I have a small but perfectly formed apartment to rent. It is in a very pretty seaside town in the centre of the Costa Brava. Until now, it has been let on a long-term basis, but following a disastrous tenant family, I have decided to let it only to holidaymakers for short term stays, so this is new to me.
I realise that letting it this way involves a considerable amount of extra work for me – or for those who do not live nearby their properties, for a managing agent. I have just spent the weekend carefully writing an advertisement to put on line with one of the holiday rental sites. The advert needs to be catchy but accurate and then there is the question of rates, how much to charge for each season or part thereof. Do you only want to let for a week at a time, or also for weekends? There is a good market these days for short-break lets, but of course, they demand even more work for changeovers, cleaning, etc. I have decided to offer stays of a minimum of 3 nights, except in July and August, when the minimum stay is one week.
Unlike with long-term lets, you need to provide plenty of bed linen, towels, dishcloths and kitchen towels. The kitchen should be fully equipped even though most people on holiday tend to go out to restaurants or take picnics. These days, travellers demand high standards and rightly so, but this puts an extra burden onto the property owner to ensure that everything is in excellent order and functioning. Fortunately, I am generally on hand to oversee all this, but most of you will need to employ someone to do this for you and, as with everything that one does from a distance, it is vital to find a reliable managing agent/cleaning agency. In my area, there are several English people who take care of properties throughout the year, or just in the summer season. Some require an annual payment - say of 500€ - to look after everything for the owner, others charge per visit to the property and for call outs. They will arrange for the pool to be maintained, the grass to be mowed, the house to be cleaned, repairs to be made and even, in some cases, for taxis to meet guests at airports or stations. One of my friends runs his own taxi service as well as a property management business and is also a licensed estate agent! It is extremely hard work, requiring long hours and good management skills, but financially rewarding.
The previous Catalan government was about to bring in a law requiring property owners to obtain a licence from the local town hall (ajuntament) to let their property, but following last year's elections, the new regime has not, it appears, followed this up, at least for now.
I suppose one of the main questions you must ask yourself is “do I want strangers in my (2nd) home?” If you can live with that, there is a reasonable income to be gained, though you must declare this to whichever tax authority you are registered with either in the UK or in Spain. There are expenses which can be offset against tax, such as repairs and maintenance. Most owners' incomes fall below the VAT threshold, but those with multiple properties are often classed as “businesses” and so must be registered as such.
I have a few more “tweaks” to do at my apartment before the first visitors arrive, just to make it feel more like a home, less like a hotel. In fact, it was my home originally, and so I have always looked upon it as such and I hope that the various people who stay there from now on will enjoy it as much as I did and treat it with respect.
Sally
The Overseas Guides Company
http://www.Spainbuyingguide.com
No comments:
Post a Comment