What To Look For When Thinking Of Finding A Spanish Property Rental

There are a variety of factors which need to be considered and given thought to prior to taking a decision with regards to Spanish property rental

. Identifying the right property in Spain can be greatly rewarding as it will provide you a regular income. However do not take rash decisions when it comes to investing in property, as it could only prove to be disastrous.

There are a plethora of reasons for people to invest in Spain. First and foremost, Spain is the right travel destination, thanks to the year round sunshine and good weather. People holidaying in Spain often go in for short term holiday rental apartments, so you can be assured of a regular demand.

Property investors can therefore seriously think of investing as it will surely earn them a good steady income. You may want to rent out the holiday home to tourists during the holiday season and stay in it for the remaining part of the year. However, establish clarity on the type of property you intend investing in and the budget you have earmarked for the same.

Be prepared fully before taking a decision with regards to property investment in Spain. You may either choose to rent it out for a long term or a short term. Vivienda is the term used in Spain when a property owner rents his property for a long term. The contract period is generally for twelve months and the rent would be comparatively cheaper as it is being rented for a long period. This form of contract can be extended to five years. However, there is a restriction on the rental increment and it solely depends on the then prevailing inflation rate.

You also need to identify the right location. The rent which you would be charging depends to a great extent on the location of your property. The rent will also depend on the type of tenants you intend renting your property to.

If you want to earn rental income by renting it to tourists, then you need to look out for properties which are situated close to major amenities like bars, restaurants and supermarkets. Properties which are located close to a golf course or a beach will attract a higher premium. You can charge a high rental for this property.

If you do not want to hire the services of a letting agent, then you will have to look out for tenants all by yourself. Word of mouth publicity works best in such a scenario. Spread the word to your friends, close relatives and workmates. Referrals indeed prove to be greatly helpful. Another advantage of getting a tenant through referrals is that you do not have to get worried about the repute or the trustworthiness of the tenant. Another effective way to get tenants for your Spanish property is to advertise in the local newspapers or advertise on Spanish property rentals sites.

The next best alternative is to hire the services of a professional and reputed estate agent and let him do the job for you. You need not have to be physically present at your property as you have entrusted the job of identifying tenants to the agent. Estate tenants also perform other duties like rental collection, undertaking minor repairs in the property and so on.

by: Lawrence White

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