If you are considering buying a holiday home in Spain, with particular interest on the Costa del Sol, then 2018 is definitely the year to get started. The opportunity to earn substantial rental income on a holiday home in Marbella has never been better.
Is it worth buying a second home to rent out on the costa del sol?
The Ideal Location – Where should you buy a holiday home on the Costa del Sol?
The Costa del Sol as you may know is a large area with many different seaside towns. Besides the area of Marbella, which of course is by far the most famous, there are other areas gaining in popularity. One such area is Estepona – Estepona property for sale is making a huge dent in the market at the moment, with some even saying it might just be the new Marbella! We tend to agree, considering the new developments in Estepona that put you front line beach.
Other areas gaining in popularity are Gaudalmina, Nueva Andalucía, Benahavis property, La Quinta luxury property, the areas of the Golden Mile, the New Golden Mile and many more. The property types are vast as well, with many options that include a simple 2-bedroom flat within an urbanisation, a penthouse apartment, a new villa in the campo, and of course luxury apartments and villas across the Costa del Sol.
The point is you’ve got your work cut out for you if you plan on investing in a holiday home on the Costa del Sol to take full advantage of rental income. Status Homes however, can certainly lend you hand and provide you with a short list if you so wish. For now, lets just ahead a bit and talk about the rental industry here on the coast.
Jumping in the Rental Business on the Costa del Sol
Once you’ve chosen a property, it’s time to consider your target audience. Who do you want renting your property for their holidays? By determining your target group of tenants for short term or holiday letting, you will achieve the best results in your Costa del Sol holiday rentals business - both in terms of earnings and customer satisfaction.
For example, your target group could be young couples with no children, elderly couples, families with children, young people coming to the Costa del Sol for Hen parties, and Bachelor parties. The sky really is the limit here!
Where do you stand to make the most possible income? This question of course is by far the most important. You need to appeal to the individuals you want to visit and use your holiday home. The summer months on the Costa del Sol can start in May and last all the way to October. We see that most young people and young couples with families will visit the coast from late June to late August. However, most elderly couples looking for a get-away will come here in the months of September, October and November.
The Size & Structure of your new holiday home in Spain
The size of your flat, townhouse or even villa will be an important element in the marketing of your holiday rental home. The accommodation you choose is important for your target audience. For example, smaller two-bedroom apartments by the sea will appeal greatly to an elderly couple. Whereas a large villa inland surrounded by mountains with its own private pool will appeal to a large family. Statistical data has shown us that large families of 4 or 5 prefer self-catering to hotels. Obviously because the costs for self-catering are far cheaper here on the Costa del Sol.
Young people looking for fabulous time also opt for a villa, however closer to the sea and coast line for easier transportation. In those cases, young people are here to take full advantage of the night life in the areas of Marbella and especially Puerto Banus.
The Features and Furnishings of your holiday home in Spain
House features and furnishings are very important when it comes to your target audience. These days Wifi is important, cable TV, air conditioning, mosquito nets, double glazed terraces, BBQ, well maintained appliances in a fully modernised kitchen and so on. A private pool could go a long way as a selling point, however, urbanisations that have more than one community pool with their own bar or café goes just as long.
Keep in mind that families find swimming pools very attractive, but the pool must be adequately shielded with a fence for safety reasons. Parents will also look out for an outdoor area that is completely fenced, so they can relax without being worried about where the children might walk or wander off. Likewise, remember to have a door or gate in front of stairs. Remember, it's quite crucial to think about security if the target group is families with children.
Getting ready to rent out your property on the Costa del Sol
Finally, lets talk about renting in Spain and taking full advantage of the growing tourism boom here in the south of Spain. Once you have made your purchase with the right choices of location, size, design, special features and furnishings in mind, renting out your Costa del Sol home to holiday makers becomes easier.
Keep in mind the normal level for Spanish properties is 20-30 weeks of rental per year. You can earn upwards of 500 Euros per week…even more depending on the property size. The rental itself can be managed by either you as the owner or a skilled agent in the area that you choose. Tasks are to meet with customers, provide keys, accept payment and check guests out, etc. In most cases, cleaning is done by local cleaning companies.
All of the above-mentioned necessities in upkeeping your holiday rental on the Costa del Sol is easily met if you advertise properly and charge the right amount per week. We are here to give you the advice you need with regards to prices and maintenance.
Finishing off with one final bit of advice, it will come down to properly advertising your rental on the Costa del Sol. Many professionals and private landlords will opt for online advertising and in some cases, advertising in magazines in our area and of course your home country.
We strongly recommend you use online advertising, as statistical data presented to us indicates more and more people are searching online for the perfect rentals in Spain.