I bought an apartment in Portugal last year.
While not intended primarily as an investment, I would like to rent it for enough weeks to cover the ongoing costs - community charges, local property taxes, fiscal representation, property management fees, utility bills, etc.
Can anyone recommend the best way to go about this? I know that you can let to family and friends (usually at a discount on normal commercial rates) and that there are some websites available (e.g. familyhomes.ie, ownersdirect.co.uk, etc.) but I would be interested in hearing from those who have been there, done that as to what worked for them and why.
Also, if anyone can throw some light on the tax position on overseas rental income (in particular, the extent to which expenses can be offset against rental income in cases where some personal usage is involved), I would be very grateful.
Regards
Homer
While not intended primarily as an investment, I would like to rent it for enough weeks to cover the ongoing costs - community charges, local property taxes, fiscal representation, property management fees, utility bills, etc.
Can anyone recommend the best way to go about this? I know that you can let to family and friends (usually at a discount on normal commercial rates) and that there are some websites available (e.g. familyhomes.ie, ownersdirect.co.uk, etc.) but I would be interested in hearing from those who have been there, done that as to what worked for them and why.
Also, if anyone can throw some light on the tax position on overseas rental income (in particular, the extent to which expenses can be offset against rental income in cases where some personal usage is involved), I would be very grateful.
Regards
Homer