Holiday Letting – Questions

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This topic contains 15 replies, has 7 voices, and was last updated by Profile photo of marios marios 11 years, 3 months ago.

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  • #51172
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi,

    We’re due to complete on an apartment in Elviria in Oct/Nov this year and will be looking to rent it out for short holiday lets. As complete newbies we have a lot to learn and were wondering if we should install a telephone for tenants use or not bother as nearly all people have mobiles nowadays?

    Any links to useful sites on letting in Spain would be v. useful as well!

    Many thanks,

    Graham

  • #58538
    Profile photo of Anonymous
    Anonymous
    Participant

    Speaking as somebody who has rented villas and appartments, a telephone is not high on the list of things that would make me chose one property over another.

    Satellite TV with access to all Sky channels is a big plus as would be aircon. On a golf course would be another or sea/beach views.

    I hope you are not anticipating lots of rentals as the market is pretty saturated and will only get worse as more and more property comes on stream, especially appartments.

    The best option may be to try friends and families at first and also try some of the rental websites. Problem with the rental websites is there are hundreds if not thousands of appartments for rent in Spain.

    Also, do not underestimate wear and tear with rentals. I have a caravan which I let out sparingly to friends and family, but still suffers from wear and tear.

    Regards
    Kevin

  • #58551
    Profile photo of Anonymous
    Anonymous
    Participant

    Best to do a google search using key words “self catering accommodation villas apartments rent direct andalucia costa del sol” and look for the ones who show on the first page (that are not paid-for/sponsored ads). You will find those companies get visited most for by those looking for accommodation.

    Be very careful if using a rental management company, have heard many stories of firms renting out apartments and not telling the owner, pocketing the money.

    Best to go direct yourself and find a recommended local person who can check the property before clients leave (deposit retention check) and provide cleaning, bedding, welcome pack

    When you look at others availability, you will see many struggle to get more than 8 weeks summer rental and 12 to 14 weeks can be considered a big success

  • #58557
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi. Your post name made me look at your posting and sure enough, as I had suspected(hoped?) your appartment is in Elviria. Would that by chance be the GREEN HILLS development built by GRUPO ERALIA??

  • #58559
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Kevin and PJA,

    Thank you very much for the info it’s much appreciated – I’m not setting my sights too high, 8 to 10 weeks rental per year would be great if I can achieve it! I’m going to stay away from the management companies and look to try my luck dealing with a local individual who has been recommended to me.

    Hi Claire,

    This apartment is indeed on the Green Hills Grupo Eralia development but is situated in the lower development (Blocks 6 – 11). I read your previous posts and realise now how lucky I’ve been – I had a friend who is based in Puerto Banus and he informed me about the license situation at the time. It literally was just before I transferred the 1st 30% of the purchase price. Because of this I was able to hold back until I had confirmation that the license for our apartment had not been permanently revoked.

    I must admit that I have had to chase Eralia for any updates during the build. Not once have they contacted me to provide an update.

    I am going over to Marbella next week and will finally be able to see the show flat and progress on the rest of the development. While I’m there I will ask about the issues regarding blocks 1 – 5 and see what the on-site customer service team have to say about it. I wish you luck with your situation.

    Graham

  • #58560
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    Anonymous
    Participant

    Many thanks for your response. I’m afraid all you will get is lie upon lie from Eralia as we did when we spent 4 days in Marbella in early May. We spent our time at the Eralia head office, DLM and OE. They were all lying through their teeth, to cover their A****.

    have you read our latest saga,headed ” our latest nightmare” or words to that effect. Even the lawyers have taken all of our money. My husband is a Chartered Accountant, so he is VERY on the ball re finances, but even he did not for see this mess. As one professional body to another(lawyers) he did not think they would be so ..what word shall I use ??????????

    I really hope all goes well for you. My husband & I would be grateful if you could keep in touch re the progress. I have tried many times to get in contact with other buyers of this development. Needless to say neither OE or DLM would help us in that quest even though they were “sympathetic” to our situation!!!!!!!!!!!!!

