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Letting Your Property

Some people buy their ideal retirement home and live in their property whilst others purchase their second home in the sun and wish to keep it solely for periodic use by themselves or their friends. However, the majority of buyers wish to visit their property when it is convenient to them and for the rest of the time wish to obtain an income through letting it to tourists. Indeed, this could be essential if they have taken a mortgage and require help to finance loan repayments.

Letting your property is not as straightforward as it may first appear and there are many things to consider. From a legal point of view the property must first be registered with the Ministry of Tourism and tax declarations have to be made to the Hacienda (Spanish Inland Revenue). There are very high penalties for letting your property if it is not registered for Tourism. Please note that properties on a residential complex ("Complejo Residencial") cannot be let legally.

But how do you find people wishing to rent your property? Who will clean the property after they leave? Who will do the laundry? Who will replace a broken plate or fix a leaking tap or blocked toilet?

To help you with the letting of your apartment you should first solicit the help of a professionally run letting agency who will take care of the legal side of things and promote your property for letting with tour operators and travel agents.

Secondly, you should solicit the help of a reliable property management company who will take care of the practical side of things and ensure that everything runs smoothly.

Rental returns from your property can be very substantial and it is essential that it is done legally and is professionally managed. That way you can enjoy the benefits and sleep at night.

We can advise you further in this respect and introduce you to suitable letting and management companies.