Rental property questions (by a Canadian)

I periodically scroll through the posts here and they're so great!  (I've posted once or twice with questions too.) What a valuable site!  Thank you, in advance, for the time all the members take in answering questions and just the general chitchat!

My mother owns an apt in Albufeira.  Currently, it's used only as a vacation home but, as my mother ages and, given the current COVID restrictions, I see the apartment being used less and less.

I'd like to explore the possibility of using it as a rental property.  I realize that there likely is no demand now but looking at the possibility for the future.

I'm thinking the best thing to do will be to use a rental agency.  I will come here for recommendations but, at this point, I can wait on that...  So, aside from the services that a rental agency would deal with (clients, cleaning, etc.), I'd love to hear any advice.  If there are any Canadians here, I'd love to hear on issues specific to a Canadian owning rental property in Portugal. 

The apartment is just north of Oura strip, still within walking distance to the beach.

At this point, I'm not even sure what to ask but some questions are:

What is happening in that area?  I believe there is some development but has it been put on hold due to Covid?  What are you opinions as to the future prospects for that area of Albufeira?

Does anyone else here have rental properties?  Do you find it easy to rent (aside from Covid times)?  Do you generate a profit or do you find it more just covers all your costs and provides you with a 'free/ vacation home?

Do you use a rental agency to find clients or a rental site like AirBnb?  Or both?  Who do you normally rent to?  Families?  Singles?  Seniors?  

Do you have much luck renting the winter or is it pretty much just seasonal?

Any other info/advice would be appreciated...  

So looking forward to my next trip there!  Am really missing it!  

Unfortunately, I speak limited Portuguese but would be lost beyond basic conversation.  My concern is as you mentioned - many and difficult rules, etc.  I wonder if it's worth the effort to rent??  Our apt is not in a resort (it is above stores), so I fear even more difficult to rent without pool/gym amenities.  Would certainly still like to hear experiences from others who have rental properties.

Our property is on the same street as Oura strip but it is north of the main east/west road (the road with the worm roundabout).  Years ago, I recall that portion of the street being full of restaurants, shops, etc., certainly not as busy as south of that east/west road but quite busy nonetheless.  However, over the last few years, I've seen that area become emptier and emptier.  Lots of closed up shops and restaurants.  I know they have redeveloped the hotel at the top of the street (shame it was allowed to be an all-inclusive!) but, sadly, I haven't seen the street recover by much.

I haven't been there in a couple of years; hoping a visit in 2021 will be possible.  In the meantime, I console myself with the webcams!  LOL

I'll keep an eye out for any more replies to this thread...  again, appreciate the input from members.

there is a major plan to upgrade the whole Montochoro area ... 

  ... also at the Camara site where there was an item on the wee parque ..

and Trip Advisor handles around 2500 rentals .. you can set dates and numbers to find what people are asking all year ..

https://www.tripadvisor.co.uk/VacationRentals-g189112-Reviews-Albufeira_Faro_District_Algarve-Vacation_Rentals.html