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How to Make the Best out of Renting Your Property in Spain

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By : Phil Taylor    99 or more times read
Many people that have bought property in Spain over the last 10 years or so have done very well in the rental business. However, due to the huge growth in the building industry in Southern Spain in the last 4 years. There has been a knock on effect of triple the amount of property available for rental.

This has had a massive impact on the rental market in Spain. It is bad enough new buyers being told by unscrupulous estate agents that their new property will bring in X amount of euros when in fact it will only bring in half to two thirds what they say.

So the combination of bad selling techniques and the overloading of property on the rental market equates to many owners not taking as many bookings as they hoped. Some facts:

* Many owners expect to rent their property for most of the year.
* Many owners are asking too much for their property per week
* Many owners do not want to pay much for advertising
* Many owners do not respond to enquiries the day they receive them. IE they do not read emails every day
* Few owners consider long winter lets as an option.

To take these facts one at a time.

Reality is that they will be fortunate to have it booked for 20 weeks. In fact many properties are only let for about 15 weeks. Much of this is because of the prices some are charging. A 2 bedroom apartment on a golf complex is advertised at 800pw in summer a similar apartment on the same complex is at 600 in summer. As a visitor which one would I choose?

Too many owners advertise in papers and magazines not realizing the internet is THE place to advertise. If they do use the internet, owners often only use one web site instead of at least 3 sites. The best sites are those dedicated to Spain. But having a global one is also recommended. Good quality photos are rarely used. Too many people are using portrait style photos which just simply do not portray the property at its best. It is baffling that owners will spend hundreds of pounds on one off paper advertising but shy away from spending 300 on three quality sites like this Rental Site

Owners MUST check their emails at least twice a day. They do not realise that most visitors enquire after an average of 4 properties on each site they visit. As in most things in life it is often a case of first to respond gets the booking.

Some owners are too abrupt in their reply. Replies MUST be polite even if the property is booked the owner should either offer an alternative week and also suggest they might like to book for next year at a discounted rate. The reply should also include some additional information. Maybe an extra photo or two. A typical reply should read something like:

"Thank you for contacting us about our property in Spain. We are pleased that you took the time to contact us and that the villa is available for the dates you have requested.

We require a 25% deposit with the balance paid 4 weeks prior to departure. I have attached a couple more photos of the villa. I look forward to hearing from you and that you will be booking the villa. I will reserve it for you for 3 days until I hear from you. Kind regards..."

Long winter lets are a seriously overlooked option for many owners. It is far better to have someone in the property paying you a monthly rate far reduced from the 4 weekly rate. Not only does it mean owners have money coming in it also ensures that someone is in the property for security reasons.

If owners adapt their methods of marketing and in many cases reduce their rates, they will surely benefit from the changes made.

The competition is widespread throughout the Southern Costas of Spain. It is imperative that property owners looking to make the most of their investment think first before setting their rates and where they should advertise. Internet advertising on sites like without doubt is the BEST value for money you can get.
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