Short Term Rentals

This is just a quick guide to help fellow owners that rent out short term.

If you take your calendar mark out your high seasons, mid seasons weeks and your low seasons it’s a good start.

This at least gives you a plan of action or a strategy for POSSIBLE rentals.

In the ideal world it gets rented out all year round, but even if this is the case (and that’s very doubtful) getting the turn around factor right can be a logistical nightmare.

Especially if you are trying to organize it from overseas.

It can work but it can also go wrong and when it does EVERY body loses out, the Guests, the Owners, The Cleaners, key holders etc

Ultimately the Guest is or should be your main concern because although money matters how can a family holiday ever be compensated fully?

Holidays are vital to every body’s welfare and most families save up all year for it, so it’s always special.

So beware of thinking that you can make a great return from continual short term rentals, it’s tiring, time consuming and not as easy as you may have been told.

I would say the worst tales told from sellers, mostly the big companies, but also from the smaller ones as well is that all you need to do is buy a place, register it at 2 or 3 agents and that will pay for your mortgage payments that you have taken out. Or if you are lucky enough to buy it cash great but again the return you have been promised from the rentals is just not going to happen.

I speak from experience, My first experience was being taken to Resort Properties by a roundabout near La Zenia, now unless they have changed I can not recommend them as I paid 500 euros for them to hold my keys do so called regular checks and ultimately get me clients. NOT ONE CLIENT in 12 MONTHS, but they did take my euros! Now I went with them because they were supposed to be set up for golfers, I have a place on a golf course so it seemed an obvious choice, but like I have said not one enquiry. I will stay away from agents asking for key holding money now because in my mind its easy money to take from a client and return the client with nothing.

Just think 100 sets of keys at 500 euros a time in one year will return them 50,000 not bad!  This is exactly what happened to me I promise you, so please do not get caught out. So because of false promises, lack of genuine agents for me any way I had no luck on the rental side. Album was another agent that offered empty promises, another 12 months and nothing, they finally went bust.

I am not tarring all agents with the same brush I am however pointing out that you can never be 100% sure unless you do it your self.

That’s what I ended up doing and I strongly advise any one starting out to do the same.

Yes it’s handing back the responsibilities to yourself but at least you are in control. It’s so easy to fall into the trap of thinking “well it will be ok, its there business so they know more than I do, so they will do what they say, they will get me business” Wrong! They MIGHT but they might NOT. Take control yourself by hanging a nice big quality looking board out side your place with your telephone number on it.

Once you have first contact you can then keep tracks on what’s going on, but remember to get their tel number before the end of the enquiry otherwise you may of lost them forever, so be warned.

Appoint a trusted person/ agent/ friend to hold your keys and do the business etc.

But please take heed of just doing what I and others have done.

Spain is great, the properties are great, the life is great and can hold all your dreams but if you get it wrong you can slip up big time.

My place is now for sale on this great site after just 4 years. It is currently priced at 50,000 euros less than the recommended price last year, so it’s quite a bargain.

If you want to look at it for a long term let or if you want to buy it then look at this link: http://www.eyeonspain.com/Property-for-sale-details.aspx?ref=SP462

Well I hope this helps many new buyers or owners that are thinking about rentals. Good Luck, take care and know that you are never alone. (Until it’s your round) LOL

Best Regards

Brian 755

Hi Brian

Thanks for the info there. How you doing with the sale? Changed the piccies yet like the house doctor told you chicken?

No clients in 12 months? I would have sacked them after 6 weeks.

I would like to ask a question to anyone who does rent out their properties. What health and safety procedures have to be in force and additional insurance?

Hi Candyfloss - depends on your area, but no health and safetly so far but I always advised my owners to ensure you have third party liability insurance - it doesnt cost an awful lot and if someone trips over a rug and bangs their head, if they sue you (and they probably will) then you are covered.

Sally - I know a good agent in that area - let me know if you want their details - got a calahonda beachside if I recall!

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