OK, you have made the first step by researching our website. You can rest assured you are not alone when it comes to the thoughts of renting your home out to complete strangers. We have put together useful tips and ideas that we hope will help you decide whether this is for you or not.
We generally find that there are two main reasons why people decide to rent out their homes. The number one reason being, they use the income to help fund their annual cost of buying and running the property. With many property owners covering most if not all of the costs, depending on how long they have owned the property and how many weeks they decide to use it for themselves, friends and family. The second most popular reason is that some owners may have purchased properties in the boom periods and are waiting for those times to repeat or simply that the property has been bought for a retirement home and the owner is financing this until it’s time for them to retire.
However, we find that whatever the circumstances are they all seem to have one thing in common, that is the love of the Spanish lifestyle and climate. And if you can get someone else to pay or subsidise this in the meantime, we think it’s a “win, win” situation.
Like everything in life there are always two sides to everything along with pros and cons, and depends on very much your own set of circumstances. Let us explain.
There are many good reasons for using a Property Manager or Management Service. If you are lucky enough to find a good one then they will deal with things like arrivals, departures, cleaning and maintenance. Be on hand to sort out any problems that may arise during the guests stay, explain simple things like how to use the cooker, or turn on the air conditioning and so on. Also many will deal with many administrative duties like taking bookings, deposits and arranging contracts. Also a good PM may have access to a network of properties and previous property renters and help market your property. However, this all comes at a price with many managers taking a commission of anything between 10 to 35% per booking.
If you decide that you would prefer to do this yourself or even share the duties between you and a local agent then we are here to help, please look at our resource centre and here you can find many useful documents such as:
Sample booking form
Sample terms and conditions
And many more, please visit our resource centre
Some owners decide to do all their own marketing online and advertise with companies like us and take booking over the phone along with answering any e-mails from potential clients. Then using a property manager to take care of only arrivals, departures and cleaning service. Others realise they can do a better job and would prefer to do everything themselves to create that personal touch and get that all important repeat booking or excellent review. The choice is yours.
Don’t panic you’re not alone, the majority of holiday home owners don’t live anywhere near the property they rent out. Most of our clients are UK, Dutch, French or German residents with an overseas property.
A good tip is to ask around your local area or a neighbour to see if they would be willing to take care of your property in your absence. It’s hard to go anywhere in Spain now where you do not bump into an expat or know someone who is already managing several properties in that area. This person will be the key to you running your business from a far.
As well as providing a regular cleaning service between check-ins, they will also be your eyes and ears on the ground.
Renting out your home can be a very personal decision because most owners become very emotionally attached to their properties over the years and carry a wealth of beautiful memories and don’t like the thought of having strangers in their homes. However, you will find that most holidaymakers are like-minded and will respect your property; we find that the majority of travellers prefer renting a holiday home to a hotel because of its homely features and comforts and respect the place accordingly.
However, it’s your responsibility to do your own diligence and screen the people the best you can. Call and speak to potential renters, you can normally ask how many people will be staying at the property, do they have any children and how many, or is it just two couples wanting a relaxing holiday. If it turns out to be a group of students looking for an end of term exam break or wild weekend party or just something does not feel right, that gut feeling you just can’t put your finger on, you may just decide to decline the rental.
Like any other private tenant rentals, your guests will be obligated to operate within set boundaries that you decide. These will be outlined within the rental agreement; you can also take a security deposit to protect yourself. We suggest that you might not want to leave any priceless family heirlooms on display, especially if you rent to families with small children.
The simply answer is yes of course. You take the bookings, you control the booking calendar.