Ever thought of becoming a landlord?
With the property market as buoyant as it is, and interest rates not providing a return on your investment for as much as you’d hoped for, why not hop aboard the gravy train, and become a landlord!
According to statistics carried out with Spanish property analysts, 7% of homeowners rented their property within the first three days of listing it available, together with 16% in a week and 19% within two weeks!
This is incredible, and shows what a fantastic time it is to own a property to rent out right now.
The Costa Blanca is still being advertised and shown to the world as THE place to be, whether buying a holiday home, settling down for the long haul or purchasing an investment to earn an income, proves that investors are extremely welcome and encouraged to accommodate all of the visiting tourists.
Although prices of property remain quite stable, the foreseeable future looks bright.
Who do you think are buying? The Brits! Yes, I know it seems unbelievable, especially with all that’s going on in the U.K. right now, but buyers are still wanting what we have, a safe environment to either holiday or live in with their families in the warm Spanish sun.
Buying a home here right now at the right price, as an investment to rent out will give you a steady income, and if you don’t want to deal with it yourself, there are plenty of local companies that can help you.
If you are looking at investing in a rental property for a holiday let, they usually have a higher return if they’re on a community with swimming pool, if they don’t have their own private pool. However if it’s a long term rental you’re more interested in renting out, then swimming pools are not so important.
Remember, when you’re looking at property as an investment, don’t look at them the same way as if you were going to be living in them. You need to put your business head on, and look at what a tenant would be looking for and not you. Tenants come and go, and can be flexible on what they’re looking for in a holiday rental. For example they don’t mind so much, if they have to share a bathroom. So if you find a suitable property that doesn’t have as many bathrooms as you were hoping for, don’t let it be any less of a contender. Like I said, you’re not buying it for you to live in.
The same goes for bedrooms. If you originally thought you would prefer to own a three bedroom property, but you’ve seen the perfect one with just two bedrooms, by putting a sofa bed in the lounge, you can still offer the home to potential tenants as being able to accommodate six people.
Have some spare money that you’re ready to invest? Maybe becoming a landlord is in your future!