Step by Step Guide to Making a Profit from your Rental Property

Making a profit from renting your property in Spain on a long term basis is one of the best ways to ensure a) your mortgage is paid (if applicable) and b) your second holiday home is safe from the spate of bank repossessions hitting Spain in recent years.

For many, owning a second home in Spain became an enjoyable reality during the boom years before the real estate crash. With credit never a problem from banks in home countries and here in Spain, many were able to afford not only to have their holiday home in Spain but also to keep their property for personal use without renting it out.

Now that the banking crisis has hit, and its' knock-on effect to the real estate sector, foreign property owners who have an apartment, villa etc. in Spain are faced with 2 choices: get help with the mortgage by renting out the property long term or face the stark reality of handing the keys back to the bank.

While some may be tempted to hand the keys back to the bank, this is not as simple a process as the phrase suggests. One can not simply walk into a branch and hand in the keys, wiping the slate clean. You could still be liable for huge debts depending on the banks valuation of the sale price of the house and the amount outstanding on the mortgage. Even if you live in the UK these debts will catch up with you, after all this is the New Europe with inter-connected computerised tax systems and a centralised government.

Therefore a more realistic, profitable and business-minded approach that we at The Sara Service advocate, is to turn the tables and use our excellent agency to find perfect and suitable tenants to rent out your property in Spain on a long let basis, providing you with financial relief and long-term stability and the peace of mind that you can safely make your monthly mortgage payments on your Spanish property and ride out the world banking and real estate crisis.

We specialise in renting out properties long term all along the Costa del Sol from Fuengirola to Marbella and have helped many Spanish property owners keep their property by either using the rental income to pay their mortgage or in cases where the mortgage payments are not so high, even turn a profit on their rental property.

In cases where you are the owner of the rental property with no mortgage to pay then having a long-term contract with tenants on your property means that you can easily turn a decent profit from renting to suitable and professional clients, with a security deposit and government-approved rental contract for your peace of mind.

So if you own a property in Spain and would like to earn a rental income from the Spanish property, please speak to us today and we will advertise your property in no time to the tens of thousands of house-hunters who visit our site every month looking for the perfect rental home.

  1. Choosing the Right Rental Property Location
  2. Guide to Renting Property - Searching For Suitable Rental Properties
  3. Advantages of Renting Property in Spain
  4. Things to Look Out for When Renting a Property
  5. Information on Long Term Rental Contracts in Spain
  6. Extra Costs Incurred When Renting Long Term in Spain
  7. Bring your Pets To and From Spain
  8. Why Rent Out Your Spanish Property
  9. Short Guide to the Costa del Sol for Long Termers
  10. Spanish Property Owners Guide
  11. Step by Step Guide to Making a Profit from your Rental Property