Algarve. Additionally, local residents will tell you that restaurants which are typically only open during peak-season now keep their kitchens open throughout the year, making the Algarve an even more attractive destination for off-peak season visitors. The region is also witnessing a large number of exciting investments promoting all-year round tourism. Examples of such projects are large-scale retail destinations and indoor water parks.
What do I need to know to rent out my property in the Algarve?
Combining a flourishing tourism industry, increased off-season activity and a favourable regulatory framework, property owners have the ultimate opportunity to make the most out of their investments, all year round. However, renting out your villa is an undertaking and you might ask yourself the following questions;
- How do I make sure I comply with all the necessary regulations?
- Which online home-sharing platforms should I use and how do I make sure potential guests find my listing?
- How do I make sure that I earn prime rental income while my property is being well looked after?
- Does my property comply with fire & safety regulations in my specific area?
- How do I make sure that the property is professionally cleaned and ready to host demanding guests?
- Am I supposed to pay taxes and/or VAT (IVA) on my rental activity?
It might sound daunting but don’t worry, airffortless is here to help you rent out your property in the Algarve and answer any problems or questions you may have regarding the process.
Why hire a rental management firm in the Algarve?
It is entirely possible to rent out your villa or home on your own. However, with the help of an industry leader, you’ll get the professional advice and structure to advertise your property and make sure that you comply with the existing regulatory framework. Renting out your property on your own is a time-consuming and sometimes stressful feat – this is where airffortless comes into play.
That’s why we typically recommend that property owners get the assistance of a professional rental management firm. The selected firm should not only guide you through the administrative process but also care for your property during the rental period and make sure that the entire process is hassle-free and truly effortless.
At airffortless, we focus on providing our homeowners with a bespoke and personalized service making sure that each property owner feels comfortable and informed while they’re making prime rental income. Below you will find a brief indicative guide for how airffortless typically approaches the short-term rental process alongside the homeowner.
STEP 1 – WE SET UP A TIME TO PERSONALLY INTRODUCE OURSELVES AND VIEW YOUR UNIQUE PROPERTY
We’re excited to see your property! Upon contact, one of our experts will arrange for a convenient time to meet with you or a representative. During our visit, we will present a unique and detailed indicative rental forecast report outlining your expected rental income, based on comparable properties in your specific area. It’s important that our homeowners are fully informed of the current market conditions and we strive to remain transparent through all stages of the rental journey.
STEP 2 – WE WILL GUIDE YOU THROUGH ANY POTENTIAL TAX IMPLICATIONS
Prior to making the property available for rent, we’ll guide you through the various tax and accounting options available. It’s important that each homeowner is aware of the pros and cons of the various rental options available. Many rental firms in the Algarve tend to steer property owners into options featuring low-tax solutions without being aware of their potential disadvantages including risk for double taxation.
STEP 3 – WE WILL MAKE SURE THAT YOUR PROPERTY COMPLIES WITH REGULATORY FRAMEWORKS
Portugal was one of the first countries in Europe to formulate an official regulatory framework for short-term rentals. One of the cornerstones of this framework is the need for a rental license, a so-called “Alojamento Local”. When renting out your villa in the Algarve, it is vital to have your AL license. We will assist each of our homeowners with the application for an AL license as well as make sure that the property complies with the ever-changing regulatory framework. We will also manage and be physically present at the inspections by the local authorities.
STEP 4 – TIME TO GET CREATIVE!
Once the administrative process, regulatory framework and tax guidance have been completed, it is finally time to get creative. With over 42 thousand AL licenses available nationwide, we truly believe that each listing has to be unique and professionally curated. We start by taking professional photos of your property. During the photo shoot we will bring our in-house stylist who will make sure that your property looks the best it can, it is vital that when you make your villa available for rent, it will appeal to the broadest range of potential guests.
STEP 5 – LET’S MAKE SURE THAT POTENTIAL GUESTS ARE EXPOSED TO YOUR PROPERTY
Once we have curated the listing, we will make it is available on some of the world’s largest booking platforms. At airffortless, we prefer to work with one of the most innovative and favorable booking platforms; airbnb. Airbnb allows us as the renter to be more selective of the potential guests, this with the help of their innovative and reliable review system. We will also make the property available on HomeAway, booking.com and TripAdvisor. In addition to advertising on these globally recognized platforms, we work with a number of boutique travel agencies around Europe allowing us to reduce the booking platforms’ service fees.
It’s now time to take care of our beloved guests!
Once we have managed to get bookings and it is time to host our guests, airffortless will provide the following:
CHECK IN AND CHECK OUT FOR GUESTS
We will personally handle all guest check-ins and make sure that someone is available for any potential check-ins, most of the questions do arise within the first day of the guest checking-in.
LUXURY BEDDING, TOILETRIES AND CLEANING SERVICES
During the time of renting our your villa, we will provide delicate hotel-standard linen and towels for every stay. Additionally, we will also provide your guests with our in-house designed toiletries kit ensuring a unique experience. Following every stay, we will provide professional hotel-standard cleaning, ensuring that your property is well looked after and always at its prime. We will also spot any potential day-to-day maintenance needed.
At airffortless, we will provide 100% hassle-free rental management of your property. We offer a 24/7 support center for our guests making sure that all guest communication is taken care off. We also monitor various local and regional demand variables to ensure maximisation of your property’s occupancy and rates.
Rent your holiday home in the Algarve today!
Are you looking to earn extra income from your property in Vilamoura or anywhere else in the Algarve? Get in touch with airffortless today to discuss your options and one of our professional team members will gladly walk you through the process and help tailor a solution that will be just right for your needs.