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Owners' Information

long-term letting

Renting is becoming more popular in the Costa Blanca area. There is currently a shortage of properties for rent and a large percentage of our clients are looking for long term rentals before they consider purchasing in Spain. A lot of our clients are here to rent permanently whilst they live off their investments.

There are many factors you should take into account when considering letting your property long term:-

ADVANTAGES & DISADVANTAGES

Long-term letting has its advantages and disadvantages, although most home owners in Spain find the advantages outweigh the disadvantages, particularly when compared to the short-term letting.

Among the advantages are:

• A REGULAR MONTHLY INCOME
• LESS ˜WEAR AND TEAR™ ON THE PROPERTY THAN A SHORT TERM LET
• NO NEED FOR REGULAR INSPECTIONS AND MAINTENANCE, AS THE TENANT LOOKS AFTER THE PROPERTY
• A POSSIBILITY OF ADDED VALUE WHEN YOU COME TO SELL, IF YOU HAVE A GOOD TENANT

Among the disadvantages are:

• YOU CANNOT USE THE PROPERTY YOURSELF UNLESS YOU SPECIFY CERTAIN PERIODS OF THE YEAR TO RENT
• CAN BE DIFFICULT TO SELL THE PROPERTY WITH A LONG TERM TENANT IN RESIDENCE, ALBEIT THIS CAN BE OVERCOME BY SERVING A TWO MONTH NOTICE TO VACATE.

Furnished or Unfurnished

People generally want furnished properties especially at the lower end of the market, whereas at the top end of the market, there can be demand for unfurnished.

In general you should avoid purchasing the cheap furniture packs that are offered by the majority of the building companies. Cheap or second-hand furniture in the long run will make your property look less attractive and can be off-putting to prospective tenants. However, at the QRC we can help you with furniture selections which will enhance the rental of your property.

You will need an inventory for a furnished property, which will be supplied by QRC inside your owners information pack. This should be completed along with the rest of the documentation required by QRC to take on your property, at which stage you will be required to pay your yearly management fee and supply us with 3 sets of keys for your property.

CONTRACTS

At QRC all long term contract agreements are regulated by a Contract Tenancy Agreement prepared by ourselves and signed by both parties - QRC as agents for the OWNER and the in-going TENANT. The keys to the property are not handed over, or the tenant allowed occupancy until this contract has been signed by both parties and that we are in receipt of one full months rent together with a €1,000 deposit.