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Is it worth buying a property to rent in Playa Flamenca

Posted: Sat Nov 2, 2019 6:28pm
10 replies412 views9 members subscribed
Nanddgreen2

Posts: 24

Location: Orihuela Costa

6 helpful posts

Dear all

Please could we ask for your valuable advice.  We are hoping to move to Spain next year and have had our quad house for 2 years.  We have a dilemma as we would like to keep ourselves busy and have some income and are considering investing in the quad next door that has just come up for sale.   It would be a great property to invest in (it needs a little cosmetic work but nothing too much) but we are aware that there are a lot of properties to rent in the area already so wonder if the market is already flooded with available properties and we would end up having it empty with no income.  We understand that it takes up to a year to get registered but any advice would be gratefully received.

Many thanks for your help.

Denise and Nick

jimtaylor

jimtaylor

Legendary helpful member

Sun Nov 3, 2019 4:11am

Posts: 4251

Location: Mudamiento

5805 helpful posts

Posted: Sun Nov 3, 2019 4:11am

First read the guides on the subject:

Davebev1's guides: Renting out your property as a holiday let in Spain

Then ask the town hall if they would approve it as a tourist let.

Youhoo

Sun Nov 3, 2019 9:33am

Posts: 74

Location: Orihuela Costa

34 helpful posts

Posted: Sun Nov 3, 2019 9:33am

Obviously start with Jims or unless you have a legal let nearby,plus your urbanisation rules,otherwise you should be ok rents seem to vary quite a bit but once up and running it,ll keep you busy through summer months if on the letting sites some in winter,good luck

RayD

RayD

Legendary helpful member

Sun Nov 3, 2019 11:58am

Posts: 3503

Location: Catral

2507 helpful posts

Posted: Sun Nov 3, 2019 11:58am

Although there may be a lot of properties for holiday lets in the area, the chances are a lot of them are illegal and operating without holiday let licences.

It will certainly be worthwhile having a word with the ayuntamiento to see what the likelihood is of you obtaining a certificate of compatibility, especially if you are in a residential rather than a tourist area.

Then follow Davebev1's guides as in the post above.

julietony

Sun Nov 3, 2019 12:07pm

Posts: 62

Location: Algorfa

24 helpful posts

Posted: Sun Nov 3, 2019 12:07pm

I think there may soon be a shortage of licenced rental properties, many people are stuck in the system waiting to be approved, some will not be granted a licence, and many people who were renting before the new laws have decided its not worth the effort.  Plus agencies have been obliged to remove properties from their sites that dont hold a licence, making it harder, I would have thought, for people to find properties to rent.  

If you are willing to see the process through and get approved you may find you have plenty of takers, as some  people will always want apartments over hotels.  Plus as you will be right next door it will be easy for you to manage and you wont have the expense of a management company.

Good Luck!       

Karol1112

Karol1112

Helpful member

Sun Nov 3, 2019 4:11pm

Posts: 189

Location: Torrevieja

60 helpful posts

Posted: Sun Nov 3, 2019 4:11pm

Hi, take a look on other holiday rental sites ie Holliday lettings , homeaway etc and see how booked up they are for a similar property in your area , that should give you some idea ūüĎć

RayD

RayD

Legendary helpful member

Sun Nov 3, 2019 4:24pm

Posts: 3503

Location: Catral

2507 helpful posts

Posted: Sun Nov 3, 2019 4:24pm

Karol1112 wrote on Sun Nov 3, 2019 4:11pm:

Hi, take a look on other holiday rental sites ie Holliday lettings , homeaway etc and see how booked up they are for a similar property in your area , that should give you some idea ūüĎć

But only look at the ones that show a holiday let licence number.

The others aren't licenced.

Karol1112

Karol1112

Helpful member

Sun Nov 3, 2019 6:10pm

Posts: 189

Location: Torrevieja

60 helpful posts

Posted: Sun Nov 3, 2019 6:10pm

Hi RayD, most companies do not show holiday rentals now without a tourist license , and it was only for the purpose of seeing how much in demand were properties in that area .

RayD

RayD

Legendary helpful member

Sun Nov 3, 2019 8:46pm

Posts: 3503

Location: Catral

2507 helpful posts

Posted: Sun Nov 3, 2019 8:46pm

There was a lady on here a couple of weeks back who had booked a holiday apartment on an advertising website and was panicking because the contact wasn't answering her calls. It transpired that, not only did the website not include tourist licence numbers, there wasn't even a formal contract with a licence number on it.

So, not all websites are complying.

Bencr85

Bencr85

Helpful member

Mon Nov 4, 2019 7:54am

Posts: 75

Location: Villamartin

79 helpful posts

Posted: Mon Nov 4, 2019 7:54am

Hi

We applied October 2018 and haven't got by stage  one certificate of capability,  we've complained, but got no reply , perhaps we need to do back hander but to who !  Those that have managed to get holiday let licence,  have found it very difficult to rent out, are the Spanish killing it off  , the buy to let's, , the brits are starting to sell up or not visiting at all , so be careful!

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