Name: property for sale gran canaria
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May 23, 2023 Daniele Piccoli No Comments Uncategorized

NEW LAW ON LONG-TERM RENTALS

LONG-TERM RENTALS VS. SHORT-TERM RENTALS : THE NEVER-ENDING STORY

Spain’s new Rent Law appears to introduce a cap on long-term rental prices, with the aim of making it easier for residents.
This initiative could bring major changes to the Spanish rental market and have a significant impact on the lives of citizens.
With the new Spanish Rent Law, residents could benefit from greater stability and predictability in long-term rental costs.
The implementation of a cap on rental prices aims to counter the exorbitant rise in rental prices and ensure that rents are affordable for all.
However, it is also important to consider the potential negative consequences of this measure.
If the cap were set too low, it could limit the supply of rental housing on the market.
This could lead to a reduction in available rental opportunities and increased competition among interested parties.
It is crucial that the new Rent Law in Spain strikes a balance between protecting residents and making the rental market sustainable.
It will be interesting to monitor the implementation of this law and to assess the effectiveness of the measures taken in achieving its goals Although the new Law on Renting in Spain offers the possibility of capping long-term rental prices, it is necessary to carefully assess all the implications and consider the overall picture of the rental ecosystem in Spain to fully understand the effect this measure could have on residents and the housing market as a whole.

VIVIENDA VACACIONAL WILL CONTINUE TO INCREASE AND BE A SAFE AND GUARANTEED INVESTMENT IN MY OPINION AND I’LL EXPLAIN WHY

The new long-term rent cap law, scheduled to be passed by the end of the month, may have an effect contrary to what was hoped.
Although the goal is to help residents cope with exorbitant monthly rents relative to their income, by eliminating the real estate fee charged to tenants and shifting it to landlords, it could discourage landlords themselves from renting out their residential properties.
This, in turn, would further reduce the availability of homes for residents, joining the thousands of vacation homes, i.e., Vivienda Vacaciònal already in place.
This situation could be viewed positively by us Real Estate Agencies who manage properties for short rentals, however, as we are also residents on the islands, we are aware that we could be negatively affected from another perspective.
In summary, it seems that once again we cannot find a solution that reconciles the free will of the owners, the needs of the residents, and the continued development of tourist rentals, which has rightly become the main economic sector of the islands and is unlikely to fade away.
So the Vivienda Vacaciònal will always remain a safe and guaranteed investment.

May 19, 2023 Daniele Piccoli No Comments Real Estate Investments

BUYING REAL ESTATE OR INVESTING?

BUYING OR INVESTING IN THE REAL ESTATE MARKET IN GRAN CANARIA THE DIFFERENCE IS RELEVANT

When I interface with people who contact me for information about the real estate market on the island of Gran Canaria, the first question I ask them is: do you buy for personal use or for investment?

For many the question may seem strange because a real estate purchase is often confused with a real estate investment, but the two differ and not a little!

If I buy a property and block a certain amount for this transaction and then use the house for myself, for my family, for my vacation, etc., I have not made an investment, I have made a purchase; it is different if I buy a property so that it generates income for me and does not remain a blocked amount that only generates expenses for me even though I use it.

This difference is not grasped even by “improvised or handyman” real estate agents because they don’t care if the person who comes to their office wants to buy to live there, to rent long term, for own vacation or for short rent….they only care about getting the commission…and everything else who cares!

This is why I tend to distinguish myself from the mass of agents real estate and indeed I do not identify with them at all, I call myself more of a Property Finder, a person who searches for properties suitable for the use that the potential buyer wants to make of it and not necessarily what I have available even if I do not think it is suitable for the use, or any property, in any area as long as it pays!

If in fact you want to buy to live then you will opt for residential areas, convenient to services, that do not have disproportionate prices per square meter having to be large enough anyway (unless you want to live in a hole) and not necessarily in financially liquid areas, avoiding purely tourist areas all the more so today in light of the events known to all that have led to fines being levied against those who reside in tourist areas and in complexes dedicated to tourism.

If, on the other hand, one wants to buy to rent long term therefore with a “secure” income ( having luck that the tenant pays) and without particular constraints regarding licenses, permits and local laws regarding tourist rentals, then one will have to opt for areas where there is demand for long term rentals and an excellent investment-return ratio, so I will avoid proposing 40 sqm holes at 180,000 euros because I will hardly rent at a high price and I will hardly get to amortize my investment in a short time. Instead, I will propose properties in Las Palmas, in Vecindario, Arinaga, Telde, etc., where the residency is high .

