Lenovaz real estate agency in Costa Blanca offers services to guarantee the rental of your property in this region. If you have purchased a property on the Spanish coast but are not permanently here, you can legally rent your home, earning a passive income. We deal with real estate in Costa Blanca and offer a full concierge service.
When planning to rent your home, you must decide how you want to rent it: by the day or long-term rentals. Depending on your chosen option, you must prepare your accommodation accordingly. What is enough for a short-term stay is needed for those who plan to live and stay in the room for a long time. And vice versa, there may be too much in your house that short-term visitors will not demand.
We'll tell you how to convert your place in a way that will affect its demand and price, depending on the type of rental you choose.
The Profitability of Renting Your Own Home in Costa Blanca
For a long time, Spain has been one of the few countries in Europe that kept a high percentage of profitability from real estate rental. It is higher than the European average and ranges around 7.5% annually for long-term rentals.
Since the Costa Blanca region is a tourist destination that attracts millions of people yearly, the most profitable is the daily rental of their homes. Depending on the type of property and the load, you can earn from 10,000 to 100,000 euros a year before taxes. Whether to pay taxes on rent, everyone decides for himself, depending on the situation. We do pay taxes and recommend our clients to do so.
Long-term rentals are less profitable in average annual terms, but are a quieter form of earning. On this lease, you can earn a yearly average of 7.5%.
Advantages and Disadvantages of Renting Your Own House
Each type of rental has its pros and cons. Before you decide which way you will rent your home on the Costa Blanca, we offer a brief comparative overview of the advantages and disadvantages of both options.
The pros of renting your own home:
- Earnings, which can exceed monthly by 2–3 times
- There are no significant investments in repairs
- No need to buy additional appliances or household items.
Disadvantages of renting your own home:
- You pay utility costs out of the money you earn
- High probability of property damage
- The need to control the schedule of arrivals and departures of guests
- Obligatory availability of fresh bed linen and towels, the need to use the laundry service
- The need for daily cleaning or cleaning after guests check out - cleaning services
- Low liability of guests for your property
- The need for cosmetic repairs at the end of the rental season
- Possible complaints from neighbors in case of inappropriate behavior of your guests.
Benefits of renting out your home on a long-term basis:
- No need to constantly look for clients to rent to
- A signed contract between the owner and tenants regulates the relationship and describes responsibilities, including liability
- The tenant pays utility costs
- High tenant responsibility for your property, spelled out in the contract
- Stable fixed monthly payment
- Possibility of raising the rent if the market conditions change.
Disadvantages of renting your home for the long term:
- The cost of housing depends on the quality of the repairs and furnishings in the room
- Less profitable option for making money
- You can't stop renting abruptly if you need to move back in right away
- Relatively high depreciation of the home.
Other Services for Renting Your Property in Spain
Our real estate agent takes care of most of your rental needs. You do not need to be on the Costa Blanca to control the process. We take it on ourselves. You will only receive money and reports on the work done by us. Your property will not be empty.
We offer the following services:
- Searching for potential clients for long-term and short-term rentals
- Previewing properties for prospective clients
- Receiving and transferring cash for rent to your accounts
- Accepting tenants when they move out, checking the property's integrity, and collecting compensation in case of damage
- Assisting with the move-in of tenants into your home
- Keeping keys and necessary documents
- Repair work
- Cleaning services
- Purchasing services for the necessary inventory.
We sign a contract for property management in Spain, with the possibility of renewal. In the case of minor household problems, a team of professionals fixes them. All services you may need when renting your home will be specified in the contract.
The cost of services is discussed individually and depends on the amount of work, size, and number of properties.
Write to us if you have a property and would like to rent it out. Need clarification on what type of arena to choose? Write us the location and describe your property, and we will tell you the best option.