Over the past 5 years, the long term rental market on the Costa del Sol has grown immensely. Hundreds of families have moved here looking for a better quality of life, or to try before they buy, and the slow-down in property sales has left the long-term rentals market with a year round demand for quality accommodation.
Interestingly though, there is a lack of good quality, well priced, long-term rental properties in the most popular areas such as Marbella, Fuengirola and Estepona. Many home owners are tempted by the income from holiday rentals which is the most suitable option for some, but this is mostly seasonal so if you don’t want to have your property sitting empty, long term rentals is a great option.
Contracts usually start from six months and can be as long as two years, providing you with a steady stream of income every month. This doesn’t mean you can’t come on holiday while you have tenants in though! In fact, many of our homeowners who were only using their property for a few weeks of the year now look forward to renting a separate holiday home so you never have to miss out on your summer break!
The tenant would pay you a fixed rate over an agreed period of time, plus all the utility bills during their stay. A safety deposit would also be taken at the beginning of the contact for your peace of mind. The change in rental laws in Spain last year also make things easier for landlords if they need their property back!
HomeRentalontheWeb has taken care of hundreds of properties and tenants on behalf of homeowners in Spain. From finding tenants, managing contracts and sourcing references to dealing with any problems that occur or maintenance work, we have it covered! Read our blog for more things to consider when renting your property long term, or feel free to call us on (0034) 952 839 595.
The Costa del Sol still remains a year round destination loved by thousands and many home owners rent out their property to holiday makers as a way of earning extra income. However, this time of year the demand for holiday rental homes is less and hundreds of properties will be left empty until next summer.
If you are a property owner on the Costa del Sol, have you thought about renting out your property long term? Some home owners are put off by long term rentals after hearing horror stories about landlords not being able to evict tenants etc but the Spanish rental law has changed this year so owners need not worry about this. In Spain, long term rental contracts typically start from 6 months, which would be a great arrangement if you only wanted a long term tenant for the winter season, then the 6 months summer season can be yours to use for holiday rentals or for your own holidays!
Benefits of renting your property out long term
- Provides a steady monthly income throughout the year
- Bills are all paid for by the tenant
- Your property is not left empty for long periods of time
- The rental law has now changed to make it easier to evict tenants
- If you are trying to sell your property, long term rentals is a great way to earn income while you wait for your property to sell.
There is currently a shortage of quality long term rental homes in key areas of the Costa del Sol and the demand is increasing as people are looking to ‘try before they buy’.
This is a great time to rent your property out long term, if you want to make some extra income and don’t want to see your property sitting empty during winter then this is the way to go. A good property management company will take care of everything for you from finding the tenants for you and sourcing references, to handling the contracts, collecting deposits, and dealing with any problems if they occur.
If you have any questions about putting your property up for long term rentals on the Costa del Sol, call us on 952 839 595 or visit our website for more information.