Letting
your property in Spain
Whether you bought a property
in the Manilva area to let, want some income from you holiday
property whilst you're not using it, or maybe you bought off-plan
hoping to sell but couldn't, or maybe you are thinking of purchasing
a property in Spain - then here are a few points to bear in mind.
1. Do
your homework before you buy.
If you are buying to rent make sure the property is suitable.
Whilst it is not critical if you are looking for longterm tenants,
holidaymakers are far more demanding. If your property is pitched
at the family market it is better if is a short walk from shops,
restaurants, etc. A property with its own or community pool is
always easier to let, as is one with satellite TV, dvd player,
etc. Whilst it is not impossible to let a property without these
it does take more work.
2. Actively
market your property.
The first place to start is with your family, friends and workmates.
Make up an A4 sheet with details of the property, and a couple
of pictures, and distribute it to your family members, pin it
on the notice board at work, or in the pub, anywhere where people
know you. People are usually happier to rent from someone they
know, especially if they don't know the area.
3. Create
a website for your property.
The internet is now one of the first places people look to when
searching for self-catering holiday accommodation in Spain. It
doesn't have to be fancy, just informative, with plenty of pictures
and a clear map of where the property is situated and a list of
local ammenities. Once you have your website get it listed on
as many sites as you can, and exchange links with relevant sites.
If you don't know where to start with setting up a website contact
admin@manilvalife.com
for details of our webservices. You could actually qualify for
a free site!
4. Register
your property with online agencies.
There are numerous online rentals agencies who will include your
property in their portfolios. Most do not charge for this and
simply take a percentage of any bookings made through their site.
Try VillaRenters to who we are affiliated
or simply do a search on the major search engines and go with
the agencies that appear in the first page or two of results.
Don't forget most of these are booking agents and you will have
to arrange cleaners, and maintenance separately. (If you do decide
to register with villarenters.com please use the form here
as we do get a commission which helps to support Manilva Life).
5. Register
with a local agency.
Another option is to place your property with a local agency or
agencies. This will cost you more than with an online agency but
they can provide a complete service, including maintenance, cleaning
, laundry, arrange pick-ups etc.
6. How
much to charge?
If you have bought to let on a mortgage, then obviously this is
critical. Steve Waters at Andalucian
Holidays suggests this guidance:
"As a rule of thumb,
before purchasing on a mortgage, this is what I advise people.
The rental income you get from the high/ peak season should cover
your mortgage and community bills. Mid season income should cover
water, electricity, taxes and any other miscellaneous expenses.
Low season income should be the bonus. If these figures do not
work out, then walk away. Too many people have bought thinking,
or been told that, they are going to rent for 30 weeks of the
year consistently."
If you are renting your property
out for extra income, then you should check what the going rate
is for similar properties. Don't charge too little, renting your
property will mean you will probably have to decorate more frequently,
fixtures and fittings will need replacing more frequently, and
your utility bills will be that much higher, so make sure these
expenses are covered.
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