Renting to expats with Globexs, how does it work?
Globexs is a company whose main activity is the provision of several services to expatriates and/or the companies which they work for, as well as the provision of suitable accommodation for expatriates. Globexs has a website through which owners can make their homes temporarily available to expatriates.
Globexs never rent apartments for tourism purposes. The minimum stay is 1 month. The apartments are only intended for use as temporary housing accommodation. The tenants are not permitted to make it their principal or main place of residence. It is not permitted to exercise any trade or craft in the property, nor any other profession. (unless permitted by the owner)
The owners of the apartments that Globexs offers to its customers have authorized Globexs to negotiate the price and the conditions of the rental with the tenants and to sign the rental contract on their behalf. However, the owners of the apartments have the final word and need to approve Globexs the conditions of every rental before Globexs can sign the rental contract on their behalf.
Every rental contract is a legal agreement between the owner of the apartment and the tenant. Globexs acts as an intermediate defending the interests of the owner and the tenant.
The main principles of expat rentals
- The traditional tenant stays between 1-11 months
- The tenant cannot register at the address, unless the owner agrees to this
- The apartment is fully furnished (including bath and bed linen)
- All the expenses are included in the price
- The contracts have flexible cancellation terms
- We work with extendable monthly contracts
Advantages of monthly rentals
Secure Payments
You have a minimum risk of payment problems.
High rental income
Expat rentals are more profitable than traditional rentals.
Full control
The owner stays in control of his apartment.
The services provided by Globexs
Commercial
Globexs is a company whose main activity is the provision of suitable accommodation for expatriates and their families. We publish the owner’s apartment on our website and offer the apartment to our expat customers. Globexs finds the right tenant for the right apartment. On this page, you can find all information for apartment owners.
- Globexs does not require exclusivity. The owner has the right to publish the property through other sources.
- Globexs does not guarantee a minimum occupancy rate, but our average occupancy rate is 10,5 months/year.
- The average stay of a tenant is between 5-6months.
- Sometimes the rent is paid by a company. In this case, the owner has to pay more taxes than with traditional rental. Globexs recommends the owners to consult a financial advisor.
- Every trimester Globexs can provide an income statement to the owner on request.
- The price for an expat rental is usually 30-40% higher than the rental price for a traditional long-term rental.
Contracts
Globexs takes care of all the paperwork. With the owner Globexs signs a (non-exclusivity) intermediation contract with the 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. There is no exclusivity between Globexs and the owner, so the owner has the right to use other channels to promote his apartment.
Ask your Globexs agent for a sample of both contracts.
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.
Monthly payment:
The monthly payment consists of the rent + expenses. The rental price shown on this website is the minimum price. Depending on the length of the stay the price can vary. For very short rentals (1-2 months), in the high season, the price will be higher than shown on this website.
Besides the rent, the owner bears the expenses.
What is included in the expenses?
- Energy costs: With the maximum of €150 for an apartment or €250 for a house are included in all the energy costs unless another amount is agreed on between the owner and Globexs. This amount should be clearly stated in the questionnaire and if the tenant exceeds this amount the owners should prove this by sending us an invoice to statements every 3 months by mail. All invoices after this period can no longer be taken into consideration. If the tenant exceeds the amount agreed upon in the rental contract, the difference will be deducted from the tenant’s security deposit. Only energy costs can be demanded as extra.
- Wifi and TV: Wifi and TV connection are included in the expenses.
- Water
- Other expenses: included in the expenses are the community costs, taxes,…
Who pays the owner?
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 or the 20th of each month. In case the tenant is late with the payment there can be a delay of 1 extra week.
In case the tenant does not pay for 1 month the next month the contract is not renewed and we use the money from the deposit to cover the lost month.
This is a huge advantage in short term short-term renting and the opposite of traditional renting where it can take up to months to collect late payments and you can not just throw out your tenants.
The rental contracts are always accompanied by a deposit, paid by the tenant to Globexs. The amount of the deposit is usually the value of 1 month’s rent. (more info in deposit management).
Deposit management
Globexs collects the deposit and keeps it until the departure of the 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 or completely) in the following cases:
- The apartment is left behind dirty
- There are damages to the property
- The tenant did not respect the house rules
- The energy consumption is over the limit
Problem solving
When a tenant is found the owner will receive a contact person either from the company who is renting or the tenant himself at the check-in.
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.
The obligations of the owner
Equipment of the property
- The house must be sufficiently furnished and equipped with 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.
- Indispensable: Fast wifi, a good-size TV, oven/microwave, toaster, kettle and washing machine.
- Optional but highly recommended: Dishwasher, dryer, coffee machine.
- Beds must be in good condition and clean (including mattresses and bedlinen).
- Cleaning products, shampoo and toilet paper are provided.
- The property must be delivered impeccably, completely clean and in good condition as well as free of personal belongings.
Obligations during the rental
- The owner is responsible for check-in and handing over the keys
- The owner must ensure that utilities (electricity and/or gas, water), wifi and television distribution are connected and operational throughout the rental period.
- The owner is obliged to consider as priority all necessary repairs and improvements, and to replace all furniture or appliances damaged as a result of normal use.
- The owner is responsible for managing the cleaning after the rental period, as well as the washing of the bedlinen and bath linen.
- The owner is responsible for the check-out process and the control of the apartment after check-out.
