Renting Out Property Advice - Page 2

Tourist licence is to allow you to advertise your property for rental.

Digital certificate is a piece of software that identifies you to the authorities as a legitimate person applying for all sorts of things, but doing it on line with your computer.

Ah got it ☺️ that's great thanks Chris for clarifying. 

Helen

No, a digital certificate allows you to access certain sites on line, It verifies you are you.

The tourist licence is compulsory to rent out your place, legally.

You have to meet certain standards.

Ie air con in the bedrooms.

You can apply for it free, but unless you have a good understanding of Spanish it's difficult.

So easier to pay 100€ to an abogado to take the pressure off you.

At first you need to price lower to get people to book your place and get some good reviews. Offer if you can a bit more, ie an early check in, or late departure. A bottle of wine and a few soft drinks. Leave tea, coffee  and basics. These things should help your reviews.

Would you choose to book a place with 5 star reviews or no reviews for the same price. Once you get reviews you can up your prices.

Check out what people in your area are charging. At first go in cheaper.

Price similar properties to yours with vrbo and Airbnb.

It's really worth renting. It just won't cover your costs but also make a good profit too.

As you are going to stay there too, you will also realise what makes your place comfortable, and improve things. Guests will appreciate this, and want to return. Hence more bookings, and more income to improve things.

I find clients from vrbo tend to return private. So I don't loose the 15% service fee, but I get more bookings from Airbnb. They don't tend to return.

You will get some that ask for a reduction.

Don't do it. Stick with your price. Would you go to a hotel and try and barter?

If you use an agent to oversea and take your bookings, it's hassle free but they charge around 40%, I believe.

If you can find someone local and reliable, to clean and do the bookings yourself then you take 100%.

There are lots of people that want work, it's a case of networking and asking about to find someone to clean oversee your place

It hard at first, but really worth it.

In 13 years I ve had 6 bookings that I wouldn't let return. So be prepared for a few that don't respect your place. I now sadly, don't accept families with children under 5.

Good luck and enjoy making people's holidays special whilst also making money😂

Hi Gill, it sounds like you have made a great success with your rentals. Thanks again for this which is really kind of you ☺️ invaluable advice. Helen

Just to correct some inaccuracies above;

1. You do not need aircon in any room to get a holiday let licence. You simply need ventilation and fixed heating. 

2. For every quarter you are paying rental income tax you do not need to pay non residency tax. 

3. Brits can not claim expenses against rental income and will pay a higher rate, I believe it’s 24%

and finally a note: The majority of holiday lets in Spain are illegal, but Airbnb are slowly cracking down on them . They are gathering tax info on hosts and declaring to the relevant authorities rental incomes. As such, many illegal rentals are disappearing from the platform and those that are going legal and staying are ramping up prices. So don’t sell yourself cheap. 

Thank you Coffeelover ☺️