To find property for rent by owner in Milan, Italy (often abbreviated as FRBO), a combination of online platforms, local resources, and direct word-of-mouth can be used.
Milan is located in northern Italy, within the Lombardy region, and is known as the Italy’s economic and fashion capital, as well as easily reachable by rail and air to from European cities and across the globe to North America and Asia.
Why buy or invest in luxury real estate in Milan can be linked to Milan having the Italian Stock Exchange and the headquarters of major banks, multinational corporations, and design firms
With a stable economic base it ensures long-term demand for high-end properties in Milan.
Websites that are set-up for FRBO, allow filtering for owner-listed rentals, and when searching be sure about what you want such as location, budget, and the type of housing.
Never wire money or send deposits before seeing the property, and ask for a lease and verify ownership if possible by using local property tax records.
Buying a property or house that is then set up as a "for rent by owner" (FRBO), is usually one that is intended to be rented out without the assistance of a property manager.
When a suitable property has been found evaluate the property as an investment, and ask for current rental rates and payment history, maintenance records, property expenses such as taxes, insurance and utilities costs.
You can work directly with the owner or hire a real estate attorney or buyer's agent to help draft an offer, but before making an offer perform due diligence such as hiring a licensed home inspector and ensure there are no liens.
If considering buying an investment property that is currently a rental, there is the option to contact the manager or proprietor of a Milan, Italy property for rent by owner, and then use a title company or closing attorney to handle the purchase process.
If looking at Italy as an overseas or foreign investor or buyer into Italian real estate, those who typically invest or purchase at €250,000 which varies according to the area chosen, can obtain Italian residency through the Golden Visa Program, making Italy an attractive gateway to the EU.
Italy offers both stability and opportunity to buyers and investors, as tourism to Italy brings in over 30 million visitors across the mainland and the Italian Isles.
Real Estate Agents and Property Developers in Milan, Italy
