Hi everyone,

We are in the process of buying an apartment on the Monte Santo resort in Carvoeiro for our first venture into investing abroad. The rental agreement we're being asked to sign seems very unconditional with nothing in the way of safeguards for us as owners, in that we would sign the apartment over to the developer for nine months of the year for a three year period, but there are no provisions in case anything goes wrong, e.g. the developer doesn't rent out the apartment for the estimated period or rent. Or at some stage say the developer goes bust! We will have signed away our rights to use the apartment for 9 months over the next three years.

Has anyone got any knowledge or experience of renting out property through the developers, or any advice as to what are the usual rental agreements for this kind of transaction in general and/or the Monte Santo resort in particular?

cheers

Mike and Angela