Interesting suggestions to make money out of your Umbrian property
I’ve bought a property in Central Italy: how do I make money?
I made my choice: I have found the right property in Umbria where to relocate after retirement, but it is away! What I can do in the meantime? I don’t want to rent the house, because I wish I could retake possession of it at any time. What are the alternatives?
What can I do to earn income from my property in Umbria keeping it active?
The alternatives are many, and they are often convenient for foreigners, because of tax breaks.
Two solution to get money from your property in Umbria
First of all, I could make a bed and breakfast out of it, to be run by an Umbrian company on my behalf: the activity is not very expensive and I can lead it privately, as long as I possess a maximum of 3 rooms to rent offering a seasonal service, or at least occasionally. Obviously with this solution I will not be entitled to any relief (in the case where, for example, I should renovate the rooms before putting them on the market), because I work privately, without acquiring a VAT number, and this does not allow me access to tax breaks.
Another solution, always on the theme “travel”, is the one of Guest House. To perform this task, that will be ongoing throughout the year, you must acquire a VAT number. To date, in the beautiful Umbria guest house that are most successful are the ones that also make available a room where you can cook your meals with your own hands, saving.
Among other things, becoming landlords you will have the opportunity to take advantage of tax breaks, with competition announcements that finance the new business accommodation with a contribution of 50% grant and 50% at a subsidized rate, subsidizing the costs to be incurred for equipment and furniture, for the refurbishment of the rooms and for the general management.
There would then be the way of the farm, which is however more difficult to deal with, both bureaucratic and economically. Are there other solutions?
Other two solutions for your property
Well, our property in Umbria could become a beautiful social farm. So…. what is a social farm? The “social farm” is an economically and financially sustainable productive activity that takes place in an integrated manner with the offer of cultural, educational, welfare, training and employment services for the benefit of vulnerable people, in cooperation with public institutions and the vast world of the third sector. Due to its characteristics the social farm is really flexible and versatile and can bring great satisfaction from the point of view of purely human and spiritual, not only economic.
Another solution – only if you are willing to transfer you and you have some culinary talent – is to open a restaurant where you will propose to your countrymen the dishes of the place, offering at the same time to the local the cuisine of your place of origin, perhaps creating a few dishes incorporating the products of Umbria in your dishes.
There would be many other suggestions, and making money owning a country house in Umbria is really just a matter of imagination: the surrounding area, the architectural beauty, artistic and historical treasures will do the rest!