Long Term Rental appeals to people who bought property in Spain a couple of years ago with the intention of renting their property as a holiday let. The advantages are more peace of mind with less people in and out of your property and a long period of guaranteed rental income.
Finding a holiday apartment in Spain is easy as nearly everyone has a friend or relative with property to let. On the other hand finding a long term rental can be a challenge.
So where do you look? There are lots of owners desperate to rent out their properties but they do have difficulty contacting those who are searching.
There is a service where you can list your long term rental for free at www.eyeonspain.com. It is also worth visiting if you are looking for a long term rental. If you want to "test the water" when considering retiring to Spain or just take a longer than average break then this srea is worth considering.
Initially it is wise to consider the following points.
Do you want
To rent in a Spanish or an English/international area?
To rent in a community where your neighbours are holiday lets or fellow long term tenants?
A sea view?
A property in a full sun location?
A quiet or a lively location?
to avoid construction nearby?
Shops close by?
To be able to walk to facilities?
To be close to schools?
Friends living nearby?
To be close to the airport for visitors or flying back and forth?
Leisure facilities nearby?
Parks and play areas nearby for children
Do you want
a villa, townhouse, or apartment?
a number of bedrooms?
satellite television installed?
it to be possible to work from home?
a private or communal pool?
a phone line? (Big problem on the Costa del Sol)
a terrace safe for your children?
heating? (It is very cold indoors during the winter)
The maximum length of a rental contract is usually eleven months with a renewal clause in the contract. Those with rare rental contracts over this time period have greater rights under Spanish law. During the winter low season; you will find those landlords are quite eager to rent out their property. Therefore, they will be more flexible about the length of rental contracts.
However, once the temperatures rise around Easter, they may begin to rub their hands together at the thought of a much more profitable holiday income over the summer months. Likewise, at the onset of the summer months they will rarely agree to contracts less than eleven months as they do not want an empty property over winter.
Using an agent
Finding a long term let via an agent has its advantages. They usually employ at least one bilingual member of staff which is essential as many landlords are Spanish. They can assist you with maintenance problems and put you in contact with local services such as cleaners, gardeners etc. Some will ensure that your utilities are connected to save you the headache of costly phone calls and wasted days. Always ask about their commission policy.
Agent’s usually charge a finder’s fee, equal to one month’s rent. On top of this, the owner will be charged for their services. The tenancy agreement is usually in Spanish. Make sure that you get it translated so that you understand all the terms before signing. Do not accept a translation from the agent or owner.