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How to Rent Your Property Long Term: Part 1

How to Rent Your Property Long Term: Part 1

If you are thinking about renting your property out long term then it is worth being aware of the legalities before you start. Firstly you will of course need a NIF number (but you will have already had this before purchasing) and you will also need access to the Portal das Finanças. You will have to create a contract with your new tenant and it is advisable to use a solicitor or lawyer to do this.

The Contract

In order to set up the contract you will need to know the following information:

  • a copy of the tenant’s identification, including the Portuguese fiscal number (NIF)
  • amount of rent to be paid per month
  • how the rent will be paid, if by bank transfer then your bank details will need to be included
  • date for the start of the contract and the end and whether or not it is renewable
  • any specific conditions of letting e.g. whether pets are allowed
  • whether the utilities e.g. water and electricity will be paid for in the tenant’s name or your own
  • whether the property is furnished or unfurnished, if it is furnished then an inventory can be attached to the contract

In part 2 we talk about the costs of renting.

Have you rented a property in Portugal, what were your experiences? Please comment below.

Photo by Nienke Burgers on Unsplash

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