A note on Las Palmas: the city of Las Palmas as beautiful as it is and which I personally adore, attracts a “middle-poor” tourist, hardly in fact the Nordic, Finnish, Swedish, German etc.. with ample economic possibilities would rent for two months a property in the North where in winter the climate is quite different from the South…I would settle for young people, students, middle-aged couples, etc., who maybe stay in the North and then move by rental car to the beaches but my income will surely be lower without considering that in this period prices in Las Palmas are very high for properties of dubious value.

On the other hand, if finally, and this is my area of focus, you want to buy as an investment for the business of short term rentals, thus receiving tourists in your property with short-term vacation stays, I will have to necessarily search for a property in liquid and in-demand areas such as Puerto Rico, Campo Internacional, San Agustin, Playa del Inglès, avoiding Vecindario, Arinaga and vicinity where hardly the tourist of medium-high target would stay being purely in search of beaches and nightlife!

After all, if you buy and then entrust me with the management for short rent of your property, we have one interest in common : that the property yields! otherwise my work would be useless, you don’t earn you and reflexively I don’t earn!

But by liquid zones I mean areas where not just young or middle-aged people go but northern retirees who flee the cold and sky-high gas prices and stay here for one to three months spending exorbitant amounts of money for us but which for them is the norm or is less than they would spend staying at home in the freezing cold!

So to conclude, it is not enough to be a real estate agent to sell real estate the right way and it is not enough to want to buy a property on the island because I hear the islands are beautiful, you need to work with preparation and conscientiousness in your field and you need to Rely on SOMEONE COMPETENT who is not just aiming for the commission but has an interest in your investment being in line with your needs and being a good investment that will not make you regret choosing Gran Canaria to place your life savings and sweats!

In one article I read that it must be the prospective buyer who has to do the math on the annuity ….!!!?? but what does a person who lives elsewhere and maybe is a lawyer, engineer, charcuterie maker or any other job know about the annuities that real estate generates here, liquid areas, etc.? YOU NEED TO TRUST but do it the right way to avoid shenanigans.

What does a person who doesn’t do this work, OR DOESN’T DO IT IN A SERIOUS WAY, know about Explotación Turistica, about VPOs, about Complexes with debts or Healthy Complexes, about good. or bad Comunidad, about good or bad Complexes even if placed 100 meters from each other….no property is the same as another and you cannot know its profitability unless you are an industry specialist with specific experience in the short rental business and not a guru handyman who sells everything to everyone like “Amazon” as unfortunately there are many here on the island!

In short you have to live here and operate here for years if you really want to sell in a conscientious way and propose a great service and safe from risk …then everyone of his money does what he wants but I have told you mine!

May 15, 2023 Daniele Piccoli No Comments Real Estate Investments

INVESTING IN THE CANARY ISLANDS

In recent years, the Canary Islands have become a focus for thousands of Italian real estate investors looking for profitable opportunities. But why is investing in the Canary Islands so worthwhile? First of all, their proximity to Italy is a strong point, allowing investors to reach these islands in only a 4-hour flight. This proximity offers unique peace of mind to investors, as they can easily address any problems or needs that require their presence. Just think if you had purchased a property in the Caribbean and suddenly your presence was urgently required! Investing in the Canary Islands eliminates such worries by offering a convenient solution for real estate investment.

A crucial aspect to consider is safety: the islands offer an incredibly low crime rate, one of the lowest globally. This characteristic creates an atmosphere of serenity and tranquility that comes close to few other European destinations, providing residents and tourists with an unparalleled sense of security.

Last but not least, the climate of the Canary Islands is a key factor. Enjoying year-round sunshine, with light rainfall mainly concentrated in the northern areas and almost absent in the southern tourist areas, these islands offer ideal climatic conditions. Temperatures rarely fall below 18 degrees Celsius during the 12 months, reaching highs of 40 degrees Celsius during the summer. Thanks to this wonderful and pleasant climate, along with long golden beaches, fascinating mountain scenery, safety and affordable prices, the Canary Islands have become a destination of choice for thousands of tourists, especially from northern Europe. And where there is an influx of tourists, there is also a vibrant short-rental business. Therefore, real estate investors choose to purchase one or more properties in the Canaries to devote to tourist rentals.

