How to rent a property in Mauritius?
When investing in real estate, there are many ways to make it a profitable investment, and one of them is to rent it out. In Mauritius, the rental property market is booming. Whether for houses, apartments or studios, the demand for long term rentals is there. They can come from Mauritians, expatriates or students. To properly rent out your property in Mauritius, it is important to know the market and be well accompanied.
The importance of the geographical location of the property
Although properties that are located outside urban areas are sought after for calm and serenity, there is also a strong demand for cities and towns. Indeed, while retirees prefer tranquility, most requests come from tenants looking for more interaction, entertainment, proximity to businesses, and their workplace. As a result, the demands of young people and single people are turning more towards the cities. In general, those looking for small apartments or studios prefer to search for those with affordable rent.
Most of these young people are students from neighbouring countries, such as Seychelles, Madagascar or African countries. Since they do not have large budgets, they turn to low-budget rentals. They often look at rental-sharing options and when they do, they look in the regions of Ebène, Réduit, Saint-Pierre, Rose-Hill, Quatre-Bornes, but also the Flic en Flac area with the development of the educational hub initiated by Medine in the West.
Furnished accommodation or not
There are many more furnished than unfurnished homes on the rental market. The reason is simple: The unfurnished housing is less in demand, and is mainly by locals. Some expatriates do move over with their furniture, but it is more seldom. When they do, they bring their furniture but not any appliances, and they are therefore not interested in homes even semi-furnished at the risk of cluttering their living spaces. However, it is important to know that in Mauritius, an unfurnished rental has certain legal constraints when the need arises to terminate the lease agreement and when you want a tenant to leave your property. So be sure to be well advised by a professional agency before renting out, as they will advise you properly in order to better protect yourself.
On the other hand, furnished homes attract more expatriates, as this eliminates the constraints and costs of bringing over their furniture from their country of origin. Those who come for a fixed-term job can thus find benefits in fully furnished real estate. The budgets of houses and apartments for rent vary, depending on the market, seasonality, location, services available, and other property criteria.
It is important to know that a furnished apartment must contain all that is essential. In principle, tenants will only need to come in with their personal belongings. So be sure to supply all the necessary furniture and appliances, linen, as well as kitchen utensils, cutlery, plates and more. Remember to take a full inventory beforehand, and insert this information in the rental agreement. Using the services of a real estate agency will save you time, the stress and inconveniences of these administrative but very important steps, since it will provide this essential service.
Commercial spaces and offices
Office spaces were once nearly only found in Port-Louis, but in recent years, Ebène, Moka, Quatre Bornes, and now other regions such as in the North or around the airport, have seen the development of buildings for office and commercial rental. As a result, there is now a much more diversified rental offer, with new and older buildings, fully equipped or sometimes just "shell & core". It is also possible to rent a house as office space. The only criteria to observe would be: good internet access and enough parking space.
The rental price of commercial & office spaces will depend on location, access, condition and size.
If you do not live in Mauritius, or are a non-resident, it can be difficult for you to rent out your property here without being in the country to manage it. To help you out, you have the opportunity to put your property in a rental management scheme. That is to say, you will mandate a real estate agency in Mauritius, which proposes a Property Management Service to manage your rental and your property, for a fee.
This property management service provider will have a management mandate that will allow it to perform certain actions on your behalf. This includes : to prepare the lease, revise the rent every year, do the works that fall under the responsibility of the landlord and all associated services. The manager will also take care of rent collection, and hand over receipts of such to the tenant.