Advice on running costs as we look to buy an apartment in Mojacar

Hi,

We.have a 3 BR so.here are our costs-

Telplay wi fi. 33€ pcm. We have a Brit smartphone & a Spanish PAYG but usually use Whatsapp or Facebook.on Smartphone.

Water 20€ each 2'months

Elec about same as you balanced.thru year. Gas heater in.winter not elec or reverse AC.

Fees €128 / qtr

Bins €35/ qtr

We are resident. Someone just.posted about non-resident tax within last 10 posts.

IBI no idea.

So there's apt & contents insurance and ours is about €200'with Liberty Seguros.

If you have a vehicle there will be.maintenance + Insurance+ ITV ( depends.on.age)+ ,Annual Road Tax.

Hope that helps and apologies if missed anything.

Season's Greetings,

Bob and Sandra

Mojacar Playa and Puerto Lumbreras

You've got the ballpark costs about right. Maintenance costs with wear and tear depending on how long you rent the apartment out. Tenants tend to leave the water boiler turned on 24/7 (electricity price surges). Tenants tend to keep the airconditioning on as much as possible even when they are out. How could they be expected to return to an apartment that is too humid? When they return they leave the aircon on high, but open windows and doors as the place has become too cold. A kindly neighbour informs them that they are abusing the electricity costs but the inevitable reply comes "We're paying enough to rent the apartment . . . " Keep the telephone number of electrical goods repairman near as the door of the washing machine gets wrenched from its bolts more often than you think.

Your saviour is the lady who cleans your apartment while you're away. She is the only connect with the tenants and you. Tenants usually listen to this lady. 

If you rent the apartment be prepared to change the external locks at least once in two years (€100 minimum per lock if using professional services). However, one of your neighbours (in the same boat as you) might agree to swop locks and keys with you and do the job together (a good option).

Mattresses;- Don't skimp, replace every two years at least. If you're renting in July/August you'll fast discover why.

Double Glazed "rear" door:- You'll need a professional to fix the handle every two years.

Bed Cotton/pillows/duvets:- Replace every springtime - just do it!

Floor Tiles:- Some will need replacing every year (usually about the first week of September) as they usually succumb to parasols/glasses/beerbottles/winebottles hopping off them. You don't want winter/spring rains forming a Loch Ness lake on the waterproof membrane. Believe me if the membrane becomes cracked you'll wish you had only to deal with a monster.

Painting Internally:- You need to get it done every three years.

Painting Externally:- Just the the additional €500 every three years to the Community. Don't even think of doing it yourself as you'll be looked on as the greatest scrounger since Scrooge.

Electric glass hob is a risk. Fridge/Freezer will need replacing every 3 years (depending on rentals). You'll need at least two electric kettles per year. Forget about the plastic kettles.

Towels:- Buy new ones every year. Don't argue, just do it!

And . . . most important . . . . pay the lady who cleans the apartment more than she asks.

And . . . look after her partner/husband too.

And . . . if you wish to question any of the foregoing . . . just Get Over It!

Hi 

All good advice. We purchased an ex rental.but gratefully.it was a Brit owner & he was a bit OCD. Actually we don't rent but have seen the damage done by renters to other apts. Especially when groups.

We paint externally every 2 years at least as most owners on ours are Spanish and every AGM they vote against the additional cost of painting.

We found we had a lockbox already fitted to the wall next to apt door with keypad. Set of keys inside & you give renters code so access if they get in at some ungodly hour.

Remember that legally you have to notify the  Ayuntamiento that your property is Rental and pay tax on rental income. If you e mail----- [email protected] and ask the staff they will send you the rules & regs about heating, cooling, lighting, etc. Of course many owners are illegal renters but they are fined if reported.

Even with just family we have needed to replace washing machine door handle x 1, the electric water heater x 1, and the door lock on taking possession as who knows how many keys were out there??????!!!!!!.

So you need emergency numbers for AC, Electrician, plumber, Glazier ( drunk family member locked themselves on terrace and decided to smash glass patio door- now no one occupies when we are not there), & others.

You can ask for advice on the forum but get a copy of The Almeria Focus Magazine and Directory, free monthly & on line, with all tradesmen, etc.

You need lockable storage space.

Notify Insurance Company you are renting.

Lastly. & unrelated, if you are buying cash and from a Brit, then consider a CHAPS TRANSFER. UK BANK TO UK BANK for 90% of purchase price. We did and saved £100s on fees, etc.

Hope.all that helps,

Bob

Oh .BAH HUMBUG. Scrooge indeed LOL.

We stayed in varied accommodations, mostly brilliant, for our many visits while searching for (and now renovation of finally- found- property).  It has given us useful insights into future letting solutions.

One had a separate meter electricity for guests.  There was a starter amount already , then we had to put in 2 euro coins, depending on how much heating etc we needed.  It was really irritating trawling for the correct coins in shops, but if a  supply of correct coins was made easily available, what do you think of this solution?  Those wanting to spend the day/night outside the accommodation could save, while those relaxing in the cool/ warm would need to spend more?  The overall cost of the rent would appear smaller so the property more desirable, though it would be essential to put this in the details so people knew what they were getting before they committed ( annoyingly not done in that one we visited!).

