Quote:
Originally Posted by distant dreamer
Hi
I own in El Gouna and know several people that rent their properties out. In El Gouna there is a choice of several management companies, from decent size ones to "one man bands". All charge differently - generally around 25% I think. Some have good websites, some don't have any. Interestingly some people have never had British people stay in their apartments, mainly wealthy Egyptians, Italians, Gernans etc. People have quoted between 50 and 70% occupancy rates. One friend now has got James Villas involved and I understand that has been quite successful. Other people advertise themselves on various lettings sites with varying degrees of success. Some people want to know whose renting their apartments, others are happy to do nothing, let the management company sort everything out from picking up at the airport, arranging repairs and filling the fridge. Just depends on how much involvement you want. I'm sure there will be many management companies springing up in the Hurghada area, but the key to getting a decent rental return is buying in a prime location. Hence my preference to buy in places like El Gouna and Sahl Hasheesh.
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Thanks you for your post DistantDreamer,
Another positive comment about El Gouna and agree with your Location, Location, Location comment.
I also agree that unless some quality independent, European standard, management companies open in Hurghada I think landlords will have problems. I certainly don't want that 3am call to say the fridge isn't working or the washing machine is leaking!
Keep the thoughts coming.
Kind regards
Organics1