SWANTEK

Our subsidiary company for rentals and management.

Due to the number of clients now purchasing a property with the intention of renting it out to maximise their investment, we are now able to offer a full management, maintenance and rental service.

Our intention is to obtain as many weeks rental as we can for the property and to take care of all the day to day running of owning a property in Spain allowing the owner complete peace of mind.

Obviously we have to charge for this service depending on the type of property, and the level of service you would require, but the cost is reasonable for the peace of mind knowing your property is being cared for and your investment is being maximised.

IS RENTING THE PROPERTY WORTHWHILE?

With property prices having risen dramatically over the past two years many clients need to take out a mortgage to buy their ideal choice.

The average mortgage which can be obtained from the Spanish banks is 60% with just proof of income for the previous two years earnings.

Therefore if the property is £100,000 and you are borrowing £60,000, the approximate monthly payments would be £600 per month. So that is around £7,200 per year.

The average weekly rental for a property of this price in the high season would be around £500 per week and at the very lowest £150 per week. The number of high season weeks in Summer Easter and Xmas is around 12 weeks which are usually almost guaranteed to be occupied therefore bringing in an income of around £6000. (12 x £500) leaving just £1200 to find from the rest of the year. If some long term rentals (usually about £500 per month) are taken during the low season this extra amount is soon achieved.

Of course there are no guarantees with rentals but if friends and family pay a reasonable amount and a client base is built up over a couple of years from referrals and recommendations, the risk is quite low, also even if the property sales market hits a low point, rentals usually increase as people still like to visit the area even if they can not afford to buy.

The final point about rentals is that it is not just a UK market wanting to rent, it is a worldwide market, there are plenty of people from mainland Europe who can easily drive to this area for holidays.