Intercom system

Hi

Looking for some advice here. We are due to complete on a property just outside La Linea (very close to Gibraltar) either late this year or early next.

Problem is, the punitive exchange rate, changed personal circumstances and the ever increasing cost of mortgages means that we may struggle to pay even an interest only mortgage, covering the remaining 80% balance on our property.

So, I was thinking of long term letting, especially targeting people who work in Gibraltar, but who cannot afford to live there.

What's the best way of going about this ?. Ideally, I would like to do this through a reputable Management Company who could set everything up and deal with any tennant issues locally as we are non-resident. I accept that this would mean that they would take a cut of the income, but something regular, without much hassel would be better than nothing.

Anyone know what the chances are and what income I could realistically expect to achieve ? Also, what the typical cut that the management company are likely to take ?

The property is a top/2nd floor appartment with 4 double bedrooms (approx 130 m2 + 10m2 terrace)

Any suggestions of reputable Management Companies would be great, then I can do some further digging with them.

Thanks

I have spoken with two different rental companies in Gibralter, both just off the main street, and they seem to be on the ball. I was considering buying in Alcaidesa and they could see no problems in dealing with the property from Gibralter.

In the end I did not buy, but anyway, the companies were, Richardsons and Bray Properties. I am sure you could track them down on google.

good luck

David / Justin,

Thanks for your replies..... I'll get busy chasing these up

John