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Hi my villa in albir is coming up for completion in the next few weeks and im looking for insurance for contents and buildings, im also looking for a pool management company to look after the villa & pool when we are back in the uk .
Thanks in advance
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Thank you for your reply , we do plan on renting for a year before we move over for good , the paperwork for the touristic licence as only just been started far away from been completed , do you advise i should just get normal insurance on the property first then change it when its ready to rent ? Also am i right in thinking the insurance should be in place before the completion date of the villa .
Jo x
Posted: Thu Sep 3, 2020 10:53am
Legendary helpful member
If you are UK based then Schofields do a specialist insurance policy for holiday homes which you can arrange to be in place from the day you complete the purchase. They also offer a specialist policy for holiday homes that are rented out. Liberty Seguros are also very helpful for insurance (as already suggested) but check the level of cover for Public Liability for holiday let guests as it tends to be lower with Spanish policies. But even if you have holiday let insurance it would be invalid if you were letting without a Tourist License as you would be letting illegally.
I have no idea how long Albir Town Hall take to issue Compatibility Certificates; some Town Halls do so within a few weeks, some take 18+ months and some refuse to take applications. Others will only issue for certain areas of town or certain communities. Best option is speak to someone in your Town Hall when you are there. If you haven't got the Certificate you cannot apply for a Tourist License.
Once you have the Tourist License you can register with the Guardia Civil and start advertising.
However, if you are looking to move over in a year, so only looking at less than one full season of letting, I doubt the cost of setting up, insuring, advertising, keyholding, tax (for a UK resident it will be 24% of the gross rental from 1st January) and various sundry costs would leave you with much in the way of profit. It's a lot of work and additional expense just for one season and you cannot even advertise until you get the License. It may take you all the time between now and when you move over to obtain the License!
Sorry, but you cannot just start using a property for holiday letting without following the licensing requirements. The fines are huge if you are caught, so please don't risk it.
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