AIFOS INSOLVENCY PROCEEDINGS

Ruth,

We just cant understand why some people are so negative about the development ? We will be over again in June and cant wait to see our apartment finished - its well worth the wait

Thanks again for your help and advice,

Jayne & Roger

hello

We know of someone who is not far from Iznalloz and  rents a 2 bed small  detached bungalow with pool for around 250 euros a week. They live near so they do their  own changeovers. They cannot get any more as there is competiton.

 Please bear in mind it looks as if a lot of people at Balcones will try to rent. Also there is going to be a lot more apartments in the village in a year or two so stiff competiton. If you can cover the bills then relax.

Did someone say the developer was building more small apartments next to Balcones? Too many apartments in one small village in my view will be hard to rent. If we got 10 to 12 weeks  rent  in year one at 250 euros a week minus70 euros for changeover then this will cover some of the costs. They are small so not too much to clean.

We will advertise in our home town so no advertising costs. We will be over at the end of May to see some agents in Granada to see what rent would be achieved if renting out to locals full time. My bet is around 380 euros a month . Ruth, do you have any idea about this?

I would really like to know the maintenance charges for the year. If no one is living on this development it may be best going to a management company.

hi sorry not replied to private messages in last 2 weeks never new I had them ,now I can not read them waiting to activate my messages when I can activate them will replie

Hi Ruth

Re keyholding, please can you confirm where the keys will be held, ie locally to Iznalloz?

Also, will there be time restrictions to when they can be accessed?

Many thanks

Roy

Hi Roy

The keys will be held in Albolote. There will be no restiction as to when the keys can be accessed as long as there is 24hr prior notice.

Kindest Regards

Ruth

Dear Ruth Finney et al

Although I am really an interloper on the Balcones forum, as I am purchasing on the Mirador development,  I am following developments closely and  get the impression that, overall, things are progressing well.  I do have an interest in the rental issue, although that is not an integral part of my intentions re the apartment as I am hoping to spend just short of six months each year in Spain and eventually take an informed view on whether  to remove permanently to Spain in the future. I was though contemplating renting somewhere if available on the Balcones development over the winter period 2008-9 in order to get a feel for the area and to watch the later of stages of  Mirador more closely.

In that connection, I do feel that the rental yields projected are highly optimistic and unlikely to be realised for any meaningful period.  I recently rented a two bedroom/two bathroom  apartment on the coast at Calahonda for €650 per month  (minimum rental period one month) ;  this was impeccably equipped and the included service from the retailed agency was  exemplary.  Whilst considering rental, I browsed numerous websites and visited agencies and, although my rental was especially good value,  there is a plethora of rental property available and, unless potential tenants have a prior need to stay in a particular area, they can virtually name their price.

Moreover, a recent edition of Prestige, the Solbank magazine, featured an article on the realities of renting which concluded that after all deductions re management, cleaning,  taxes, etc. one would be lucky to walk away with 10% of the headline rental in  ones wallet.

Nonetheless, when Mirador is complete, I shall still be interested in any arrangements that are arrived at and thank you for your efforts.  I think it is important to form a group of potential residents to monitor developments and I think that a lot of the concerns bestride both developments.

Many thank for all your research and efforts; I'm sure that it is appreciated by other Balcones purchasers.

Best wishes to all

Graham Louden