Buy-to-Let Property in Italy and Managing Your Property
The Riviera dei Cedri region is a very popular sea-and-sun holiday destination.
Please find average rental figures in the area below.
Cities: Scalea, S.Maria Del Cedro, Marcellina, Praia-a-Mare, Tortora and nearby villages
Estimate rent figures for average 1 bedroom apartment: 80-120 EUR per day in August, 50-60 EUR per day July, 30-40 EUR per day June and September, May and October prices vary and are usually about 20-25 EUR per day or 100-150 EUR per week for longer lets.
Example of rentals return from 10 apartments: income of about 70,000 EUR per year, less costs about 28,000 EUR per year, gives estimate profit about 42,000 EUR per year (70% yield per year). Calculations are based on owner doing
rental management themselves and 100% occupancy during months mentioned.
REMOTE RENTAL MANAGEMENT:
We offer check-in/check-out and cleaning services, giving your the option to market your property for let yourself and only notify us when your tenants are moving in/out. This costs 55-75 EUR per service, per apartment depending on size and location and includes bed linen washing/change. Our staff speak Italian, English and Russian.
- meeting your tenants at our office in Scalea or at your property address during working hours
- check-in and explanation of rules of rental
- check-out, keys collection
- final cleaning of the property, including washing and change of bed linen
For additional charge, we can organise:
- taxi to/from train station or Naples/Lamezia/Rome airport
- meeting your tenants outside of working hours
- cleaning of the apartment before 1st rental
- shopping for the necessary items
Please contact us for any requests mentioned above
BILLS PAYING SERVICE
From 2019, most properties we sell have pre-paid bills (except electricity and gas). As gas is bottled, no management is required for it. . For electricity payments management cost 120 EUR per year. Name change on existing electricity meter cost 50 EUR + about 90 EUR electrical company's charge. For new electricity meter installation price is 50 EUR + about 500 EUR electrical company's charge.
If your bills are not pre-paid, we also offer bills paying service, which cost 195 EUR per year, so you can be sure that you don't overlook an important utility bill and electricity is there when you arrive for your next holiday.
Other services such as shopping, booking a taxi, refurbishment, car repairs, accompanying you with or without interpreter etc. could be provided and prices are set on case by case basis.
Please check out a few things you must provide and few things we suggest you have when letting out your property to holidaymakers:
- property must be furnished (we suggest including sofa bed (or sofa + temporary bed) in living room, in order to maximise rental income and accommodate maximum legally possible number of people)
- two sets of bed linen for each bed, 1 blanket for each bed and two sets of 3 towels for each person must be provided
- full set of kitchenware must be provided
- three sets of keys must be provided
- photos of your property must be provided to us (we can make them for you for a charge)
- you must provide installed smoke detector (we can buy them for small charge)
- one lockable wardrobe must be present (to store your personal belongings and things you do not wish to provide to your tenants) and one wardrobe for use of tenants must be provided
- we suggest property should have at least one air conditioning installed and/or fans provided
- we suggest property should have at least one of each: TV, hair dryer, iron and ironing board
- we suggest you provide WiFi Internet to your tenants
If you have more question about buy-to-let or if you wish to buy a few properties to create a buy-to-let portfolio and want to discuss price, please contact us.