  • #58564
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Graham

    WIth regards to your potential rental there are a number of sites you can use. One of the best ones I have used over the past 2 years is http://www.villarenters.com – they only charge you if they rent your property out (they carhge 10% commission) therefore they have a vested interest in getting your property rented out. Their customer service is excellent and you can contact them generally throughout the day betweem 9am and 6pm.

    Other sites I have used and the results I have had this year are below

    http://www.rentalo.com – lots of enquiries but never had a single booking – not worth the money
    http://www.holidaylettings.co.uk – one booking
    http://www.Portside.com – 2 bookings
    http://www.selfcateringhols.com – 1 booking (charge a commission)
    villarenters.com – 8 bookings
    http://www.fiestasiesta.com – lots of enquiries and 2 bookings
    http://www.segundo-manos.es – no bookings but it is free

    As for the so called holiday villas magazines Iwouldnt bother – they are expensive and I have never had a single enquiry – I know of 3 people who advertised in the same magazine and not one of us got an enquiry. If you think about how people book they generally got to the internet.

    The one exception to this is the Lady magazine – advertise at the right time and it is very effective – it costs about £100 for 4 weeks but everyone i know who has tried it has had great success.

    You could also try the Costa Del Sol News and other papers down the in the CDS. or Exchange and Mart and Daltons weekly.

    Also one thing i did when I lived in the UK which proved a great success and cost about £150 was to print off about 5,000 small leaflets with detials – leave them in newsagents and notice boards locally – I went and did a leaflet drop round my house in UK and after about 2 hours already had 3 bookings (I did it in January about mid way through the month – timig is crucial in this instance)

    Also try putting ads in the free ads in UK (most have interent sites) and there are a lot of free websites that you can put your property on. They arent brillaint but even one booking is worth the trouble as it costs nothng.

    The market is flat but with a bit of creativity you can be ahead of the pack. I have had my property rented out almost constantly since January (I have missed about 5 weeks) However compared to other proeprties mine is at least 25% cheaper – but what I miss out on in the big bucks I get back in the steady trickle whioch is mroe important.

    Some thngs that may help you

    1. Always put as much information about the proeprty as possible – you can never give too much information. If they have to ask a quesiton chances are they will look elsewhere first (and probably never come back to you

    2. Use a system that utilises auto booking. Villarenters ahs a great booking engine and allows people to pay by credit card. They also follow up at every juncture with reminder emails which you get a copy of.

    3. Dont try and go for bigger bucks by adding more sofa beds – believe me you will regret it. If you have four beds then it sleeps four. Anymroe and you have 6 people for example in a house deisgned for four – you will suffer badly with wear and tear.

    4. Install Sky Satellite TV, AC, A kettle, Fridge, Washing Machine TV, Music system and DVD player.

    5. Make the place a home from home and people will want to come back again.

    6. Take the best photos and use the maximum photos that a particular site allows.

    7. Get your own website with fuller information on. Have links back to this website form anywhere you put it

    8. Use Ebay for obscure weeks – you may only get £100 or £150 for the week – but thats more than having it empty and those people may well book up for summer if they like it. – I have had 2 rebookings from people who stayed in January and March.

    9. If you do use an agent then call them periodically and tell them you have a potential boking or that you will be using it for certain weeks – you may be surprised to find they have “Just taken a booking for that week and were about to call you about it. Better still get someone locally you can trust who can check it out for you.

    Regards and best wishes

    Vince Barnes

  • #58576
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Graham,

    I posted a reply to you a few days ago, but we wondered if you could tell us when you bought into the Greenhills development and when you paid your 30% deposit.

    We are trying to find out when Eralia ,Ocean Estates, & Direct Lawyers Marbella, knew about the licence problems. We have asked all three, but have not been given an answer, except from an Ocean Estates employee who said he only found out when we did, March 2005 !!

    We really would appreciate a response from you.

