Information for apartment owners in Valencia

Renting to expats in Valencia with Globexs, how does it work?

This page is written for apartment owners in Valencia and explains how the expat-rental business works. The purpose of this page is to give all necessary information to the owner so that he can decide whether renting his apartment to expats is a good option.

What are expat-rentals?

Furnished apartments

More and more apartment owners in the larger European cities are moving away from traditional rentals and are opting for renting to expats. 

In Valencia 3 types of rentals coexist: Traditional long term unfurnished rentals, mid-term (3-11 months) furnished rentals and short term holiday rentals. The holiday (airbnb) market is clearly saturated in a lot of cities, causes troubles with the neighbours and is very labor-intensive.

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). So that is why expat-rentals are becoming increasingly popular.

Click here to read about the advantages of renting to expats.

Indeed, if properly managed by a professional company like Globexs, expat-rentals offer huge advantages to apartment owners.

The principles of expat rentals

The services provides by Globexs

Commercial

Globexs is a company which main activity is the provision of suitable accommodation for expatriates and their families. We publish the owner’s apartment on globexs.com and offer the apartment to our expat-customers. Globexs finds the right expat (tenant) for the right apartment. 

Financial

The rental price that the owner wishes to receive is determined in consultation with Globexs, and may vary for each rental, depending on the duration of the rental. The owner bears the costs of the utilities, such as electricity, gas, water, television, property taxes, etc. In the case of energy costs, costs over 100€/month will be deducted from the tenant’s security deposit. 

During the rental period Globexs collects the rent on behalf of the owner. The monthly rent is transferred to the owner either on the 5th of on the 20th of the month.

The rental contracts are always accompanied by a deposit, paid by the tenant to Globexs. The amount of the deposit is negotiated between Globexs and owner, but is usually the value of 1 month’s rent. Globexs collects and manages the deposit until the end of the rental. (see Deposit management)

Contracts

Globexs takes care of all the paperwork. With the owner Globexs signs an intermediation contract, and with the expat (tenant) Globexs signs a rental contract on behalf of the owner. The actual rental contract is an agreement between the expat (tenant) and the owner. Ask your Globexs agent for a sample of both contracts.

Property management

Globexs takes care of the check-in and check-out process, the cleaning, linen change, and basic maintenace tasks. (See Globexs Property Management chapter)

Problem solving

Globexs is the contact person during the complete stay of the tenant. In case of problems both the owner and the expat (tenant) contact their Globexs agent who will try to solve the problem by appropriate intermediation.

How does Globexs make money?

team_globexs

The Globexs fees are paid by the tenant

For its services Globexs charges to the expat (tenant) a commission, an administration fee, and/or an agency fee. These fees are variable and depends on the duration of the booking. They are charged on top of the rental price that Globexs has agreed with the owner, and will be invoiced to and paid by the tenant. 

Publication fee

The publication of the property on globexs.com is subject to a 1-time administration fee of €150 + VAT to be paid by the owner. 

The obligations of the owner

The owner must ensure that the rented house is sufficiently furnished and equipped with sufficient household goods for the number of people for whom the house is intended. All appliances must be in good condition and work perfectly. There must be a refrigerator with sufficient space for the number of people for whom the house is intended. Beds must be in good condition and clean (including mattresses and bedlinen). The property must be delivered impeccably, completely clean and in good condition as well as free of personal belongings. Cleaning products, shampoo and toilet paper are provided.

The owner must ensure that utilities (electricity and/or gas, water), wifi and television distribution are connected and operational throughout the rental period, and to consider as priority all necessary repairs and improvements, and to replace all furniture or appliances damaged as a result of normal use.

Alternatively, the OWNER can contract the services of GLOBEXS to manage all the preparations for the first rental. GLOBEXS will charge 35€ + VAT per hour for all property management actions. Invoices from professional third parties or purchase of materials, goods or furniture will be charged separately without adding any extra by Globexs. Many items can be purchased in the Globexs webshop.

Globexs property management

Concierge

Cleaning

Maintenance

Deposit management

Globexs collects the deposit and keeps it until the departure of the expat (tenant). The owner checks the apartment and communicates damages to Globexs within 5 working days after checkout. If the owner considers that (part of) the deposit should be retained Globexs opens a deposit report. 

Reasons for non-refund of the deposit

The owner can decide to retain the deposit (partly of completely) in the following cases:

The liability of Globexs

Other things to know

Do you want to rent your apartment to expats?

Have you decided that expat-rental is a suitable option for your apartment?

The next steps

  1. You fill out the form, or send an email to info@globexs.com.
  2. You will be contacted within 48 hours by the Globexs headoffice, of by the Globexs agent in your area.
  3. We schedule a meeting with you at the apartment.
  4. We take pictures and a video.
  5. We sign the intermediation contract.
  6. We publish your apartment on globexs.com.
  7. As soon as we have an expat (tenant) interested in your apartment we call you.

Do not hesitate to contact us if you need further information,