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The contract is the law. In the event there is an issue the judge will fall on the contract. So make sure it is solid and protects you.

You will need to hire someone to maintain the property and make repairs.

Ask for references, check with the prior landlord what these people are like and do a background check and a financial check. You do not want them living there for 6 months for free before you can push them out. Renters tend to know their rights even if you don't.

Thanks, Rey.  Fortunately, we already know a good, dependable maintenance guy. We would just need to find the right renter.  Sounds like the same laws apply here as in the states...

Rent prices are lower than in the states. Ask for references and do your homework on the tenant. Make sure you have a contact, preferably have a lawyer make the initial contact for you.

We have talked to a few locals who said to do vacation rentals instead.  I think we will go this route.  We have found a dependable guy to manage it.  We just signed a purchase agreement today... Excited!

annabfalter wrote:

We have talked to a few locals who said to do vacation rentals instead.  I think we will go this route.  We have found a dependable guy to manage it.  We just signed a purchase agreement today... Excited!

Congratulations!
Vacation rental gives you the most money in the least amount of time

Congratulations, soon you will have your new place.