Hi David 

We have been renting our Mojacar apartment out for the last 12 months its a 2 bed 1 bathroom and our experience is much different to some of the previous replies.

In 12 months we have only had to replace one shower head  and one pillowcase.

We use devices that limit the temperature and the run time on the AC units to prevent unnecessary over use by guests.

Our community fees cover a full repaint of the whole building every 2 years.

We live close to Mojacar so we do the cleaning ourselves. Most people leave the apartment reasonably clean so it takes us about 3 hours to do a thorough change over clean. 

We have only had one guest that left it very dirty. 

We keep a record of all guests and any that cause/leave problems get blacklisted and are no accepted again.

GOLDEN RULE: Use a reputable agent to handle your rentals and although this has a cost it will pay dividends as they vet all guests to avoid the all male, all female and under 30 year old groups that tend not to be respectful guests, they do the meet and greet, they hold a security deposit against damage and breakages and deal with any problems for you.

If you would like details of the agent we use please send me a PM and I will advise.

Dear all. Wow - thanks to everyone who contributed to these responses. So, so helpful to us as this is new to us. I'll keep watching for more responses. I'm sure I will have other posts coming up soon too.

We are ready to make the move but wondering whether to wait for the parliament brexit vote in a couple of weeks time to see what happens to the exchange rate as so unpredictable right now! We want to get started though!

1. Don't leave Brexit put you off. If you wish to move, then move. Brexit ain't goin' to change the weather in Mojacar. Boris has limited powers, you know.

2. A coinbox to save on electricity. Forget about it. Even when tenants know in advance, this is an irritating solution to a potentially irritating problem. However, other "non coinbox" apartment owners will advise you to go ahead while they won't. It's easier to rent an apartment with open electricity.Duh!

3. I am a fly fisherman (fresh water). I have yet to meet another fisherman who on discovering a good fish yielding section of river will inform others. It's the same with holiday property owners; they learned the hard way and won't make life easier for a competitor. Think about it, why should they? The secret on renting out a property is to ensure you get repeat business from as many as possible. You know your tenants, you save on advertising, you have peace of mind. You can take it you have been warned by an experienced Paddy. A coinbox will ensure you don't get repeat business. Don't believe anybody who informs you otherwise.

4. While I'm on a roll . . . there's the guy who says "I just rent out the apartment to cover expenses" probably the biggest lie in the Costas and beats the great lie "Someday, dad, I'll pay you back" by miles. You rent out your place to try and make a profit. If you have any other reason you're deluding yourself. So, don't even think about being deluded by others.

You've just got good advice that you wouldn't have a hope of exacting from most of your countrymen in the same position. You will have no difficulty renting your place during June/July/August. But, November, January, February, March, April, first half of May can be lean. If you can get somebody to rent during these months love him, cherish him and even beg for repeat business - more free advice you're getting from a talkative Paddy.

Hi,

If you yourselves were moving out permanently then I would advise waiting until everything is cut and dried. However as it appears that this is more likely to be a holiday home then don't really see a problem.

A small caveat; the 90 day rule for the Schengen zone may put off long term renters & if it's a Hard Brexit (whatever that means) we may see a sell off by even more Brits & property prices will slump yet again. We purchased our apt in 2013 & a property that had sold in 2003 for 250,000€ we purchased for 91,000€. Neighbours above purchased a 2BR in 2006 for 175,000€ & sold off for 85,000€. 

However, you are still young & property should be looked at long term.

Best Wishes,

Bob and Sandra

Wow, you are a tough lot in Spain!  I rented out  apartments in  complexes (what you would call urbanisations) near M'Diq, the other side of the water for ten years , before selling to buy in Spain ( found Arabic a steep hill, Spanish is much easier!). My experience was so different to yours.

I never had one chipped floor tile, or  damaged mattress, I refreshed the linen from time to time with the odd extra item  and replaced some faded curtains, upgraded fridges I think and I think bought one new washing machine. I do not recall anything large being broken by guests, apart from the odd inevitable china/glass breakage, and radios disappeared from time to time. My guests were more than half Moroccans (mostly ex-pats on holiday) and then Spanish , American, English etc- like Spain, full to bursting in Summer months, fewer at other times, lots of return guests and v high rating on airbnb.

When two guests wanted the same dates we passed one on to another owner in the complex and vice versa, it worked really well, and extended families asked about  having nearby flats. Of course we all thought our own flat was the nicest but we  helped each other, lent a cot, swapped tips, checked each other's property when visiting Morocco at different times etc.

Perhaps there is more of a drinking culture among your guests- alcohol is available to non- Muslims in Morocco but it is not a destination for boozers? My guests were mostly families and I tried to make the flats really nice which they seemed to appreciate and respect.  I was expecting Spain to be easier than Morocco (much better flights etc), now you have got me worried!