Kyero today announced that long-term lets have increased in popularity with approximately 20% of all enquiries for rental property now for long-term lets. Which could be very good news for property owners.
The majority of owners prefer to rent only to tourists as the prices charged during the holiday season are far higher than monthly rental charges. However, this has to be weighed against the lottery of being able to get enough clients, which in itself requires a substantial amount of work.
In addition, while there looms the new threat of the need for a tourist licence if you are planning to do holiday lets, long-term rentals do not require this - apparently, but always check with a local lawyer to be sure.
There is no doubt that it will take some time for confidence in the Spanish housing sector to return, during which time there are many property owners left with a property they were never planning to keep, which they are unable to sell, and which is costing them money.
Long term lets could well be the answer allowing owners to ride out the current dip in the market, while earning some income from the property towards the mortgage.
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