spain

we are having a ponder about renting our house out here (going back to UK in December) as we havent had a sniff of a viewing (which we half expected) and just wondered if anyone is doing it ? any advice or pitfalls other than dodgy tenants who leave without paying the bills

trying to weigh up whether to just leave it empty or get some tenants in til the market picks up

we are lucky not to have a mortgage on it so any rental would be additional income which is always handy

hmmmm decisions decisions.....

montgomail

I dont see a problem with locking up and leaving it, unless you have a garden or bits that need taking care of. We have never had any problems leaving our apartment empty for months on end, even through the winter.

I would only consider putting a tenant in, if it was someone I could trust and I had someone to manage it locally. I have heard good and bad stories about tenants, as Im sure you have too. Not sure what I would do in your situation, as it could be long term waiting for a sale. I guess it depends on how much you could get for renting.

spain

yeah heard some bad stories too - dont have a garden so thats not an issue

we do have someone locally who could "check up" on the tenants and deal with any issues with regards to the house and like you say it could be long term til we sell so i was just thinking we might as well earn a bit frm it rather than it sitting empty but at the same time do we want strangers in here potentially wrecking the place .....

ohh I really dont know

jdr

Be very careful on the rental, tenants can stay for up to five years if you do not get the agreement worded right.

spain

Sarleon

Woooo... Not all tenants are into squaters rights these days!

montgomail

It is tempting to put a tenant in - but dont take any chances. Why dont you put word out that it is available for rent and just let it if you get someone suitable. Or even promote it as a holiday let from the UK - getting your local contact to do the changeovers?

My friend rented her apartment to a bloke that did a runner - never paid any rent. I think she wasnt too careful in getting money up front, so ended up out of pocket. She then let to a German girl who was the perfect tenant.

I know it can work but I would be wary of the five year rental situation that JDR mentioned. If you get a Spanish "single" tenant in, who later moves in a family, you'll have no chance of getting them out.

Good luck, whatever you decide.

poshnbucks

Have a look at these tips it can be a rather involved process if it goes wrong.



http://www.spainlawyer.com/guialegal...ITULO=04060000

lynnxa

I reckon holiday lets might be the way to go

friends of ours have 2 houses - one they live in in Javea & another 'off the beaten track' that they use weekends/hols

in the summer they move out of the Javea one completely & let it to holiday makers - in the 3 months they pretty much make enough to pay the mortgage on the other one for the year

with no mortgage you'd be quids in

spain

well after a lot of discussion we have decide we will rent, so thanks everyone for your input and will have a good look at that site poshnbucks - we have someone local who can keep an eye on things and take care of any problems that might occur, that should help a bit - so fingers crossed all goes well

spain

had a few agents suggest "rent to buy" scheme, anyone done or doing this ? seems a good way to find your feet and settle in before commiting to buy

fionamw

I hope someone answers this - I've been told it's gaining ground & a friend was considering it as a business venture but couldn't quite work out how!

lynnxa

we nearly bought a place on a 'rent to buy'

luckily there was a get out clause for us, because after we had rented it for a few months, there was no way we wanted to buy it


was also lucky for the owner, as he lost his job (in Germany or Holland - I can't remember) at about the same time, and had to come back to live in spain

billgates

I know this is a really wacky and way-out idea, but have you considered actually dropping the price?

Maybe the reason you're not getting any interest in a sale is because potential purchasers just don't think your house is worth what you're actually asking for. When it comes down to it, any house is only "worth" what someone is prepared to pay.

03630

It is curious. People accept price swings in every other market, but the British in particular have this strange view that a house must be worth what they ask and not what they are offered. IMO the faster we get back to the simple notion that a house is a place to enjoy your 3 score and 10, the better.

Let's face it, at 1000 euros the average house would have a queue of prospective buyers, at 1,000,000 Euros no interest. Somewhere between those two extremes lies the price that a buyer can afford.