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Investing - Property-Rental-Apartments-Villas

Rental Apartments/Villas

There are a number of rental apartments/villas. Rental apartments are easy to find online. You can search for websites advertising rental property in Cape Verde, just make sure you research which island you want to visit. Some islands will be less populated and not be as touristic as other islands or may not have the white sandy beaches you were looking for.

There are also some Rental Agencies on the islands, more on those that receive more tourists. The rental rates again can vary, and will/may depend on:

- who is renting them out.

- how close to the sea you are

- the number of bedrooms you require.

- whether it is in a complex with a pool

- whether it's summer or winter season

- what additional facilities the apartment provides guests

Security of apartment

Use a safe where possible, most hotels have them in their rooms, but not sure about rented apartments/villas.

Some developments provide security guards over night or 24hr, which you will contribute as part of the service charge (if you buy one of the apartments there).

Whether you are in an apartment or somewhere without security, there are opportunists may be about and if you leave windows or doors open, whether you are in it at the time or not, some may try and enter your property.

If buying on a secure complex, check the service charges as they will be higher if you have security.

Buying an apartment in the town

Some people prefer ground floor apartments, but then take additional security measures on doors and windows. First and second floor apartments can also be targeted by opportunists if there is easy access to a balcony or via the staircase.

Self catering

Most rented apartments will not have additional items to keep you entertained so you need to check what is available before booking.

Music or Games: Bring some books, cards or IPOD with speakers with enough batteries or a charger, or maybe some other form of shared activity/entertainment if staying in a rented apartment.

Most apartments may have TV's, you can't always guarantee that the TV a DVD player or CD player will be available in your apartment or if it is, will it work when you arrive, so consider other entertainment. These days you can bring a range of things with you in case there are those days where you just need to stay in doors. Just bring enough batteries, the right charger and if you have unlocked phones you can also use a local sim for calls and internet.

Finance Office :

If you notify the Finance Office in Espargos that you intend renting your property, they ask for 10% of your rental income! If you have previously rented your property and declared the income to Finanza, but then decide not to rent it, you should consider informing Finanza that you no longer will be renting it. Have a letter drafted in Portuguese saying so, get Finanza to accept it and then to stamp it so you can keep it or a copy, it would also be good to see that it has been noted on the Porton di nos Ilhas website, that is the system they use to input data on tax using your NIF number for each client/owner. It would be unfortunate if you left this for someone else to do, only to find out that years later they may say that you are still on the system, or owe money. Make sure you pay all tax before closing the account and get any receipts and keep them safe.

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