Take advantage of the long-term rental off-peak market
September is here and this marks the end of the high season and the start of the quieter off-peak season. Although September is getting more popular for holidaymakers and it is slightly extending the traditional summer season, there’s no doubt that by the end of the month there won’t be as many holiday rental clients to go around.
If you like to use your property over autumn and winter, then this will suit you fine, but if it is just sitting empty and you want to maximise your income, then you need to think differently. Long-term rentals are in high demand in September, as families are trying to settle kids into school and work opportunities pick up after the summer lull. It’s a great time of year, as many long-term renters will have been frustrated by the holiday season, won’t have been able to see properties and are now desperate to find a place to call their own.
We have a lot of long-term rental clients and not enough quality properties to fill their needs. This means landlords are in a very good position. Competition is low, especially for the non-Spanish market, who can’t use the long-term property rental sites here due to the language. These foreign residents are often willing to spend more than their Spanish counterparts and will sometimes even accept a shorter contract, allowing you to have the option to still rent out your property in the summer months, as some people return to their home country over summer.
Long-term rentals may not bring in the same per week as a holiday rental, but because your season is all year round and tenants tend to stay for years if they are well looked after, it’s a steady, predictable income stream. You don’t have to compete with thousands of other properties, so it’s easier to find tenants and because supply is limited, prices are on the rise.
Long-term rentals are also not governed by the rentals laws that have been making things more complicated for short-term rentals. Plus, there’s not much to do – no key holding or meet and greet, no cleaning at the end of each week. Once you have your contract signed and the tenants are in, you’re simply collecting rent each month and occasionally dealing with issues as and when they arise.
We have a range of long-term rental management packages available. These start from the most basic, where we offer advice and one year of keyholding, plus marketing your property to get you a tenant, up to the most comprehensive. With our all-inclusive rentals management service package we can help you set up the property, handle all the tenant’s requirements throughout the tenancy and offer legal support for contracts and changing over utilities, so you don’t have to do a thing.
We’ve condensed all our years of experience into a guide to help you decide if renting long term is right for you and offering tips on how to make the most from this style of renting. Download the guide for free – Home Owners Tips for Long Term Rentals or contact us to find out how we can help you start renting your property long-term.