Information for apartment owners Canary Islands

Renting with Globexs, how does it work?

Globexs is a company specialized in expat-rentals: Flexible, temporary rentals for expats, companies, remote workers and digital nomads for periods between 1-11 months. This page is written for apartment owners on the Canary Islands and explains the advantages of renting with Globexs, and how it works.

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 and remote workers. 

In Spain 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

Fuerteventura remote working

Why expat rentals are so interesting in Canary Islands

Since the start of the pandemia more and more employers are allowing their staff to work online from home, or from… wherever. The lead to the creation of a new profile of young professionals: Remote workers, also called digital nomads, or professional expats.

The Canary Islands are strongly positioning themselves as one of the preferred destinations for remote workers and expats. Especially on Tenerife, Gran Canaria and Fuerteventura the community of remote workers is growing. Las Palmas de Gran Canaria is actually the most popular destination in the Canary Islands for remote workers, but also the expat communities in the beach villages of El Cotillo, Lajares and Corralejo in Northern Fuerteventura are growing fastly. Most remote workers on the Canary Islands come from the UK, Germany and Scandinavia.

Renting your apartment to remote workers is a good idea, because they usually value local businesses and professionals, and will treat your apartment respectfully. In general, remote workers are highly qualified young professionals, usually without family obligations, and with an entrepreneurial spirit and an open mind. 

The services provides by Globexs

Commercial

Globexs is a company which main activity is the provision of suitable accommodation for expats, companies and remote workers. 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 (may vary depending on the destination) 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.

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 Canary Islands 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

Equipment of the property

Obligations during the rental

Fuerteventura remote working

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:

Partner properties

Apartment owners in Canary Islands can also choose to collaborate with Globexs as a partner. Globexs partners manage their own bookings. Globexs is not involved in the contract and the payments. The role of Globexs is limited to generating leads in exchange for a commission. Becoming a Globexs partner might be a good option for: 

Holiday makers, B&B's, aparthotels and owners of shared apartments / colivings can choose to become a Globexs partner.

What is the difference between a Globexs property and a partner property?

Globexs properties are housing facilities of which the booking process is managed by Globexs. Partner properties are housing facilities that are fully managed by a third party, a Globexs partner. In other words: A booking in a Globexs property is managed by Globexs. A booking in a partner apartment is managed by the Globexs partner.

Other things to know

Do you want to rent to expats and remote workers?

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 we call you.