Hi Mike / Angela
Just signed up to this web site. We (Simon/Sara & Phil/Lynda) have purchased a T3 and just had through an information pack that arrived this week.
We have also gone for a 3 year deal on the rent side of things. I'm going to read through the details this week and if I'm unsure of anything I might be tempted to involve our Portuguese lawyer. I know your posting was a few months ago. Can I ask if you have resolved your concerns?
I understand from the estate agent we purchased this through that the opening is 1st July
Also can I ask if you have a direct contact at IMOCOM where you have posted questions or concerns as I have found details from them to be limited.
Cheers
Simon
Thanks
Quote:
Originally Posted by blackersmanda
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
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