6 things to know if you plan to rent a house or apartment for the first time.

Renting your first home can be intimidating. These tips will help you make the right choices and make your visits with confidence.

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Do not forget to do your research:

Moving into a home is a major event in life, no matter if you rent a small apartment or a large luxury villa – so it’s important to spend enough time and research to find the ideal property.

Adopting the digital age can be useful and you are almost always sure to find what you are looking for online. The Internet has a variety of property search portals that offer easy access to all the real estate listings available in the market.

Be aware of scams in the rental:

The disadvantage of the digital age and its easy access to information is the opportunity it offers fraudsters and fraudsters to generate rental scams that many tenants are victims.

Staying on your guard is essential to ensure that you are not the next target of a rental scam.

The common signs of scammers to watch for:

Not be able to see the place of interest

Agents or owners who avoid visits.

Pressure to transfer money without signing the appropriate documents

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Do not rent a property above your means:

Renting more expensive housing than you can afford is a common trap for many renters.

Moving to a new apartment can often involve many hidden costs that we sometimes forget to take into account. Keeping room for manoeuvre in your budget is essential to avoid unexpected bills and ensure you do not live beyond your means.

Beginner renters are advised to stick to a dwelling that is well within your price range to compensate for unexpected expenses, such as a huge electricity bill or a broken appliance that needs to be repaired.

Security deposits and upfront costs:

Most rentals require a deposit before moving in. The down payment is usually held by the landlord and may be used to pay for any property damage you may cause while living in the apartment.

It is advisable to take good care of your new home to ensure that your full deposit is returned when your lease ends. In addition to this, it may also be necessary to pay a full month’s rent in advance for the property.

A lease agreement

Make an inventory of the contents of the property and the damage existing before moving in may be beneficial. It is imperative to record all defects in the property, no matter how insignificant it may seem at that time.

In doing so, you will be able to protect yourself and avoid any potential claims or unwanted conflicts that may arise.

Put everything in writing:

Ensuring that a written lease is established and understanding its content is essential.

A legally binding contract that sets out each of the rights, rules and regulations that you and the landlord is required to respect while living in the lease, is a must-have requirement for both parties.

It is crucial to understand the document before signing it to ensure that there is clarity on all requirements and limitations. We have all been guilty of accepting a list of terms and conditions without the trouble of reading it – but adopting the same attitude with your lease may not be a good idea.

The small print of a lease is just as important as additional clauses that could have an impact on your portfolio and your lifestyle. These may range from late rent penalties, pet ownership policies, painting or changing the rental space, or what protocol to follow if something breaks down and needs to be repaired.

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Things to do before renting a home to a tenant

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Before renting an apartment or a house, a landlord must realize different things. Some are imposed by law, others are recommended because after it will be too late or much more difficult to go back. Here is a guide to not miss your first lease of your real estate investment with information and tips for successful first steps of lessor. So we’ll answer the question here.

1. Choose between bare or furnished rental, main residence or seasonal, etc. Most of the rentals available on the private rental market are rentals as principal residence in unfurnished. Depending on the location of your property or its size, you can study the market for seasonal rental or furnished rental. Each of these rental types has advantages and disadvantages. The tax systems are not necessarily the same, the rules of operation with the tenant either. It is better to question the first rental on this kind of element because it can be long and difficult to switch from one to the other. For example, if you rent a non furnished house year-round, you are obliged to go on a lease of 1 to 3 years. You will have to wait for the departure of your tenants to be able to offer another type of accommodation to other tenants. It can be very long. You will not be able to ask your tenant to leave to change the use of your property, except in certain specific cases (leave for sale or for personal use).

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2. Enhance the apartment or house To find a tenant more easily and especially to ask for a higher rent, you have every interest in taking the greatest care of your home. Do the necessary work to ensure that everything is in good condition, install equipment or useful storage, etc. Some elements really make the difference with other properties that are for rent in your city. By standing out, you put all the chances on your side to have a lot of requests for your rental and you will be able to place your rent in the high range of the market without it affecting the vacancy. Compared to the value of housing, do a little DIY or decoration costs very little but it can allow you to significantly increase the profitability of your investment. For those with rental housing in a geographic area where there is a lot of rental supply relative to demand, this is one of the ways to attract tenants to your home rather than to your neighbor and that without have to lower the rent too much to offer the best price / quality ratio. Home staging has the wind in its sails to sell more easily an apartment or a house by valuing it to the maximum of its potential. Even if few people talk about it, it can also have a net impact when renting. An investment in time and money that will quickly pay for itself.

