When you first decide that living in Portugal is right for it is a good idea to start looking to rent a property before choosing where to buy, renting is also a great option for long term prospects with the market currently being very competitive.
Renting a property in Portugal is a very simple process and new laws have just recently been brought in to make it safer and easier for both land lords and tenants to get the best deal possible.
When renting a property in Portugal the legal way to go is to make sure that you get a rental contract. There are many people offering apartments without contracts but this is very dubious as you have no rights in the property and there is no record of you actually living in a property.
When you have a rental contract you can then use this as part of your IRS form and it may benefit you to declare the rent that you are paying out. It is also illegal for a person to rent out a property and not to declare their income from it – although this is not to say that many people don’t do this all over Portgual.
The new laws in Portugal now mean that you need a rental agreement for any length of time with the minimum period being one day and the maximum being 30 years. It is most common to have a rental contract on a yearly basis but they can be longer if you and the landlord are happy with this or they could be shorter if you are only looking for a place over the summer or the winter months – you will need to discuss your needs with the landlord.
The new rental laws mean that landlords have more rights to be able to evict tenants who do not pay rent for more than two months or if they are consistently late in their payments. but it is also good for the tenant as it means you can not be evicted without proper notice if you have always payed your rent on time.
It is up to the landlord to sort out all the paperwork for a contract for rental but you will need identification and your fiscal number as a minimum for the contract.
Renting a property in Portugal is a very popular choice for many people and the current market means you can pick up long term rentals for as little as €450 for a villa with pool a month in the Algarve while apartments are much cheaper.
To find out about rental properties in the area you are wanting to live in have a chat with local people who may know of opportunities or visit a local estate agent who may have many contacts of property owners looking for rental clients.