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Long Term Rentals

Considering letting your property on a long term rental agreement?

Both property owners and prospective buyers can take advantage of the long term rental option on the Costa del Sol. This option offers peace of mind, knowing that fewer people will be moving in and out of your property.

It also means that you will have a guaranteed rental income for a long period. In the past, many people that bought off plan in Spain, intending to rent their property as a holiday let are now seriously considering the long term rental market. You could be someone who has bought off plan and your property is under construction or you just want to visit Spain and test the water before you purchase your Spanish dream holiday home.

Once you start researching you will be overwhelmed with choice in the Spanish market. The first thing you need to decide is what you really want. Think about how long you are planning to live there, if you are buying an off plan Spanish property then delays on developments can occur. It is possible that you may need to rent for a longer period of time than originally anticipated.

Below is a list of frequently asked questions. Use this as a simple check list when deciding whether a property meets your individual requirements. Whilst this is not an exhaustive list, it does provide you with a basis to start your long term rental search in Spain.

 

Location, Location, Location

  • Do you want to live in a predominately British, Spanish or International area?
  • Do you want to live in a community where your neighbours are holiday letting / long term tenants?
  • Would you like to have a sea view?
  • Does the sun set over the property?
  • What is the level of noise?
  • Are there any constructions nearby?
  • Is it close to work and/or shops?
  • Can you walk to the closest facilities?
  • If you have children, is it close to a suitable school?
  • Do you have friends living near by?
  • Are there leisure facilities close by?
  • Are there parks or play areas for children?
  • How far away is the Airport?
     

Individual Requirements:

  • Are you looking for an Apartment, Villa or Town House?
  • How many bedrooms?
  • Do you require outdoor space?
  • Can you keep pets?
  • Do you want a Swimming pool? Private or Communal?
  • Is there a satellite television installed?
  • Would it be possible to work from home?
  • Is there ample storage space?
  • Is there a phone line? (Connection can be a problem on Costa
    del Sol)
  • Is there adequate car parking?
  • Is the terrace safe for children to play on?
  • Is there air conditioning?
  • Is there heating?
  • Are there security measures?
     

Rental Periods

In Spain rental contracts usually last for a maximum of 11 months with a renewal clause in the contract. People with 'rare rental contracts' over this time period have greater rights under Spanish law.  On the Costa del Sol during the winter season, you may find landlords are quite keen to rent out their property, therefore they will be far more flexible about the length of your rental agreement. This depends upon the individual landlord.

When weather conditions improve, which is usually around Easter time in Spain, most landlords will be trying to make much more profit over the coming summer months. Likewise the rental agreement will rarely be less than 11 months, as they do not want to lose income during the Spanish winter. The length of the contract is negotiable and some landlords are more accommodating than others.
 

Agents

You may find it an advantage to find a long term let via an agent. Agencies usually have at least one bilingual employee as many of the landlords are actually Spanish. An agency can assist you with property maintenance and put you in touch with local services such as cleaners, pool maintenance and gardeners etc.

You may find some agencies will ensure that your utilities are connected. Make sure you check out the agency's commission policy before signing up with them, as this can vary from agency to agency.

You will also find that the majority of agencies charge a finders fee, which is usually equal to 1 months rent. Additionally, the owner will also be charged for their services. The tenancy agreement will normally be written in Spanish, so it's vitally important that you understand every detail of the contract.

We highly recommend that you use an impartial translator to do this for you, and ideally the translator should be fluent in both English & Spanish. Ensure you take all necessary steps to protect your rights.
 

 

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UK Office: Buy Spain, Pum-erw-Road, Cardiff, South Wales
Tel: 02920 256 096
 

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