Many Northern Europeans dream of moving to Spain permanently, particularly Southern Spain.
They are drawn here by the weather and the appeal of the relaxed Mediterranean lifestyle. Some people move to Spain with a view to buying their own dream home, while others may be only relocating to Spain for work purposes and do not plan to stay for more than a few years.
Whatever the reason for coming to Spain, many people want to ease themselves into their new life by renting a property first. And as with any relocation, they may not know which area to move to, so will opt for an initial long-term rental to find their feet before they settle. Or if they are only here for a few years, do not want to invest in a property of their own.
The long-term rental market is growing and there is always a demand for high-quality, well-priced long-term rentals in the most popular areas. As a result, more and more homeowners are now viewing long-term rental as a good option.
On a two-bedroom apartment, for instance, you could earn between 500 and 800 Euro per week as a holiday rental, and between 700 and 900 Euro per month as a long-term rental. Even if you normally manage to achieve 10-12 weeks of holiday rentals during the year, the long-term rental option still compares very favourably. What’s more, the long term rental option means a steady stream of income throughout the year, and also the possibility of that income continuing if the tenant renews for another year.
Many of our owners who had previously rented out for holiday lets are now considering the more stable long-term rental option, and if they were only using their Spanish holiday home one or two weeks a year, they now rent a separate holiday home so as not to miss out on their annual holiday.
Renting out long-term basically means contracting a tenant to live in your home for an agreed fixed period of time. That time period can vary, but in Spain it’s typically between six months to two years. The tenant will pay you a fixed rent each month and pay all the utility bills during their tenancy. This offers you the security of having rent coming in throughout the year, without the hassle of constantly changing rental clients.
If you want to have a steady income throughout the year and don’t want to see your property sitting empty, then this is the way to go.
HomeRentalontheWeb is highly experienced at taking care of properties on behalf of homeowners in Spain. We can find you tenants, as well as managing the whole process of contracts, deposit collection, reference sourcing and dealing with tenancy problems when they occur – which means you can enjoy the rewards of your long-term rental as we take the strain!