“Renting an apartment in the Canary Islands to tourists offers numerous financial advantages. This form of investment ensures a continuous and profitable flow, protecting your funds from banking instabilities and financial market fluctuations. In addition, it is an opportunity to have an ideal vacation home or guesthouse for you and your family.

Investing in the short-term rental sector has many advantages over long-term rentals, especially in terms of payment security and control of the property. This choice gives you greater financial peace of mind and guaranteed returns over time.”

“Payment security is a key issue in apartments dedicated to short-term rentals for business purposes. In fact, only guests who make prepayment for their stay can enter such apartments and receive keys. This system provides owners with protection from possible non-payment, an unfortunately frequent situation in the long-term rental market that often results in legal proceedings to evict defaulting tenants. Tourist rental, on the other hand, offers a solution to all these problems: the contract is based on well-defined check-in and check-out dates and requires payment in advance.”

“In terms of control of the property, short-term rental does not imply a loss of control for the owner. In fact, the owner can continue to use the property and, when available, can also make improvements, monitor any issues, and maintain complete ownership without giving it up, unlike with long-term rentals. If you want to invest in a safe and risk-free business, short rentals in the Canary Islands are a great choice!”

May 12, 2023 Daniele Piccoli No Comments Short Term Rentals/Tourist Rentals, vivienda vacacional

MANAGEMENT VIVIENDA VACACIONAL

Running a vacation rental in Gran Canaria: Tips for a successful experience

Gran Canaria is one of the most popular tourist destinations in the world, with its combination of beautiful beaches, temperate climate and cultural richness. If you own a property on the island and have decided to run it as a vivienda vacacional (vacation home), you are on the right track to take advantage of the potential of the tourism market. In this article, we will explore some key tips to help you successfully manage your vivienda vacacional in Gran Canaria.

Comply with regulations: First of all, it is essential to understand the local regulations regarding the management of vacation rentals in Gran Canaria. Be sure to register your property with the proper authorities and obtain all necessary licenses. Complying with the law is essential to avoid penalties and to ensure the safety and satisfaction of your guests.
Prepare your property: To attract guests and get positive reviews, it is important that your vivienda vacacional is cozy and well equipped. Be sure to offer comfortable beds, a clean environment, and all essential appliances. Also provide extra amenities such as free Wi-Fi, cable TV, a washing machine, and a fully equipped kitchen. Consider adding little details like a local guide or tips on places to visit to make your guests’ experience even more enjoyable.
Develop a marketing strategy: To be successful in running a vivienda vacacional in Gran Canaria, you must actively promote your property. Create an eye-catching listing on popular online booking platforms such as Airbnb, Booking.com or VRBO. Use high-quality photos to best showcase your vacation rental and describe its unique features. Also, take advantage of social media and digital marketing platforms to reach a wider audience.
Provide a hospitable experience: As a vivienda vacacional owner, you need to make sure your guests feel welcome and supported during their stay. Respond promptly to their questions and requests, provide useful information about the area and what to do during their visit to Gran Canaria. You may also consider partnering with professional hospitality services to ensure a smooth experience for your guests.
Maintain high standards: The cleanliness and maintenance of your vivienda vacacional are critical to getting positive reviews and retaining your guests’ loyalty. Be sure to thoroughly clean the property between guests and promptly address any maintenance issues.

CLICK HERE AND FIND OUT HOW TO GET A VIVIENDA VACACIONAL LICENSE

May 11, 2023 Daniele Piccoli No Comments Short Term Rentals/Tourist Rentals

SUBLETTING PROPERTIES TO TOURISTS IN GRAN CANARIA

Learn about the rules and permits required to sublet property to tourists in Gran Canaria. Knowing the fees and responsibilities can help you make informed decisions about the short-term rental business.

Before starting this activity, it is important to know the rules, the required permits and the fiscal responsibilities involved. During a visit to the Las Palmas Tourism Office, I looked for information about this and want to share with you what I found out.

First, you can sublet a property to tourists if you are the tenant and have a regular lease. However, it is essential to obtain permission from the property owner to carry out this activity. Make sure that the authorization is included in the lease or in an Anexo thereof.

