Many owners of real estate in Hurghada rent it out. This is a great way not only to pay current bills, but also to earn money — especially when the housing is simply idle without owners. But renting out housing is always a risk.
The rental market in Hurghada is represented by various options. «Investment» properties are tourist accommodation located in popular areas of the city. Such as Arabia, Elkauser, El Aheya.
Long-term lease belongs to the investment category, since the average annual rate of return is 10-15%. Although this is significantly lower than daily rent. With daily rent, the yield will be 25-30% per year. However, long-term rent is a more reliable way to make money. Undoubtedly, the advantage of long-term lease is the ability to rent an apartment during a long absence of the owner in Egypt. A long-term contract, respectable tenants, less wear and tear of housing, no stress in finding tourists and preparing housing for their arrival make it justified and common among owners.
Renting is a huge number of subtleties and surprises that can arise in the process. Perhaps no agent will advise you to independently manage an apartment in Hurghada. Especially if you are not a pro in this business, especially if you do not live in the immediate vicinity of the apartment. A reliable management company is the key to high profitability, especially during the absence of the owner in the country. Therefore, experts strongly recommend buying real estate for renting if you have the opportunity to contact reliable specialists who will take all the costs for themselves.
It should be borne in mind that in this case the amount of income will be higher, despite the fact that the owner will have to pay for the services of the manager. Of course, the owner can agree to rent out his property. He can post information on websites, look for tenants, prepare housing for receiving guests, carry out cleaning, minor repairs, be always in touch with the tenant. Obviously, this process is laborious and requires a lot of attention and time. But experts emphasize that such a case is worth taking on only if you really have experience in organizing this process.
Long-term rentals are definitely safer and more stable than daily rentals. In this case, the owner has a guarantee of income from six months to a year or longer. It is also an opportunity to find a worthy candidate, which in some cases will make housing even better. Although, this, of course, is rather an exception to the rule.
Any risks can be minimized by contacting a competent legal or management company.
For any questions regarding the choice of real estate FOR RENT in Hurghada, you can always consult with our specialists who have up-to-date information and will help you make the right choice
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