I suspect that Spain is full of properties that were bought with a view to using as a second or holiday home several times a year, maybe to be used by other members of the family, and occasionally rented out to close friends at mates rates.
With the current recession I am certain that a lot of people are thinking that they may as well rent them out as they aren’t using them as much as they had hoped or planned, and it would be useful to offset some of the costs, especially as the Spanish Government tends to assume that anybody with a holiday home is earning rental income anyway (the Impuesto Sobre la Renta de No Resident tax) and are also looking at new taxes facing expats in Spain and many holiday home owners face tax penalties as a result of the general short fall in tax revenues in Spain.
While renting may be an option there are three issues that you will face:
- It is an over populated market already – you are not the first to think some extra cash would come in handy
- Your property in all probability wasn’t purchased with renting in mind so location, furnishings etc may not be up to scratch, and
- In all honesty how much do you know about the rental market? Where would you market your property, how much would you charge, can you legally rent it out.
This FREE Guide To Renting Your Property In Spain
will give you some ideas on what to do and who to talk to. Whether you are a first time buyer looking at the buy to let market with a view to maximizing your investment in your property, or an existing property owner in Spain looking to recoup some of your costs, it will help BUT it is a Guide Only, please ensure that you take professional advice before making any decision or signing any paperwork!
Please feel free to download the FREE Guide HERE