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3. Find a tenant A good tenant, who pays on time, who does not pose a particular problem and with whom you can easily exchange about this rental apartment or house is the dream of every investor. The search for tenants stage is therefore crucial and decisive. As we saw in the step of looking for information on the rents currently practiced in your sector for this kind of goods, it is better not to be in the upper bracket to attract tenants easily and especially to preserve them the longest possible. To find a tenant, you can advertise real estate ads, including the main free real estate sites

 

Tips for buying your first home

Think long term and think about resale: do you plan to have children. Do you take care of elderly parents? You can consider living in your first home for only a few years. In this case, who is your target audience when it comes time to sell the house? If you are buying a house in a bad neighborhood or a house on a busy street, when you are ready to sell the house, most families with children who enjoy their tranquility will be excluded from your list of potential buyers.

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Make a list of things to check: buying a home is an emotional process. Ideally, you should put aside all your emotions when evaluating a home. But in reality, you will undoubtedly have a favourite for a home, so keep a list with the necessary criteria before making an offer to the owner.

Make an inventory of all the expenses during the inventory of the house: when setting up a budget for the house, do not stop with the monthly expenditure related to the maintenance but also the tax and insurance; add utilities, travel costs and upgrades. Call the companies that offer services that will be helpful after the purchase of the house and request a quote for the work for an assessment of your future expenses. In order to see if you can still afford to buy the house.

Make sure you read your contract before signing it: a home is probably the biggest purchase you will make in your life, so make sure you understand the terms of your contract. If you do not understand the terms, ask your notary and your real estate agent for more details. If they do not clearly explain the terms, do not go ahead and hire a new real estate agent who will defend your interests; there are enough people who will be more than happy to help and work for you

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Find out more about neighborhood demographics: if you are buying a home in a booming vicinity, it would be a good idea to know if real estate projects or projects will change the landscape in the next 5 or 10 years.

Dream escapes properties 

Contact Us for more information about buying your first property in Mauritius 

The advantages of renting a private villa with a swimming pool for your holidays in Mauritius

Spend less money, enjoy more of your vacation

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Private vacation rentals offer exceptional value for money and are one of the most cost-effective solutions for your holiday. With a private rental you can save up to 50% compared to an average stay at the hotel, plus you are free to enjoy your savings on your accommodation to invest more for activities and shopping! Ideal accommodation at an affordable price.
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A comfortable living space with the luxury and services of a large hotel
When you opt for a vacation rental you will never have to worry about being disturbed by the hotel staff and so you can enjoy your privacy completely. Since you are not limited to a single cramped hotel room, you will have plenty of space for your little moments with family and each one his room is like home except you will have the Indian Ocean as background.

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Define your own rules and schedules

With a vacation rental, you choose to enjoy your vacation, according to your desires. Unlike a package, there is no restrictive control at times, food options or schedules of visits – you adapt your itinerary to your convenience and to your family. The choice of attractions you want to visit, restaurants where you wish to dine and moments of escape to meet a new culture – you are free to leave when you wish.

To have the choice

With a wide range of properties available, you define your own accommodation list whether you want your own private swimming pool so that children can splash the family meals safely or outdoors so that you can enjoy an evening Family-friendly barbecue – the choice is yours. From luxuries like a private pool or Jacuzzi to daily comforts such as satellite TV or Internet access – we will have the perfect property to meet your needs.

Receive your friends and family

Want to enjoy a getaway where there is space for everyone? Whether you are considering a New Year’s Eve party with friends, or a family reunion in a heavenly destination – private vacation rentals offer plenty of space and privacy.

Share a family meal

Flexible catering options are one of the many benefits of a private vacation rental. You can meet your family’s wishes by creating delicious dishes, cooked with the freshest ingredients from local markets where you choose to completely escape the kitchen and enjoy the local delicacies in the best local restaurants.

