|
Post by darcy on Jan 8, 2007 13:38:43 GMT 1
What is your experience with holiday letting in CRO - what are the costs (and taxes) and is it realistic to expect property fully booked for at least 13 weeks (3 months)?
Are there any good agencies that provide holiday letting service and what is their fee?
Where and what are the best letting properties? Apartments? Villas?
|
|
|
Post by Carol on Jan 8, 2007 17:42:55 GMT 1
|
|
|
Post by mambo on Jan 8, 2007 17:53:58 GMT 1
I think there will be people who claim that their apartments are always full, but I really wonder if they can keep that up 20 years in a row. And if their apartments are full they probably put in a lot of work and a lot of effort (read: money).
If I just look around me in Istria and listen to the people I meet on the streets/friends etc most of them are lucky when they are able to rent the apartments during 5 to 7 weeks per year.
Couple that with the cost for a company, a bookkeeper, maintenance, taxes, water/electricity, cleaning etc and I really wonder what kind of ROI they finally end up with.
To be honest, I think that you should look at real estate in Croatia first of all as nice to have for yourself and if it brings some money it is a bonus.
|
|
|
Post by Ivana06 on Jan 8, 2007 19:45:57 GMT 1
Wise words Mambo. I'm sure people could fill their apartment with friends and friends of friends for a decent chunk of the year, while they are not using it. I've booked a place with www.adriatica.net but not used them to rent my place. The owner of the apartments where we stayed had no complaints, although she lived on site and obviously did the cleaning/changeover herself which saves you having to look into a management company.
|
|
|
Post by JudeC on Jan 9, 2007 10:47:38 GMT 1
Ivano and Mambo raise good points I have also been thinking about costs of cleaning/changeover. I would only want to fill my (potential) property with friends and family, and I was concerned as to how I could get it cleaned in between visitors. I imagine that a management company would cost quite a lot in relation to what I actually want doing?? Jude
|
|
|
Post by polly on Jan 9, 2007 11:18:57 GMT 1
I have a brochure that was sent to me with the various services and costs. It is possible to tailor the services for personal needs. I can forward it to you to give some idea of charges but this is only for my locality and I believe such companies are a rarity.
|
|
|
Post by Carol on Jan 9, 2007 11:50:18 GMT 1
Regarding cleaning... i never understand why people pay a property management company some exhorbitant rate when the someone in the viallge would do it for 30kn an hour (and why does no one offer tourists cooking and baby sitting?)
|
|
|
Post by JudeC on Jan 9, 2007 12:26:40 GMT 1
Carol - thanks for the reply. Any suggestions how to go about finding someone? Is this something that you think you need to buld up local contacts for, thus needing to be around the area for quite a while? I would be quite happy to pay any kind of reasonable rate. Jude
|
|
|
Post by mambo on Jan 9, 2007 12:28:54 GMT 1
Good point, especially that of the baby sitting. On the campgrounds it is possible, but in the apartments ?
My neighbors do offer cooking and the guests like it a lot. There is a big BBQ in the garden, they have a large table outside and they grow their own vegetables. Many guests never make it to a restaurant in town, since they realize that the food is much better at the place of Juri and Nena. Even I enjoy the food a lot ! When I come home at night from work during the summer to grab a bite the first thing I always hear is 'we have enough over here, come sit down'.
I must say though, that they are the only ones in the whole neighborhood who offer food to their guest.
|
|
|
Post by Carol on Jan 9, 2007 13:44:30 GMT 1
Hi Jude The best way is to get a recommendation from someone but if you don't know anyone yet, then you should advertise. if you can offer a regular income, then you'll get lots of applications. There are no previous employment references here so you need to go on instinct when you are offering someone the job. Maybe put an incentive element in e.g. 30kn per hour but an extra 100kn per week if the people staying in your apartment commend the standards that week.
|
|
|
Post by darcy on Jan 9, 2007 14:36:36 GMT 1
Polly, if it is convenient, I would like to get a copy of the brochure.
Unfortunately, I cannot rely on locals, as I cannot be there all the time. Well, at least I know what to do if I ever retire ...
|
|
|
Post by mark2 on Jan 9, 2007 14:39:55 GMT 1
What is your experience with holiday letting in CRO ..............is it realistic to expect property fully booked for at least 13 weeks (3 months)? This will be our third summer of renting, the last two years we have had 3 months of bookings. Predominantly English but also Danish, American, Austrian, Czech, Israeli, Spanish,Fins and Swiss. Most of our guests tend to be well off business people including an Associate Director of Proctor and Gamble, MD of Europes largest logistics company and the retired head of Israels Defence manufacturing wing. They all come here for one thing, time out and the natural beauty. The first year our guests were vary rarely in the apartment, using it as a base for trips to Zadar, Pag, Kornati, Krka, Paklenica and Plitvice lakes one lot even drove to Italy for a day, but last year we saw a different trend where most of our guests just lazed about, chilled out, swam and barbecued. My piece of advice is to not just create a rental apartment / house, but put the effort in to make it a home from home. Carol is right when she quotes 30 kunas per hour for cleaning, although we do our own because we are on site. As Mambo says it's best to buy a property for yourselves and view the renting as a bonus, then you won't be disappointed. www.phoenixcroatia.com/Holiday.html
|
|
|
Post by darcy on Jan 9, 2007 15:11:50 GMT 1
Thanks, Mark, but I cannot get anybody for 30 KNs (they require micro management) and I cannot do it myself, when I am not there.
Just a question (hypothetically), would you like or would you have an interest to get a rental property close to yours and manage it, sharing the profit with the owner?
|
|
|
Post by mark2 on Jan 9, 2007 15:19:04 GMT 1
Thanks, Mark, but I cannot get anybody for 30 KNs (they require micro management) and I cannot do it myself, when I am not there. Just a question (hypothetically), would you like or would you have an interest to get a rental property close to yours and manage it, sharing the profit with the owner? Darcy, send me the details via private messaging and I'll take a look. Regards, Mark
|
|
|
Post by darcy on Jan 9, 2007 16:03:44 GMT 1
The question is hypothetical. I just want to have a feeling what people have on their mind. I do not have a property near Karin.
Reason I am asking, I could not find any decent property management company so far, but there are lots and lots of marketing agencies, some of them are OK. At the same time, I got a feeling lots and lots of properties are used only during the summer holidays. I have rented a house and the owners were simply strugling to keep the business running during the summer months. Their explanation was they cannot find anybody reliable.
|
|