Letting property
Many people buy property in Galle with the intention of letting it out. This is particularly common with houses suitable for holiday lets, which has the advantage of allowing the owner to use it as a holiday home at the same time. There are a number of villa rental agents that specialise in this business.
Holiday lettings
There are some problems you need to be aware of.
- Running costs can be quite high: you are expected to provide a house fully staffed.
- How much damage will occur is unpredictable.
- If you let the house through a middleman, you need to find a way of verifying that you are receiving all the rents your should: how do you ensure that you know of every booking?
Despite the problems, it can be very lucrative if you have a suitable property.
Residential lettings
Sri Lankan law favours tenants, and it can be very difficult to get a house back from a recalcitrant tenant. Avoiding this problem is a major advantage of holiday lettings rather than residential lettings.
In general it is unlikely that someone who needs to read this site should be letting out residential property.