buying to rent

[Can the Man]

From my time visiting Caleta 4 -5 times a year, I have a lot of friends who live and work there and they nearly all rent long term, however, I have heard of some landlords pushing rents up to make it impossible for existing tenants to renew and subsequently getting new tenants at higher rents. A bit like what happens here in Ireland and in the UK.

[TamaraEnLaPlaya]

Do you know if the 3-6 months contract is just yearly or can it be renewed again after it runs out , and have you any idea of cost of the contract please.

Hi Jojo. I've no idea I'm afraid, questions like this are best raised on the Janet Anscombe forum if the answer is not already there.

[jojochef]

Hi I'm sorry didn't mean to confuse anybody .....I want a holiday let to rent out and use myself , I intent to keep this for a few years until we move over for good , then we will buy a bigger residential property to live in permanently , then I have an option of selling the holiday rental or to keep it and still rent it out as a bit of an income. We already own rental property in the uk im not trying to set out my stall for moving over to the island in a couple of years

[Emmi Smith]

In the UK,despite  all the new legislation coming in for rental properties,it is a doddle compared to Spain.

[Jason W]

This time last year we were looking at property with the thought of letting whilst using ourselves for holidays, in the end we decided to buy in Caleta as it was more central, although still waiting for it to be built. We were using an agent at the time in Corralejo who was very good (Goldacre), they made it clear which properties had tourist licences and which either didn't or would not be able to get one. Those with licences were more expensive compared to similar properties that were on the same complex without a licence. We decided against letting (not that we would be able to) in the end and were happy to purchase knowing us and other owners could not have short term lets.

[windermeregolfer]

This time last year we were looking at property with the thought of letting whilst using ourselves for holidays, in the end we decided to buy in Caleta as it was more central, although still waiting for it to be built. We were using an agent at the time in Corralejo who was very good (Goldacre), they made it clear which properties had tourist licences and which either didn't or would not be able to get one. Those with licences were more expensive compared to similar properties that were on the same complex without a licence. We decided against letting (not that we would be able to) in the end and were happy to purchase knowing us and other owners could not have short term lets.

Hi Jason - Just read your post and I am confused as to why on the development you have bought on you can't get a licence for letting as properties on La Estancia which is on the same Fuerteventura Golf Complex have them and I know of one that has the V sign up - 

   

I know a number of villas on La Estancia  that are let for short lets who do not have V signs up so not sure if they licences 

[Jason W]

We were told it had residential only, we were aware that older golf course developments were deemed tourist areas but this particular site had been classified residential. I had assumed that since all the of recent publicity about illegal lets and hotels complaining of unfair competition the planners had deemed it residential only. I am pretty sure i checked with the solicitor and i am  sure the building licence deemed it residential as well.

[Jason W]

To be honest when we first started looking we just assumed everything could be a tourist let, the regulations on licences came as a surprise, but in the end we decided we didn't want the property to be let and would let friends and family use it - which we were assured was permitted as long as we don't advertise it for let.

[TamaraEnLaPlaya]

We were told it had residential only, we were aware that older golf course developments were deemed tourist areas but this particular site had been classified residential. I had assumed that since all the of recent publicity about illegal lets and hotels complaining of unfair competition the planners had deemed it residential only. I am pretty sure i checked with the solicitor and i am  sure the building licence deemed it residential as well.

Just because it is 'Residential' doesn't mean it can't  be let!

You can have a Residential property in a Residential AREA

or a Residential property in a Touristic AREA

or a Residential property in a mixed Residential/Touristic AREA

the rules are different for each and the VV law is currently being redrafted so it could all change again anyway - no safeguards, only a minefield!

see Janet Anscombe's site for detail (Fuerte is the same as Tenerife for rental laws):

https://www.janetanscombe.com/letting-a-...n-tenerife

and I'll say again - don't believe what Estate Agents say - they want to sell and get their commission and very often don't understand all the rules/laws themselves. The same goes for some of the legal bods - many people have been assured of being able to rent/or not,  only to discover later that it wasn't the case.

I hope it all works for you as you want it to but don't be surprised if others around you have a different interpretation of the law!

[Jason W]

Thank you - i had come across her site before and have just re read a few bits, seems we might need someone local to keep an eye to ensure we keep on top of everything.