DebsyW

Hi everyone. After 2 years and 70-odd threads I havent read every one. I dont want to appear lazy or stupid (but will probably end up looking both) but advice needed if possilble.

We are thinking of buying a property that is habitable and just needs tidying up and a bit of comestic work to have as a permanent home. Seen lots of estate agents websites with townhouses for sale under 50,000 euros. Weve read enough to to know to get a spanish lawyer etc and to check that the building is structurally sound before going ahead. We then would like to buy another property, maybe a bit cheaper and more run down to do up and then rent it out to locals (or to anyone staying for a length of time) on a long-term let. Is this feasible or is it a pipe dream? Ive gathered that the property market is on a go-slow but is it the same for rentals?

twyntub

Hmm. There are several properties around here that are advertised at around that kind of price. I even went to see one... the agent said it 'only needed a bit of work'. Didn't tell me it had no actual roof, or floors, or much in the way of walls either.

You couldn't even keep chickens in it because they'd just get out of the cracks in the external walls

DebsyW

Yes thats our worry. Ive looked on more websites than I can count... Kyero being one which seems to be a popular one on this forum. A few of them have internal photos and some of properties are still being lived in. We want to do as much research via the internet as we can and then fly out and view a few towns and villages before doing yet more research on the internet. Just wanted a `feel for things` from `them that know` before we do anything. Thanks Twyntub

Mitzyboy

I've got to say, if you can find a good habitable property for under €50k then I'd be fairly suprised, unless it was at the top of a mountain with no utilities, no road etc etc etc

jdr

Have you been watching those silly tv shows ?
You will struggle to find anything habitable under more like a 100.000 €`s now.

DebsyW

No, I havent watched any tv shows. What I have done is trawled through lots of estate agents websites. I havent been looking at property on the coast though, Ive been looking more inland about 2 or 3 hours drive to the coast. Ive been looking at terraced townhouses for sale. Will this make a difference? I will certainly be more on my guard with what you are all saying.

Mitzyboy

When we started looking, that was our first move. We actually looked in estate agents windows, and when we went in to enquire we were told "oh no, that ones sold, but we do have these" . The "these" were more expensive of course, and after a while we realised that most of the stuff in the windows had been there for years!

Inland will of course be cheaper than coastal, but you can't tell in what state the places are from the web sites. Have you actually tried emailing one to ask if its still for sale?

gallerie9

Well people had been living in our house, but there was no way we could have even ruffed it. and we are just a couple, no kids.
The rooms were damp, the plumbing horrendous, and the electrics well they were just unreal an accident waiting to happen.
I remember looking at some houses, we looked at one that was restored MMMM we would have still gutted it and started from scratch.
You do need to view these properties first and the areas they are in, some look great in pictures and then when you see them, well they are a lot to be desired.
A nice three bed rental where we live is anything up to 400 euros a month plus water, gas and elec, the other bills are paid by the owner.

Palmera

I have heard many horror stories of peole who have places they have let out on long-term let. After 6 months, the tenants have rights. I dont know the full ins and outs but i would certainly look into this carefully. We bought a 2nd house to let out at one time, but decided on the one or 2 week holiday lets option.
Good luck in whatever you decide.

jdr

It`s not even 6 months, if the contract doesn`t say short term holiday let, then the tenent can stay for up to five years.
The only way a landlord can avoid this is if he can prove he needs it for his own residence.

madcarole

is this why some landlords do an 11month rental period?

carole

Mitzyboy

I thought the laws on this had changed now

jdr

This is what the solicitor wrote in the SUR.

QUESTION
I have been living in a rented accommodation for almost a year. I originally signed a one year contract with the owner which expires in the next couple of months and I would like to continue renting this same apartment. Could you please tell me what my rights are?

ANSWER
The Urban Rentals Law of 1994 provides that the parties to a rental agreement may freely agree upon the terms concerning the duration of the contract.
According to this legislation, if the parties agree that the term of the rental agreement is for a period of less than five years, as seems to be your case, upon the date of expiry of the contract, it will be automatically renewed for successive one-year periods for a minimum of five years, unless the tenant notifies the landlord of his intention not to renew the contract within a period of thirty days prior to the expiry of the contract.

Jeanie27

The advice you have been given is good - whatever you do, shop around first and do a lot of homework. We bought a house at a good price about 4 years ago and, although a Spanish family had been living in it, it wasn't really what I would have called habitable. It was, however, structurally very sound. We renovated it and it it is now on the market with several different agents, the majority of whom shove it on their websites and do nothing else.

The point is, the vendor states what price they want and then the agents add on their commission. In our case it varies from 1 agent asking 6000 euros right up to another asking a whopping 23000 euros. That has only served to push us out of the market as the house, lovely though it is, is nowhere near what they are asking for it. Ironically, the only agent who has put himself out is the one charging the lowest commission. In the end, we have decided to market it ourselves for the price we want without the agents fees.

As I said, shop around. You might get a bargain. Just because a house is on the cheaper side it doesn't always mean that there is too much wrong with it. Often it just means that a greedy agent hasn't grabbed it first. However, at the 'bargain end' do be prepared to do a lot of work. We have been into houses being sold as liveable that would have been condemned if they were in the UK.
Good luck

madcarole

no idea if the laws have changed...
but have been told and seen adverts for 11 month rentals..perhaps it is because the owners want to use for for family and friends in the summer?? christmas..or whenever

Carole