Stress Free Holiday Rentals Part Two
If you’re planning on renting out your property in the Costa del Sol or other parts of Spain then here is part two of our top 12 tips for holiday rentals. Don’t forget to bookmark the page so that you can find it the next time you need it!
1. Put Together an Information Pack About Your Property
|The demand for rental properties in the Costa del Sol is outstripping supply|
2. Set Ground Rules
When you advertise your property you need to include information on things like the maximum number of people that can occupy your property and if you allow pets and smoking.
3. Charge Proper Rental Prices
An important decision is how much you’re going to charge in rental prices. If you’re managing the property booking and advertising yourself you should look at what people are charging for properties similar to yours. If you’re working with an agent then your agent should be able to give you a good rental price that allows you to still make a profit. Remember that this rental income isn’t 100% profit. You still have to take out the costs of the agent’s fee, the advertising costs, maintenance costs, cleaning and laundry costs, Spanish rental tax, insurance, and any other expenses.
4. Prepare Your Property To Remove Stress
It’s important to make sure your property is in top condition so that it can stand up to the wear and tear of being rented all through the summer. Ensure that your appliances and plumbing are working perfectly. It’s a good idea to have your appliances serviced before renting your property. Have the air conditioner and filters, power supply, kitchen appliances, gas supply and gas bottles, automatic gates, garage doors, pool equipment, fuse boxes and TV channels all checked in advance. Don’t forget about health and safety regulations. Make sure your smoke detectors and fire alarms are working properly. Call in a plumber to check your toilets, baths, showers, and the kitchen sink and boiler are all working well and the water pressure is right. If your property has a pool then check the pump and other equipment to make sure it works great.
5. Don’t Be Late With Utility Bill Payments
Ensure that you pay all your utilities such as water, gas, electricity and community fees are paid on time. It’s a good idea to pay them by standing order and check that the bank is paying the bills on time. You’d be surprised how many properties lose power and water because the bill wasn’t paid on time.
6. Remove the Risk of Renting
A great way to take away the risks of renting is to take out a property insurance that covers holiday rentals. These policies are well worth the money and give you important peace of mind. Some of the more common problems and claims with holiday rentals are bath overflows that damage lower apartments and community property damage.