07 Jan 2008 12:00 AM:

Has anybody started, or is in the process of renting out their apartment in phase 2, eg block 7?

Are you using OVP Travel or another rental company?

I am about to purchase the furniture package from Villapac so i can start renting my property. Anything I should be wary of?

I would appreciate any advice.

Community thread: New rules imposed before first AGM

--------------------------------------

26 Sep 2007 11:32 AM:

Nigie,

Thats my dilemma.

If I wait for a year, I have to rely on OVP, the developer, Quality Surveys stepping up to their responsibilities ........which hasn't happened yet.

Have you heard anymore about the supposed Disney development??

 

Community thread: New rentals website. 6 months free (not an advert Justin)

--------------------------------------

25 Sep 2007 9:47 AM:

Thanks for all your advice.

Okeycokey2000 -yes I have completed. I caved in to the threats from OVP and the developer who said they were in a position to financially penalise me if I didn't complete.

Nigie - Are you in phase 2? My apartment is.

Long term rent is a possibility, but the communal areas in phase 2 are filthy and are no where ready for renting. Even OVP admit that it could be another year before they will be able to start renting out apartments in phase 2. That's alot of mortgage payments. Furthermore I really don't fancy going through all the extreme hassle I have been going through with OVP, Quality Surveys etc with a furniture package company (see comments from jimhadenough). I find it strange that despite all the bad reports I have read about Villapack, they are recommended by this web site. Maybe they are the best of a bad bunch.

Regarding the Disney development, no one at OVP in Duquesa knows anything and there doesn't seem to be any new news on the internet. Does anyone have any firmer info on whether its going to happen or not?

I fear selling up is my only viable option. Can anyone recommend a good estate agent? What are Spanish tax liabiliites when selling a property?

Many thanks

 

 

Community thread: New rentals website. 6 months free (not an advert Justin)

--------------------------------------

23 Sep 2007 9:39 PM:

I think I had the same letter.

So much for the old cliche, "cradle to the grave service".

Whilst I understand that post completion we, as the legal owners, have the main responsibilities, OVP must realise that us owners have ended up with a property that is not as it was sold to us.

I don't know about the rest of you, but I was told that the development would take 18 months to build and would be ready to rent out immediately after and I would be recouping the mortgage payments well before now.

Not so in reality.

I might as well rip-up all the financial projections presented to me by OVP. Instaead of being an investment, it ihas turned into a financial nightmare that I can't see a way out of.

Do I -

a) sell at a loss (even if I can) and hand over even more tax to the Spanish authorities or

b) persevere with the whole debarkle, get a furniture package and air con organised and try and rent it out to cover my monthly outgoings.

Option b sounds attractive in theory, but I still can't get my snagging works finished so what hope have I got of getting the apartment (or the communal areas) in a fit state to rent out within the next year?.

If any one can come up with a viable option c) I would love to know about it so as to avert financial disaster.

 

 

 

Community thread: New rentals website. 6 months free (not an advert Justin)

--------------------------------------