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Is it worth buying a property to rent in Playa Flamenca

Posted: Sat Nov 2, 2019 6:28pm
7 replies511 views8 members subscribed
Nanddgreen2

Posts: 25

7 helpful points

Location: Orihuela Costa

Joined: 3 Sep 2017

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

Posted: Sun Nov 3, 2019 4:11am

jimtaylor

Legendary helpful member

Posts: 5612

8738 helpful points

Location: Mudamiento

Joined: 2 Feb 2017

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

Posted: Sun Nov 3, 2019 9:33am

Youhoo

Helpful member

Posts: 279

136 helpful points

Location: Orihuela Costa

Joined: 23 Jun 2018

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

julietony

Posted: Sun Nov 3, 2019 12:07pm

julietony

Helpful member

Posts: 290

146 helpful points

Location: Algorfa

Joined: 30 Mar 2018

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!       

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Karol1112

Posted: Sun Nov 3, 2019 4:11pm

Karol1112

Helpful member

Posts: 207

84 helpful points

Location: Torrevieja

Joined: 3 Apr 2018

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 👍

Karol1112

Posted: Sun Nov 3, 2019 6:10pm

Karol1112

Helpful member

Posts: 207

84 helpful points

Location: Torrevieja

Joined: 3 Apr 2018

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 .

Bencr85

Posted: Mon Nov 4, 2019 7:54am

Bencr85

Helpful member

Posts: 300

269 helpful points

Location: Villamartin

Joined: 30 Jul 2018

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!

Nanddgreen2

Posted: Mon Nov 4, 2019 8:02pm

Nanddgreen2

Original Poster

Posts: 25

7 helpful points

Location: Orihuela Costa

Joined: 3 Sep 2017

Posted: Mon Nov 4, 2019 8:02pm

Thank you very much for all your advice.  After reading through the links that you kindly sent and all the other responses we have decided not to go ahead with the purchase and will concentrate on getting ourselves and the pets moved over to our house first.  So glad that we asked the question as we were so keen to purchase the property and were worried that someone else might make an offer that we were about to make the offer ourselves and  put down a deposit! So although we are somewhat disappointed feel that we have made the right decision at least for now.  I

Best wishes to you all.

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