Any tips on being a letting agent in Spain??

Feb 17, 2010 · Sunni · 5 replies · 2596 views

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Hi,

I've been in Spain for only 7 months now, it hasn't been an easy transitions, especially with work. I would like some advice on letting properties in Spain. I have done some lettings work in the UK and wanted to know if there are any major factors that I should be concerned about?

My plan is to let & manage properties as well as rental payments. Are there any tips of getting into this market, becoming recognised as a credible agent? A lot of this is down to time and getting established, any ideas of getting my foot in the door so to speak.

Getting properties on your books can be challenging also, whats good method?

I would appreciate some feedback, I'm not going to rush in to this business but its sure something I'd enjoy doing.

Regards

Sunni

Feb 25, 2010 · damatt

Easy answer,

DON'T

Feb 26, 2010 · pepsi

You will need to speak fluent Spanish and have a blooby good solicitor.Withuot them dont even think about it.Also plenty of money every other brit does rental property.

Feb 27, 2010 · Santi

Its very easy to do.

My OH worked in one for 2 months, to get people on your books is easy, she used to walk around the community looking for rental signs etc then rang landlords and under cut the agent.

She left though as it was commission based and nobody rented anything and the only property she sold got taken over by the business owner who kept the commission as she did the selling and it was her business.

So she left in the Am by the PM some else was already in her job.

In 2007 the commission for selling a property was 15% of the purchase price, that area average selling price was around 220,000.00 Euros, so great commission, but with high reward brings fierce competition.

And there is a lot of competition, same rules apply in Spain as the UK, you need to find a good location with cost you can afford, thats the hard bit.

Good luck.

Mar 3, 2010 · Sunni

Thanks for the feedback. I'll take that on board.