Rental income potential

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Roda Golf And Beach Resort forum threads
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04 Dec 2022 12:42 AM by Micha2022 Star rating. 1 forum posts Send private message

Hi, we are considering buying apartment at Roda Golf with the view of renting while we are not using it. For those that operate that model can you please share day rate and occupancy that you're able to achieve? 
 

has anyone managed to do it successfully? 
 

many thanks! 




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08 Dec 2022 4:42 PM by windtalker Star rating. 1902 forum posts Send private message

The only way to make a rental property work  for you is to find your own  renter's and manage the property yourself doing things like the cleaning and general maintenance after your renter's have left the property to keep down the overall costs...you also need  a Tourist licence  and liability insurance you will need to register yourself as a business  and engage a accountant  to pay you tax on the income in reality you are only looking at a maximum rental of 12 weeks per year...so don't  buy a property  on a mortgage hoping the renter's are going to pay for your mortgage / council  tax /yearly site fees have a look at the Roda Golf Bank Repossessions on the net before you commit to buying. 

 


 


 


 


 


 


 


 


This message was last edited by windtalker on 12/11/2022.


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10 Dec 2022 6:14 PM by MikeandHelen Star rating. 192 forum posts Send private message

Are you an EU Resident or a UK REsident?

The issue is what costs do you expect to cover? Community and other fees vary between communities, especially with the cost of pools, garages, lifts and gardens on the apartment blocks.

Summer rentals can be good - August Spanish holiday are busy and hot. Off peak rentals can be very low and with the visits limited to 3 months from the UK over-wintering is not as popular.

Non EU residents have top pay a 24% tax on gross rental income, EU residents pay 19% on net after expenses, which is a significant difference.

Any rental income should be thought as a contribution to costs, not a profit. 




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