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Old Oct 6th 2017, 1:12 pm   #1
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Default Should I Rent or Sell?

I am in a dilemma. I've been renting my villa in Costa Blanca to holidaymakers and now someone said if I don't register I could get fined €20000 approx!

Looking at the regulations it looks a real hassle and at least €1000 in costs to get registered.

I'm wondering if it is worth the aggro and my rental income in pretty poor (always lots of costs eating up the income).

My options - long-term rental - consistent income - maybe the same as my short-term let income as there are always gaps - and think this avoids the hassle of registering?

Sell. Don't know how the market is right now but maybe reinvest money into UK where I live. Perhaps keep renting until I can sell, not sure how long that may take. My villa is nice with sea views in Javea.

What would you do?
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Old Oct 6th 2017, 1:31 pm   #2
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Smile Re: Should I Rent or Sell?

Quote:
Originally Posted by GCM View Post
I am in a dilemma. I've been renting my villa in Costa Blanca to holidaymakers and now someone said if I don't register I could get fined €20000 approx!

Looking at the regulations it looks a real hassle and at least €1000 in costs to get registered.

I'm wondering if it is worth the aggro and my rental income in pretty poor (always lots of costs eating up the income).

My options - long-term rental - consistent income - maybe the same as my short-term let income as there are always gaps - and think this avoids the hassle of registering?

Sell. Don't know how the market is right now but maybe reinvest money into UK where I live. Perhaps keep renting until I can sell, not sure how long that may take. My villa is nice with sea views in Javea.

What would you do?
Yes it is worth registering and should not be the figure you quote. Not sure where you got that from but most of the legal requirements are for both your and the tenants safety. Check again. Its very straightforward and only takes one form to your local town hall.
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Old Oct 6th 2017, 2:26 pm   #3
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Default Re: Should I Rent or Sell?

Sell while the exchange rate is favourable.
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Old Oct 6th 2017, 3:28 pm   #4
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Default Re: Should I Rent or Sell?

Quote:
Originally Posted by GCM View Post
I am in a dilemma. I've been renting my villa in Costa Blanca to holidaymakers and now someone said if I don't register I could get fined €20000 approx!

Looking at the regulations it looks a real hassle and at least €1000 in costs to get registered.

I'm wondering if it is worth the aggro and my rental income in pretty poor (always lots of costs eating up the income).

My options - long-term rental - consistent income - maybe the same as my short-term let income as there are always gaps - and think this avoids the hassle of registering?

Sell. Don't know how the market is right now but maybe reinvest money into UK where I live. Perhaps keep renting until I can sell, not sure how long that may take. My villa is nice with sea views in Javea.

What would you do?
Yes short term rental is now a complex legislative hassle and inspite of attractive figures for the rent the bottom line is rarely that brilliant.
Long term rental, I believe, is a different story, at the moment the demand certainly in the Costa del Sol is high ( people uncertain about situation, weak sterling but still wanting to enjoy the region etc etc ). Gives a consistent income and with good tenants - stable family with children at a school nearby is a good profile or a couple with employment in the region .
There is a requirement to complete and file a quarterly tax return but also there are deductions such as local taxes, community fees, maintenance expenses etc.

Cannot comment on the demand for property sales where you are.
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Old Oct 7th 2017, 1:41 pm   #5
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Default Re: Should I Rent or Sell?

The problem with renting if you are now back in the UK is you have to declare your rental income if it is above (from memory) £6000, and any amount if you get child benefits. Now they swap bank information country to country, there is less chance to hide. I suspect, if you are not making a great deal from it, and you can, sell!
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Old Oct 7th 2017, 2:22 pm   #6
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Default Re: Should I Rent or Sell?

I would sell
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