Per second thing you have to apply for the Vivienda Vacaciònal License. Don’t know what it is? Don’t know where to apply for it? Click on the link

When it comes to taxes, tax responsibilities vary depending on the type of rental. If you are subletting the property to tourists for short periods, the taxes on the income will be your responsibility as the tenant holding the license. On the other hand, if the rental is long-term (broad or medium temporada), the payment of taxes will be the responsibility of the property owner. Click on the link and find out the taxes you will have to pay in case of Introiti from short rent in Gran Canaria (Mod.030-400-210-420-425)

Although it sounds like a simple solution, in reality it can be difficult to find owners willing to allow this type of activity within their properties. They often prefer to avoid potential problems and would not reap additional financial benefits.

If you really want to invest in the short-term rental business, it may be worthwhile to purchase a property specifically dedicated to this activity. This way, you can run it profitably and legally, enjoying total freedom without having to account to third parties.

Investing in short-term rentals can be a lucrative opportunity, but it is essential to be informed about the local regulations, permits, and tax responsibilities involved. Before taking any action, be sure to consult the appropriate authorities and obtain the necessary permits to avoid future legal problems.

May 4, 2023 Daniele Piccoli No Comments Real Estate Agency in Gran Canaria

SERVICE AGENCIES IN THE CANARY ISLANDS

BE WARY OF ALL-YOU-CAN-DO AGENCIES IN GRAN CANARIA OFFERING REAL ESTATE – “GUARANTEED” INCOME INVESTMENTS – TRAVEL – RELOCATION – SCHOOL REGISTRATION – NIE – COMPANY OPENINGS – TAXATION – BITCOIN – MARKETING

Today I came across one of the many Blogs, Sites boh…I don’t know what to call it that deals with anything and everything…Buying a house in the Canary Islands? Enrollment School child? N.I.E.? Opening a company? Travel package? Pre-transfer package to the Canary Islands? Sure WE DO EVERYTHING as long as you pay for it!

But in what are you a professional if you do everything? How can you sell me a house maybe for investment (which is not the same as selling it to me to live in) by advising me on the best area, the non-explotado complex if you don’t DO JUST THAT?

You can’t do everything and do it professionally … it’s impossible!

And if you then ask me 200.00 euros to make a NIE that costs 10 euros, load 500 euros on a travel package without even having a Travel Agency license, how do you also sell me a property guaranteeing me a FIXED RETURN by enumerating nonexistent figures…?

But if you have a toothache go to the dentist or go to the gynecologist?????

Everyone has his own work and specialization in any business field, you can’t do everything for everyone means you don’t do anything as it should be done and the results (see complaints and various…) are not slow in coming but no one knows and they keep contacting you…poor unsuspecting people.

There are several reasons why relying on “handyman” agencies may not be the best choice in some contexts. Here are some reasons to consider:

Specific expertise: Relying on an agency that specializes in a particular field offers the advantage of working with professionals who are experienced and knowledgeable in that specific field. For example, a travel agency will have detailed knowledge about destinations, itineraries, airfares, and accommodations, while a real estate agency will have specific knowledge about the local real estate market. “Handyman” agencies may not have the same in-depth expertise in every area.
Updates and specific knowledge: Rules and regulations in different areas can change frequently. Specialized agencies are more likely to be constantly updated on these changes and adapt accordingly. “Handyman” agencies may not have the same attention to detail or specific knowledge of each industry.
Network of contacts: Specialized agencies often have an extensive network of contacts and collaborations within their field. These relationships can be invaluable in obtaining quality services and achieving better results. “Handyman” agencies may not have the same network of contacts or established relationships.
Flexibility and customization: Specialized agencies are able to offer customized and flexible solutions for their clients’ needs. Because they are focused on a specific area, they have the ability to better adapt to individual demands. In contrast, “all-inclusive” agencies may offer standardized solutions that may not fully meet individual needs.
Responsibility and limited liability: Relying on a specialized agency means that they are responsible for the services they offer in their specific area. In case of any problems or dissatisfaction, you can go directly to them for a solution. “Handyman” agencies may not offer the same level of specific accountability for each service.
Costs and competitive prices: It might seem that relying on an “all-hands-on-deck” agency is cost-effective, since you would be paying one provider for many different services. However, you might miss the opportunity to get the best prices and deals within each specific area. Specialized agencies often have access to preferential rates and negotiate based on their experience and volume of work.

In conclusion, specialized agencies offer a number of advantages that “all-hands-on-deck” agencies may not be able to provide

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Month: May 2023