Long Term House Letting Agents

Please talk to my friend Luis @ Algarve senior living link: Luis da Silva [***] He deals with a lot of long term accommodation in Portugal and maybe can help you.

Thank you, I certainly will.
Kind regards
Traceylee

Hello everyone,

@ The Gaskin, you will also find some recommended contacts in the business directory under the Real estate in Porto section. The recommended ones are those with thumbs up.

All the best,
Bhavna

Good news!

We found a house overlooking the river and it suits us very well. However the bad news is that we had to cut open a vein and give all we could to rent this place. Crazy considering most are doing AirBnB inviting alternative paying strangers in week on week.
:-)

Hi Gaskin,

Glad to hear on the good news. Is it along the Foz area or Gondomar area? Renting market here is pretty tight and I am glad to hear that you manage to secure one.

Should you need any other opinions or consultation on Porto home hunting, do contact me.

Cheers,

Fei

Hi @ The Gaskin,

There are financial (tax) and other reasons why landlords are turning to AirBnB rather than long-term rentals, which have historically favoured renters until deregulation in recent years.

Unfortunately, the combination of the deregulation of rental agreements and the tourism boom coinciding with the end of the economic crisis has resulted in landlords evicting tenants in favour of vacation rentals. This is not a new story (see old neighbourhoods in Lisbon turn into tourist zones), nor is it specific to Portugal (see Barcelona, or any European capital).

Tourists need to bear this in mind when booking apartments through AirBnB versus hotels, that these places are no longer available as residences for rent. They're great when you're a tourist, but not if you're looking for a place to live.

I'm speaking in general terms (not finger-pointing), as an explanation for why you're now paying an arm and a leg for a rental to get the 4-month visa. It's a landlord's market, and they know it.

The rentals outside the coveted areas (river views, central locations) are normal prices, but generally require a fiador (guarantor).

Gail

Well sadly after 2 trips from Dubai to Porto and a signed contract, the owners pulled out. I am very surprised as they had been looking for suitable tenants/purchaser for some time. We were feeling a little insulted (treated like potential criminals) with the documents and money we had to put down due to not being Portuguese residents, but decided to keep it positive as it was worth it. We also discussed and agreed that in time  if we liked the house/area we would discuss purchase with them.

There are only a few on the market (unless you can afford to pay 5k per month) so my delight in finding somewhere we liked very much has now changed to needing to find another quickly no matter what.

I have to say the landlords put a lot more effort into the Air BnB interiors than they do in long term rentals. I am back on Thursday for house hunting so fingers crossed.

Also, getting a fiscal number - so easy.

Back with an up-date next week!

Hi Gail,

I agree with what you have written and some countries are now changing the Air BnB tax regulations, so maybe not such a good business for the future if Portugal does the same.

We have rented in many countries and classed as a favourable selection for a tenant. Our present rental in Dubai that we have had for 5 years is three times the amount of the Portugal one we selected, and the landlord is offering a rent reduction for us to stay, as he should because we are excellent tenants.

My confusion is, both having professional jobs and offering a year advance, having fiscal numbers guaranteed by the governments, bank accounts with credit cards guaranteed by the banking institute, why would you need a guarantor? and only knowing  your new employer and the estate agent, who would you have as a guarantor?

The City should want professioanl people to stay and support the economy by spending their hard earned money? Portugal, sorry to say, has an old-fashioned and bias selection process that may just hurt their future. Sadly if we are unable to find suitable rental next week, we may think of changing our destination completely.

The Gaskin wrote:

Hi Gail,

I agree with what you have written and some countries are now changing the Air BnB tax regulations, so maybe not such a good business for the future if Portugal does the same.

I can name a few countries where Airbnb's is being hit hard due to the owners avoiding tax payments and quite rightly so. Why should landlords that let out with long-term lets and do it by the book pay tax and then others paying nothing? It's all changing, so when they work it out its less work to do long term lets they will soon change their minds about Airbnb.

The Gaskin wrote:

My confusion is, both having professional jobs and offering a year advance, having fiscal numbers guaranteed by the governments, bank accounts with credit cards guaranteed by the banking institute, why would you need a guarantor? and only knowing  your new employer and the estate agent, who would you have as a guarantor?

The City should want professioanl people to stay and support the economy by spending their hard earned money? Portugal, sorry to say, has an old-fashioned and bias selection process that may just hurt their future. Sadly if we are unable to find suitable rental next week, we may think of changing our destination completely.

I can't assume to know why your prospective landlords backed out, but I think you're confusing private rentals with public policy. The city doesn't own these rental units, these are private landlords. If a private landlord prefers to rent to those who have a financial guarantor — a person who is held financially responsible for paying the rent in case the renter decides to break a contract — then it's their prerogative. Maybe they view foreigners as more transient than a local with a guarantor. There are other landlords who will negotiate without a guarantor, but it's up to you to find them. There are lawyers and individuals who will sign as guarantors for a fee.

I work with foreigners, none of whom have guarantors, and with persistence they have all been able to find a home. So, while difficult, it is far from impossible.

Hi Gailatlarge,
We have also found a home now, although not required this time we were prepared to pay one year upfront and provide all salary/contract copies, do you realise that could mean forwarding 30K plus to a person you do not know - we have a risk also.

You must also keep in mind there are very few unfurnished family homes on the market and you do need to be physically in the City to start your new job on the contractual date.

Back to the guarantor - a bank with no history as yet, parents that are elderly, an employer when we are just starting a new job?? It's archaic. I worked as a professional all my life for this.

The red tape is ridiculous, let me put this one out there. To get my shipment clear at customs I need a document witnessed by 2 people that have known me for 3 months in the area I am going to reside. I don't live there yet, I don't know anyone yet. How absolutely stupid to request this.

As you see I do not think much of the system, some bureaucracy is due to ignorance or greed, however I am a solution provider and have fought my way through, I can now enjoy living in Porto and this experience will enable me to help others.