Use of the Globexs apartments
The Globexs apartments are only intended for use as temporary housing accommodation. The tenant is not permitted to make it his/her principal or main place of residence unless specific permission is given in writing.
The tenant shall immediately notify Globexs by registered letter if his/her principal or main place of residence changes.
It is not permitted to exercise any trade or craft in the property, nor any other profession.
The property cannot entirely or partly be sublet or made available to third parties, nor can the rent be transferred to third parties.
If the tenant fails to meet the obligations stated above about the intended use of the property, the owner will consider this as a serious shortcoming, which entitles the owner to invoke the automatic dissolution of the agreement without prior notice and to charge the sum of a full month’s rent as a penalty to the tenant. Moreover, in that case, the owner is also entitled to claim damages, such as material damage and taxes to which the owner would be bound by the mere fact that the property is rented for a professional purpose or if the property is used as a principal or main place of residence.
The liability of Globexs
Globexs is not responsible for the safety of the property, nor for damages suffered by the tenant when using the property and everything in it. It is the sole responsibility of the owner to hold insurance that covers at least the damage caused by fire or theft, as well as civil liability arising from the acts or omissions of users of the home.
Globexs can not give any advice concerning insurance, please contact your bank or insurance agent to see what are the possibilities.
Globexs during the rental period will collect the rent in name and on behalf of the owner to the tenant, but Globexs cannot be held liable in any way if the tenant has not paid the rent – temporarily or permanently.
Globexs does not give legal advice concerning taxes, please ask your accountant or financial advisor for all questions concerning taxes.
House rules for the Globexs apartment tenant
The following house rules apply to all Globexs apartments (except when overruled by the rental contract):
The tenant must be aware that the property is a genuine residence surrounded by neighbors and the rules of the Homeowner’s Association have to be respected. The working norms of the proprietor’s committee for the building, in which the accommodation is located, are to be respected, as well as the proper use of the common elements and fittings of the building. Annoying, unhealthy, harmful, risky, illegal activities are forbidden. The tenant may not disturb the peace and dwelling in the building and must refrain from activities that may disturb the peace of residents or neighbors.
The tenant must respect the neighbors by keeping noise levels down, not just in the rented property but also in the stairwells. The noise has to be kept down to a minimum between the hours of 21:00 and 10:00.
No parties are allowed to be held on the property.
Smoking is strictly prohibited in the apartment and the building. A penalty of 500€ will be charged in case the tenant smokes in the apartment.
During the stay, the tenant must depose the rubbish as indicated by the owner or by a Globexs staff member on check-in.
Always fully lock the main door of the rented property using the key, when going out. When a set of keys is lost a penalty of 250€ will be charged, on top of the cost of making a new copy.
An effort has been made to prepare the rented property for the tenant to ensure that the tenant feels as relaxed and comfortable as possible during the stay. The tenant is obliged to treat the rented property with care so that it is left at the end of the rental just as he/she found it at the beginning.
On check-out, the apartment needs to be left CLEAN. The dishes need to be done, the trash needs to be removed from the apartment, the fridge needs to be emptied, etc. In case the apartment is left behind dirty a cleaning fee can be charged.
In case one of the above house rules is not respected, this will be considered a serious error, which entitles the owner to immediately terminate the rental agreement, without notice, in which case the tenant is obliged to pay to the owner an indemnity of the amount of a full month’s rent for this error (in addition to other eventual costs for indemnification of damages that would be caused to the property by the tenant).
How does Globexs make money?
The Globexs fees are paid by the tenant
For its services, Globexs charges the expat (tenant) a commission, an administration fee, and/or an agency fee. These fees are variable and depend 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
At Globexs we offer different packs.
The standard pack includes a free use of the Globexs platform.
The Premium pack costs €99/year.
The superior pack costs €99/year.
Ask a Globexs agent for more information regarding these packs.
We always charge a 2% service fee for every booked month. This fee will be deducted automatically from the monthly rent.
Good to know
- Your Globexs agent: + 34 686 690 047
- Globexs head office: +34 962 066 814
- Globexs administration, accounting: + 34 608 487 134
- Contactperson: During the full stay the tenants have a contact number and a contact person dedicated to their case.
- Contracts: All legal documents (reservation, lease contract, etc.) were drawn up by a reputated lawyers’ office to provide the best contractual security.
- Guarantee and security: Tenants are sure they rent an apartment that complies with the legal and ethical standards.
- Intermediation: In case of problems or disputes the company Globexs intermediates with the owner.
- Customer service: We attend to you in English, Spanish, Valencian, French, and Dutch.
- Payment facilities: We offer the possibility to pay in cash, bank transfer, credit card, or PayPal.
Advantages of Globexs
Personal attention and advice
At Globexs you are in direct contact with our agents. This allows us to help you quickly and personally.
Global visibility
Globexs operates internationally and is the industry reference for medium term rental.
Rental contract management
We work with our own contracts, drawn up by our legal department. Therefore, you do not need to worry about this.
No exclusivity
Globexs does not ask for exclusivity. You can still rent out your property via other platforms.
No visits
We have photos and videos of each property, so you don’t have to show anyone around. Should this be a requirement, the visits will be arranged by a Globexs agent
Set your own rules
Anyone renting through Globexs agrees to basic house rules. However, if you have a special request we will always pass this on to the tenants.