As a landlord in Gibraltar it is best to produce an inventory of all furnishings and fixtured and fittings, photos work best and can never disputed. Also make sure the write the make and model of any electrical appliances for ease of refence.
The rental property in Gibraltar needs to be fully furnished as most people are transit client and here for maybe one or two years therefore do not have any furniture or many belongings. We suggest bedding as well as towels and a fully functioning kitchen with plates cups etc.
Tax is applicable to landlords and is payable on profit made, so when submitting tax return please make sure you correctly inform the ta office of all outgoings as well as rent received.
We always recommend you take out contents insurance for your rental property, there are many companies in Gibraltar who offer this insurance and it can start from as little as £70.00 per year.
Gibraltar has at least four banks that will lend to purchase property whether for investment as a buy to let or as a family home, Nat West International, The Gibraltar bank, Trusted Novas and Turicum Bank.
As a renter you will normally have to pay a deposit of one or two months deposit depending on the landlord. You will receive an inventory which clearly states everything in the apartment.
Your rent will be payable in advance on the day the contract starts and thereafter.
It is not necessary to have insurance as mostly the flats are fully furnished her and the insurance is down to the landlord. If however, you do have anything of high value it may be best to take out a separate policy.
You will not need a lawyer in this instance.