Pitfalls and issues when renting out property in Villamartin

In reply to 

A) Numerous posts on the Forum have stated that it is taking several months to obtain their Licence, note that it is important that the property is not rented until the Licence is obtained otherwise massive fines could be heading your way.

B) Letting Agents will usually charge an Annual Fee plus take 10% of the monthly rent.

C) Whether you are letting to friends or others you would be required to make accurate Quarterly Tax Returns, also you have to inform the Police of the names of all renters. A Management Agent should cover this for you and your Tax Advisor should be able to handle the Tax Returns. Failure to follow these legal requirements wiil again come back to bite you with massive fines.

Our license took a few weeks in 2015 but current waiting times I am told are approx 6 months.

We look after the advertising and bookings ourselves so can't comment on agents. We are UK based so use a local keyholding company here. Is there a reason why you would prefer someone else to be in control of your property?

Friends and family get discounts low season only or if we have a late cancelation - generally we are fully booked April to October plus our own use over the winter and a couple of low season rents, so our house well used. All rental income must be declared quarterly in Spain, as you are a UK resident, plus in the UK in your annual tax return. Current tax rate in Spain 19% after a few allowable expenses but post brexit expected to be 24% of gross rental.

The regulations can change with very little notice so keep an eye out for changes.

Bev

I applied for my tourist license in June 2018 using a solicitor and this has just come through this week .

Glad you have finally received it and can now advertise your property.  The licenses are taking ages now, there must be quite a back log!  Can I ask if you had the property inspected or not? - I am wondering if they are now inspecting all properties before issuing the license or just some.

It may be worth asking your solicitor to try and book an appointment with the Guardia Civil for you for when you are next visiting to make sure you can get that side of things set up on your next visit.  Have they ordered/supplied your official plaque, complaints book and complaints book sign too?  

Good luck with your bookings.

You should try property hounds they are really efficient they charge €300 management fee per year and 10% per month of gross rent.