What to look for in your real estate/management agency
Rental Process:
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Many agents will feel that this is all they need to do but
there are others who go much further and provide:
·
A fully legal Spanish contract
·
A full inventory of everything in the house
·
A condition report about the property including
any marks, dents, broken items etc.
·
Ensuring any clients are referenced including an
employer reference, a previous landlord reference, accountant reference,
solicitor reference and so on. They will also confirm that these references are
coming from the right people.
Damage deposit
·
It’s recommended to ask for a damage deposit of
two months
o
Let’s say you rent your property to Mr Winson.
He gives you one month deposit and, one month before he is supposed to leave,
he tells you that he won’t pay the rent and you can just use the deposit as
rent money. One week later you’re left with an electricity bill without any
money from the tenant to pay for it.
·
If you take two month’s deposit then even if the
scenario above happens to you then you’ve still got a month’s worth of money to
pay for any bills or damage left behind
Management
·
Good agents will also offer you a Complete Rental Management Service for rental tenancy, though they will charge for this
·
Agents collect rent each month for you and
ensure that the bills get paid. They also check the property on a regular basis
and let you know if any problems arise such as if a boiler breaks or the
electricity goes down
·
When you deal with a good agent you can get back
the agency management fee through the savings you make from them. You can make
savings by reducing the cost of the electricity, working with the town hall,
and using different third party companies
·
One of the best aspects of the management
service is that rental tenancy is managed. It’s a simple matter but an
effective one. They monitor the property and manage it so that tenants know
they are helping
