To Let Or Not To Let?
Monday, April 11, 2011 @ 6:51 PM
That really is the question if you have a second home here on the Costa Calida. Offering your home for rent can be a profitable and straightforward process, but there are a few things thta you need to bear in mind before taking the plunge! Here are a few things to consider:
- If you have your property up for sale, please let the rental agent know! Whilst renting can generate a good source of income, you do need to consider the “availability” of the property. If your goal is to sell, then accepting bookings from holidaymakers too far in advance could spell disaster.
- Long or short term lets? Short term holiday lets can generate a better weekly rate, especially in the summer season. But a good long term tenant will provide a steady income and the home will be occupied and maintained throughout the year.
- Pets welcome? If you allow pets, then you can greatly increase the chances of letting the home, as many long term renters have acquired at least one waif and stray if they have been in Spain for any length of time. You can specify “pets allowed by prior arrangement” and then use your discretion as to what you feel is suitable for your particular property.
- Make the house rules clear to potential renters. If you do not allow smoking inside the property, then say so. Make sure that both parties know what is expected of them before entering into any agreements.
- Don´t be afraid to ask a good rental agent for advice. Allowing other people to use your holiday home, and your investment, is a big step. Make sure that you understand exactly what is required of you as the owner of the property and landlord. And here´s hoping that you can generate a little extra income in 2011!
Hasta pronto,
Liz