    TIA, Claire.

  • #58594
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    Anonymous
    Participant

    Your comprehensive information was very useful – thank you.

  • #58642
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Graham,
    I do not know if you are back from Marbella yet. I am just hoping you will have some information regarding the “development” !

    Regards, Claire

  • #58643
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    Anonymous
    Participant

    Oh Dear!! I was not “logged in” to the above post!

  • #58670
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Claire,

    I just arrived back this morning.

    To confirm when I found out about the embargo it was the morning of the 2nd of Dec 2003.

    I contacted my lawyer and received the following response on 23rd Jan 2004

    Dear Graham,

    Yesterday I had a meeting with the developer’s solicitor who confirmed that the suspension only affects the blocks 1 to 5 and not the remaining blocks. He has confidence that the High Court of Andalusia will cancel the suspension of these blocks shortly and he confirmed that even though it was not like this and the blocks 1 t 5 could not be build, the other blocks would be built as planned.

    Therefore I think that you can go ahead with the purchase with all guarantees. I can inform you that I have signed during the last three months contracts for other clients in block 7, 10 and 11 and I received the bank guarantees for the paid amounts. If there was any problem the bank would not have given these guarantees.

    If you wish to continue with the purchase I look forward to receive your transfer of 100.350,00 Euros to the account indicated in my e-mail from 14th November.

    Looking forward to hearing from you.

    Best Regards
    Manuel

    Talking to the sales office staff in Elviria I got mixed messages. On the one hand they believe that blocks 1-5 still have an 80% chance of getting the go ahead. On the other it’s only a 20% chance. They did say that their lawyers were actively fighting the embargo.

    I do hope that the above information helps.

    Regards,

    Graham

  • #58671
    Profile photo of Anonymous
    Anonymous
    Participant

    Dear Graham,

    I am SOOOOO grateful for your reply 😀 It beggars belief(re:the e-mail from your lawyer) that our lawyers so blatantly withheld information and blatantly lied to us ! What truly angers me is the “Bank Guarantee “issue. Because Direct Lawyers Marbella are obviously “in the pockets” of Grupo Eralia, we did not get a BG, even though they assured us that we would be granted it when we paid 118,000+ euros deposit.. back in October 2003, 2 months before the revoking of licences. I cannot believe all this information was known in December 2003, and we did not get to hear until March 2005 !!!!!!!!! We have e-mails from OE & Direct Lawyers saying everything on target for completion, 2005. 👿 Did you get your lawyer independently or were you recommended them?
    Graham, I wonder, would you be kind enough to e-mail me, as there are a couple of things I would like to ask you. (I fully understand if you are too busy to.) NOBODY in this whole sorry mess has given us the information we have been asking. Your letter from your lawyer has. THANK YOU !!. THANK YOU !!!! 😀 This is giving us a major headache as you can imagine.

    On a lighter note, were you happy with what you saw at Green Hills? We are going out to Spain the 1st week in October. We are sorely tempted to have a look…just to make ourselves more miserable 😀

    Send me a PM.

  • #58672
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    Anonymous
    Participant

    Log-in didn’t work for above post !

  • #58673
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Claire,

    I’m very pleased to have been of some help. I can only begin to imagine how frustrating the situation must be for you.

    Our lawyer was recommended by our agent and we have been very pleased with the service that we have received to date.

    Our visit to the site went well, although still a very dusty building site, the show apartment is complete as are the main structures of the 5 apartment blocks. We were able to see the internal and external finishes and get a sense of how the development will feel when complete. As you are aware, it is very peaceful in that location and the views across the pine and cork trees in valley and down to the sea are lovely. You never know, maybe you could pick up a bargain in blocks 7 – 11 if someone was desperate to sell before completion?

    For further questions send me a PM

    Regards,

  • #58739
    Profile photo of marios
    marios
    Participant

    A great site for wanting to know all about renting is the owners forum,some great tips and info.

    http://www.laymyhat.com/forum/index.php

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