Want to sell your overseas property? Want to advertise your holiday home to rent to 40 million possible renters. Contact us on info@myoverseasproperty.ie
LE MAS DE L’ECOLE is a closed development, made of villas inspired from Provence style,surrounded by cypress trees among hills and olive fields.
The exceptional orientation and individual gardens allow the residents to enjoy the climate of the region. The coloured design perfectly complies with the local landscape.
In this but to let system, the purchaser buys a property that will be let as a main residence to private tenants.
Management of the property (search for and management of tenants, day to day management, and payment of rent) is guaranteed by a management company with which the owner signs a management agreement. Personal occupancy is not possible for the owner for the duration of the management agreement.
The property is purchased and let unfurnished. The payment of rent is guaranteed, but not the amount, which will depend on the local market (supply / demand).
However, a certain number of additional guarantees are offered to the owner, including the guarantees are offered to the owner, including the guarantee of rents even if the apartment is vacant, a guarantee on repair costs if any damage is caused by the tenants and a guarantee to find the first tenant for you.
The management agreement is generally signed for a period of 9 years, after which the owner can retrieve their property for their own personal use. This is particularly advantageous for purchasers who wish to occupy their property as their primary residence or as a second home when they retire, for example. For 9 years, the owner will pay off part of the investment, thanks to the rental income received.
The rental income is generally paid on a monthly basis by the management company.
The property is acquired all taxes included, and no VAT is to be reimbursed. The average yield varies between 2.5 and 5.5% per year.
The developments sold off plan are subject to a reduced rate of notary fees. These developments are generally situated in places where there is a high rental demand, and are therefore not limited to so-called tourist areas.
