More and more apartment owners in the larger European cities are moving away from traditional rentals and are opting for renting to expats. Why are month-to-month rentals becoming to popular?
Table of content
The rental market in Europe
Types of rentals
In most major cities in Europe 3 types of rentals coexist:
- Traditional long term unfurnished rentals.
- Monthly Rentals (1-11 months).
- Short term holiday rentals.
The holiday (airbnb) market is clearly saturated in a lot of cities (such as Barcelona, Amsterdam, Paris, etc). Traditional rentals scare many apartment owners because of potential payment problems and the risk of a bad tenant (with no way of kicking him out). However, more and more apartment owners in the larger European cities are choosing for mid-term expat rentals and are renting to expats.
What are expats looking for?
When the duration of the foreign assignment is less than 1 year, what often is the case, the expat encounters important challenges and obstacles when searching for an apartment and often ends up using the services of a company like Globexs. What are expats looking for?
This kind of rentals is exactly what foreign professionals are looking for, and clever apartment owners recognize the opportunities.
The market for expat rentals is growing
Are mid-term rentals exclusive for expats? No, of course not. Not only expats are looking for mid-term furnished rentals, but the growing trend of global mobility is increasing the demand for flexible housing.
More and more people work online and location independently, and live accordingly: The move around and live in a different city every few months. This growing group of digital nomads is specifically looking for mid-term expat rentals. Indeed, a lot happened since 1980 when Dolly Parton released the song 9 to 5, and more and more people are trying to avoid the standard 9-5 model of work. In fact, by 2035 there will be an estimated 1 billion of digital nomads roaming the planet. The housing market is responding.
What are the advantages of renting to expats?
Expats are foreign professionals. They move to a new city for a certain period (usually between 1 and 11 months) for a project or an assignment, or simply because they want to breath a fresh air (and their location independent job allows that). They are the perfect tenants for a number of reasons:
Why renting to expats with Globexs?
Why use the Globexs platform?
Globexs is the number one platform for expat rentals with 12 years experience. We are the industry reference in Spain and Belgium. Apartment owners love working with Globexs for many reasons:
At Globexs we dedicate a lot of time explaining to home owners the specifics of renting to expats. Renting to expats can be very lucrative, on the condition that it is managed correctly. The management of an expat apartment requires a relationship of trust and confidence between the owner and Globexs. At Globexs we have 2 types of customers: expats and apartment owners. Expats come and go, but apartment owners are customers for life. Their apartments are in good hands. We control, manage and adjust when necessary.