More info

http://www.dreamescapes.mu/propertiesweb/properties/villa-louise/ 

Real Estate Investment – New PDS scheme Mauritius

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Foreigners have the possibility to acquire the property in full ownership in Mauritius as part of an investment project. They can acquire a residence under the Property Development Scheme (PDS), or a suite in a hotel program under the Invest Hotel Scheme (IHS)

Two schemes are offered to foreigners to invest in real estate:

The PDS (Property Development Scheme)

Since June 2015, the Mauritian government has decided to harmonize the regulation of real estate laws within a single legal framework, the PDS (Property Development Scheme), allowing both Mauritian citizens and foreign investors to fully own their property .
The PDS, the only legal framework now in force, replaces the two previous regimes: the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES). These two types of programs were distinguished mainly by the size, fittings and selling prices of the real estate project:

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The Integrated Resort Scheme (IRS)

This system allowed foreign investors (natural persons and legal entities) to acquire luxury villas or residences with high-quality infrastructures (golf courses, marinas, swimming pools, restaurants, sports complexes). The minimum investment amount was EUR 390,000. It automatically conferred residence permits

The RES (Real Estate Scheme)

The scheme was open to foreign and local investors (natural and legal persons) for small-scale (4 to 10 hectares) real estate projects with a minimum purchase price of EUR 200 000. It did not automatically confer a residence permit.

The PDS does not impose a minimum purchase price to allow the foreign investor to benefit from Mauritian tax benefits. As with the old IRS and RES schemes, the investor receives a residence permit if the amount of his investment exceeds USD 500,000.

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Only recognized real estate developers with real expertise in the trade can develop PDS real estate projects. In addition, their project must be environmentally friendly and fit seamlessly with neighboring Mauritian habitat. The ecological aspect is taken into consideration: green spaces, infrastructures favoring good ventilation, solar panels, water recovery … are necessary elements for obtaining building permits under the new PDS scheme.

More info about real estate investment in Mauritius with Dreamescapes Properties

why retire in mauritius

Retire to Mauritius Island.

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While this may sound like a great adventure, retiring overseas is not as simple as you think.

We will guide you and try as much as possible to find the ideal place for your retirement in Mauritius and to simplify the process. Whether you are looking for a resident’s permit in Mauritius or a second residence to escape winter, the information we have collected will be useful.
Why Mauritius is a destination of choice for your retirement abroad.
The tourist industry, real estate investment and textile are the pillars of a thriving and expanding economy, Mauritius is a benchmark for the African continent a clear indication of its charm individuality and hospitality. Mauritius is above all a paradisiacal destination, with sun all year round, dream beaches enjoying a stable political situation for decades.

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Mauritius is an island with a rich culture, beautiful scenery, natural attractions and recreation for your retreat on the island.

The Benefits of a Retirement in Mauritius

A stable political system, modern infrastructure and medical services and sustained economic growth serve to provide a favorable investment climate. Similarly, tax legislation in Mauritius is very low to purchasers of real estate, resulting in an increasing appreciation of the value of the property.

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Foreigners wishing to retire in Mauritius may explore options to obtain a permanent resident permit. They are also eligible for the acquisition of real estate in Mauritius under real estate programs following the IRS, RES and PDS.

Criteria for eligibility for residence permit as a non-citizen pensioner
To be eligible for a residence permit for a non-citizen on retirement, you must be 50 years of age or older and must commit to transfer to your local bank account in Mauritius at least US $ 40,000 per Year or its equivalent in any convertible currency. The total amount transferred over three years should be US $ 120,000.

Beautiful villa for sale in Albion Mauritius

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Located on the western coast of a white sandy beach, Albion is a place that is experiencing a thriving development. 10 minutes from Port Louis, Beau Bassin and only 20 minutes from Tamarin, it is strategically located and easily accessible. This project of domed villas is located at the entrance of Albion. They have a 360 degree view of the surrounding coastline and you can even see the Coin of Mire in the north of the island. Enchanting setting for the sunset, this corner breaths calm and rest away from the traffic and noise of the cities.

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20 individual villas for sale in Albion built with shotcrete, an advanced technology from elsewhere on 3.5 arpents of land.

The interior space of the villa will surprise more than a quarter the look is immediately towards this high roof with a feeling of volume in ‘loft’. The ambient temperature also contributes to the well-being of the residents, thanks to the warm air that escapes upwards and the constant ventilation that caresses the curve of the walls and goes around the house. Each villa has a built surface of 300m2 thanks to its covered veranda on the ground floor and its terrace which surrounds the house has the stage. The veranda is an extension of the living room and the view of the garden is in open angle. Swimming pool in galleries with a beach in Synthetic Deck. The garden is landscape. Automatic individual portal. Solar water heater with tank and water pump.

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Jacuzzi, generator, air conditioner etc.
Near beach 2 minutes by car
Proximity supermarket by car
Proximity pharmacy, doctor, gym, restaurant, bus stop.