5 Tips for Renting Out Property in Cape Verde
03 June 2011
Cape Verde is a tropical paradise, but it is also a developing nation that is becoming one of the world's top tourist destinations as well. Most people who buy property in Cape Verde, like most places, do so with rentals in mind. In fact the only people who don't plan to rent out property overseas are those who plan to live in it, because as well as providing an income that can go towards costs, it also can reduce maintenance bills by keeping the property aired and looked after.
But of course it can only do these things if you actually get some guests. Here are 3 tips to help you on your way.
Hire a Professional Photographer
This is a doozy. In all my time working in the overseas property industry I would say that 90% of people trying to sell or rent a property will take the pictures of it themselves. Unless they are a professional photographer themselves this is a mistake. At between £100 and £300 professional photographs will pay for themselves in the first couple of rentals, and they will really give you the best chance of success.
Friends and Family or Success?
When you buy a rental property somewhere like Cape Verde do so knowing one thing; your friends and family will expect a holiday in it, if not a holiday every year. This is no problem except for the fact they will almost always want to go in peak season. This is the time when rental properties earn their money and get the most repeat business, so family use is an absolute no no if you want to maximise the property's earning potential. Simply explain that the property must be available for paying customers at peak times in order to make it viable, most friends and family will understand.
Deliver on your Promises or Suffer the Consequences
Before you welcome your first guests, and in between parties it is essential that the property be checked to ensure you are delivering on the promises in your promotional materials. There are so many review sites online now that if you fail to meet expectations then it will almost certainly be posted online and this can affect future business. If you cannot do this then you should consider hiring a rental management firm who can do it for you.