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Can anyone recommend: Property management service

Posted: Fri Sep 24, 2021 10:48am
6 replies75 views3 members subscribed
Bevg

Posts: 8

1 helpful points

Location: Corralejo

Joined: 8 Aug 2019

Hello,  I am looking to buy a property in Caleta with the view to renting it out for holiday lets for 6 months of the year. I am trying to work out the costs involved and would like to get an idea of how much a property management service would be per month.  I will still be living in London,  so will not be on site. Thank you

FuerteventuraNow

Posted: Sat Sep 25, 2021 7:31am

Posts: 17

3 helpful points

Location: Antigua

Joined: 19 Aug 2021

Posted: Sat Sep 25, 2021 7:31am

Hi.   I can thoroughly recommend Tony & Sharon of Caleta Property Management Services.  Lovely couple, excellent work and very competitive prices.  https://caletapropertymanagementservices.com/

When working out costs, don't forget the tax implications!  I also presume you know about having the property licensed for lets.

Bevg

Posted: Sat Sep 25, 2021 11:30am

Bevg

Original Poster

Posts: 8

1 helpful points

Location: Corralejo

Joined: 8 Aug 2019

Posted: Sat Sep 25, 2021 11:30am

Thank you for the info.  The properties that I'm looking at are all on complexes with touristic licenses so no problem there.  I'll have a financial advisor to help with the tax issue. I'm on a pension so don't have too great an income

AlanO

Posted: Wed Sep 29, 2021 10:38am

Posts: 3

Location: La Oliva

Joined: 24 Jun 2019

Posted: Wed Sep 29, 2021 10:38am

Bevg wrote on Sat Sep 25, 2021 11:30am:

Thank you for the info.  The properties that I'm looking at are all on complexes with touristic licenses so no problem there.  I'll have a financial advisor to help with the tax issue. I'm on a pension so don't have too great an income

Unfortunately post Brexit U.K. income is irrelevant - all rental income will be taxed in Spain and you’re not able to offset any expenses such as management costs, cleaning, electricity and so on. If you need details of a good Spanish tax representative let me know. Good luck though! Will be exciting!

Bevg

Posted: Wed Sep 29, 2021 1:23pm

Bevg

Original Poster

Posts: 8

1 helpful points

Location: Corralejo

Joined: 8 Aug 2019

Posted: Wed Sep 29, 2021 1:23pm

AlanO wrote on Wed Sep 29, 2021 10:38am:

Unfortunately post Brexit U.K. income is irrelevant - all rental income will be taxed in Spain and you’re not able to offset any expenses such as management costs, cleaning, electricity and so on. If you need details of a good Spanish tax representative let me know. Good luck though! Will be ex...

...citing!

Maybe I'll just have to move to Fuerteventura and forget about a rental!

FuerteventuraNow

Posted: Wed Sep 29, 2021 3:36pm

Posts: 17

3 helpful points

Location: Antigua

Joined: 19 Aug 2021

Posted: Wed Sep 29, 2021 3:36pm

Bevg wrote on Wed Sep 29, 2021 1:23pm:

Maybe I'll just have to move to Fuerteventura and forget about a rental!

While I would say go for it (best thing we ever did) Sadly, due to Brexit, that is not as easy as it used to be.  The financial security you need to prove has gone up from 6.000€ tp 28000€ for first year, then, for the second year, you must show 2 years, ie 56000€, and that amount again for years 4 & 5.  You must also take out health insurance with no excess and no exceptions with a company that is approved by Spain.

Bevg

Posted: Wed Sep 29, 2021 6:12pm

Bevg

Original Poster

Posts: 8

1 helpful points

Location: Corralejo

Joined: 8 Aug 2019

Posted: Wed Sep 29, 2021 6:12pm

FuerteventuraNow wrote on Wed Sep 29, 2021 3:36pm:

While I would say go for it (best thing we ever did) Sadly, due to Brexit, that is not as easy as it used to be.  The financial security you need to prove has gone up from 6.000€ tp 28000€ for first year, then, for the second year, you must show 2 years, ie 56000€, and that amount agai...

...n for years 4 & 5.  You must also take out health insurance with no excess and no exceptions with a company that is approved by Spain.

I will be selling my London property so luckily the financial side is not an issue. I've seen some lovely properties in Corralego so will concentrate on looking there for a permanent home. My only concern is 'Would I miss the trees/ changing seasons too much?'  I suppose that I could always come to England or Europe for a holiday in spring and autumn...

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