Renting out your property in Puerto Banús is a realistic and lucrative option for any owner with the current boom in price and demand for housing in the Port. However, despite its benefits, as owners you can make mistakes that may cost you dearly.
Will the tenants pay regularly? Will they take care of the house as if it were theirs? Will I be getting the best rental income?
Rest assured, these are common fears and errors that come up when you decide to rent out your Puerto Banús property without the security of a real estate agency specialised in rentals.
With her extensive experience in managing vacation rentals and residential properties on the coast, Emily Page of Banus Property below shares some common mistakes that can occur when renting out an apartment in Puerto Banús.
Errors to avoid when renting out your Marbella home
Provide a good description for advertising on real estate portals
Do you know the rental potential of your home? The offer of rental housing is currently very high, as supply does not meet demand, so great opportunities such as your home are highly valued in the property rental market in Marbella.
Dedicate some time to making a detailed description of the house, focusing on its surroundings, its equipment, as well as the services and leisure options that are on offer. Of course, good real estate photography also captures the attention of potential tenants.
Adapt your message to the target audience
A family with children and pets does not seek the same type of property as a middle-aged couple without children or grandchildren. The adverts and preparations of the house should always be directed at the needs and expectations of the potential tenant that you want to attract.
Over the years we have known owners who have experienced real problems because the offers they received did not correspond to the real value of the house, or they only received calls from interested parties that did not match their ideal tenant.
By rethinking your marketing and promotional plan under the guidance of our specialised rentals department in Puerto Banús is key to renting out your home quickly, at the desired price and to the profile of tenant that you are looking for.
Up to date documentation
Owners who rent out their home in Puerto Banús for the first time are sometimes not aware of the documentation they have to provide to the tenant at the time of signing the rental contract, or in some cases they bring unnecessary documentation.
As the owner, you must provide the following documentation:
This varies depending on your situation:
– Resident in Spain with Spanish nationality: DNI or original passport will suffice.
– Resident in Spain with EU nationality: Original passport or current identification document of your country of origin together with a certificate from the consulate that confirms that Spain is your usual country of residence.
– Resident in Spain but from a country outside the EU: Original residency certificate and original passport.
– Not resident in Spain: Original up to date passport or identity document from your country of origin and tax number in Spain (NIF).
In cases in which the owner has signed matrimonial agreements that affect the home, you must include the following documents as appropriate:
– A legal entity domiciled in Spain: original document of company incorporation, original accreditation that the person signing does so on behalf of the company and current ID or passport of the person who acts as its representative.
– A legal entity not domiciled in Spain: in addition to all the documents mentioned above, and should the notary request it at the time of signing the contract, you must also submit the documents translated to Spanish and signed by an official translator
The original title deed of the property.
The original urban contribution (rates) or IBI receipt.
Certificate from the administrator that proves the home does not have any outstanding debts against it.
Photocopy of utility and tax receipts so that these can be changed to the name of the renter.
A certificate of habitation is not mandatory in Andalucía, but it is recommended.
Along with these documents, the owner must also deliver the keys as well as manuals for the correct use and maintenance of any electrical appliances included in the contract.
Who pays what?
This is one of the questions that most confuses both owners and tenants. Who is responsible for each expense and maintenance? As the landlord, you will be responsible for all renovation costs (heating, etc.), while wear and tear damages are the responsibility of the tenant, unless it is agreed otherwise in the contract.
What type of contract is valid for the rental of a home in Puerto Banús? There are official models available from the public authorities. However, an error on the form can nullify the validity of the contract and leave both parties vulnerable.
Do you want to avoid the headache of renting out your home in Marbella? Avoid these mistakes by relying on our rental professionals.