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Renting to expats with Globexs, how does it work?

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

What are expat-rentals?

What are expat-rentals

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

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.

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 provided 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. On this page you can find all information for apartment owners.

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 exceed 100€/month (apartment) or 250€/month (house) the difference 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 or on the 20th of each 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 keeps the deposit until the end of the rental. (see Deposit management)

Under certain circumstances the owner can enjoy a 1-time linen fee (between 75-150€) on check-out.

Contracts

Globexs takes care of all the paperwork. With the owner Globexs signs an (non-exclusivity) 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. 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.

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 99€, to be paid by the owner.

The obligations of the owner

Renting your apartments to expats comes with a serie of obligations:

Equipment of the property

Obligations during the rental

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. 

check-out

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 publish your apartment on globexs.com.
  6. As soon as we have an expat (tenant) interested in your apartment we call you and discuss the conditions.
Rent your apartment to expats