Property Management Lisbon, Portugal: Your Essential Guide

Lisbon’s property market offers appealing opportunities for investors seeking a high return on their investment, with a range of property types available and entry price points. However, to effectively manage your property, particularly if you are overseas, working with experienced property managers is key to safeguarding your asset and maximizing your investment returns.

This article, Property Management Lisbon Portugal, will act as your essential guide, including the benefits of having a property manager by your side, typical costs, and practical tips and guidance.

What are the benefits of hiring a property manager in Lisbon?

A property manager in Lisbon will provide you with peace of mind that your asset is being well taken care of, maximize your investment potential, and take responsibility of the maintenance and management of your property.

Maximize your rental income in Lisbon

• Rental strategy: Expert knowledge of Lisbon’s property market, factoring in seasonal fluctuations and neighborhood values, and leveraging the latest tech and data to set optimal rental rates and secure a strong ROI year-round.
• Tailored expert advice: A good property management will be able to provide targeted insights specific to your property to boost your revenue.

Navigate Lisbon’s regulations

• Alojamento Local (AL): Short-term rentals in Portugal need an Alojamento Local (AL) license. Property managers will be able to help you understand Lisbon’s specific current legislation regarding AL restrictions, navigate renewals, and reporting, and assist with managing your short-term rental.
• Contract reviews: Property managers can review the rental contracts and make sure they adhere to Portuguese tenancy laws.
• Fiscal representation and taxes: Property managers can help you understand your tax obligations and can assist with issuing your rental invoices to the Portuguese tax authorities on the Portal das Finanças.

Peace of mind and hands-off maintenance

• Your local contact in the city: Your property management company will be your ears and eyes on the ground, letting you know if anything is amiss, providing 24/7 communication with tenants, and handling any complaints and feedback from tenants.
• Property maintenance: They will work with local contractors, plumbers, electricians, etc., for efficient repairs and upkeep of your property.
• Financial assistance: Accounting for expense tracking and financial reporting can be exhausting. Your trusted property management company will be able to provide you with all the details regarding taxes, fees, and costs so you are kept in the loop without having to do the hard manual labor yourself.

At Goldcrest, we can assist you with managing your property, with property management services including property set-up and the maintenance and management of long term rental properties. If you are seeking out a rental property, we can also guide you through the process of buying property in Lisbon.

What services do Lisbon property management companies offer?

Many landlords find it challenging to keep up with financial obligations, tenant management, and the general maintenance of their property.

Below are some of the key services a trusted property management team can help you with to save you time, and maybe even money in the long-term.

Particularly if you are based overseas or do not speak Portuguese, it makes sense to work with hospitality experts and real estate experts to maximize your profits from your property.

Smooth property operations and maintenance

• Routine inspections
• Repairs and renovations
• Cleaning and housekeeping after each tenant’s rental period
• Maintenance of your swimming pool and garden
• Utility set-up and management
• Keep an account of bill payments

Managing and reporting finances

• Provide detailed financial statements and regular reports on income, expenses, and net revenue
• Track property-related expenses and rent receipts, such as taxes and condominium fees (if applicable)
• Manage the efficient transfer of rental payments to you, the owner

Additional services

• Handover of keys
• Concierge services (if applicable, such as welcome packs and local guides for guests)
• Create a detailed property inventory
• Professional photography and marketing
• Airbnb management and help with direct bookings for your property
• Ensure a high occupancy rate throughout the year
• 24/7 support and communication services for tenants
• Identify equipment or furniture that may need to be replaced

You can find out more in our article: Property Management Portugal.

Choosing a Property Manager in Lisbon

To find a property manager in Lisbon, consider:

• Level of experience: Work with companies that have a proven track record of helping foreign property owners and managing properties similar to yours.
• Knowledge of rental yield and property appreciation: Lisbon has high rental yields, with yields for the Greater Lisbon Area rental standing at 6.8 percent. Work with experts who understand how to maximize the return of your asset in the long-term.
• Local expertise and understanding of regulations: Make sure the company is up to speed with Portuguese regulations, Lisbon real estate market conditions, and potential future changes to regulations.
• References: The best way to assess a company is through referrals and references. Check what previous clients have said about the company to gauge their service quality and whether they are good value for money.
• Transparent fees and clear pricing: Make sure fees are clear and you understand the costs up front, and that they are aligned with your budget and expectations.
• Comprehensive services: Make sure the company offers the services you need and that their service packages include what you need. Ask questions. For example, if they say they carry out regular inspections, what does this mean in practice? How often will they visit your property? Do you need full-service rental management or simply a property management company to check on your property while you are overseas? Make sure you are crystal clear on what they offer and what exactly you get in practice.
• Communication and responsiveness: Find out about the company’s communication channels and how often they will update you on the status of your property. Also, measure their level of responsiveness when you need to get in touch with them.

Goldcrest: Your Property is in Safe Hands

Goldcrest is the first buyers’ agent in Portugal. Based in Lisbon, Porto, and the Algarve, we’ve helped hundreds of individuals uncover their dream home in Portugal.

We also know that owning property in Portugal can be a challenge, especially if you are based overseas. That’s why we offer comprehensive property management services for long-term rentals, providing tailored solutions to your individual needs.

With experience in managing properties and in-depth local knowledge of the local market, get in touch with us to see how we can help you achieve your property goals.