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rental returns in Mojacar and Garrucha

Posted: Mon Jan 14, 2019 7:11am
4 replies181 views1 member subscribed
Paulh43

Posts: 9

1 helpful points

Location: Garrucha

Joined: 4 Oct 2015

Hi Everyone

I don't know if anyone knows or would be willing to share but I am interested in purchasing a property in Garrucha or Mojacar with a view to eventually retiring there.  In the meantime I would like to let it for holiday let.  I would only be able to visit and stay for about 4/5 weeks a year and probably would visit June/early July.  Is it feasible to let the remainder of the year and if so what sort of returns might I expect for say a two bed?  Is Garrucha or Mojacar the best location (I like both places though prefer Garrucha myself).

Paul  

Matthew

Posted: Sun Jan 20, 2019 8:52am

Matthew

Legendary helpful member

Posts: 2249

3362 helpful points

Location: Mojacar

Joined: 16 May 2018

Posted: Sun Jan 20, 2019 8:52am

Paul. You get out of something what you put into it. Rentals don't just appear at your door like sand blown in from the Sahara. You have got to do what any other property owner does i.e. hunt for rentals. You should have no problems during July/August. It's October - May is where you need earnings - Duh!

You can hand your property over to an agency; obviously your profits will be smaller, but you are just a passenger. But, for you it might be the best way to go. 

You can try renting out the place yourself to your friends/relations. Don't wait by your phone in anticipation of nice little earners.

You can advertise on whatever website or place ads in supermarkets etc. It will take time  to build up  clientele - I'm talking years. Your competitors are people (like me) who rent out their places. They are not going to give you insight into what they do; they have learnt the hard way and look after their clients like the Irish protected their own children in the 1950's.

Protect your investment and don't become another casualty.

Paulh43

Posted: Sun Jan 20, 2019 9:18am

Paulh43

Original Poster

Posts: 9

1 helpful points

Location: Garrucha

Joined: 4 Oct 2015

Posted: Sun Jan 20, 2019 9:18am

Thanks, as I say it is a stop gap measure until we retire.  Not looking to make a killing just to cover costs really .  If we could let some of July and August maybe at Easter, that would be great .  Do you recommend agents to manage ?

Paul 

Matthew

Posted: Sun Jan 20, 2019 10:07am

Matthew

Legendary helpful member

Posts: 2249

3362 helpful points

Location: Mojacar

Joined: 16 May 2018

Posted: Sun Jan 20, 2019 10:07am

If you can get an honest reliable person to meet and greet, clean, look after and who can get some rentals for you (10% commission), I reckon you will cover most costs and earn more.

If not, then an agency is the way to go.

Paulh43

Posted: Sun Jan 20, 2019 3:21pm

Paulh43

Original Poster

Posts: 9

1 helpful points

Location: Garrucha

Joined: 4 Oct 2015

Posted: Sun Jan 20, 2019 3:21pm

Thank you for all your help I really appreciate all the replies.

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