Hello,
We are still contemplating about what to buy. Ideally, we wanted to buy a holiday letting flat. Let it out for the most of the year (if we can achieve that) and spend there 5-6 weeks each year with our family. When I check the properties for sale they do not specify if the flat has got a licence to let. So, I find it difficult to plan the viewings.
Do you have any advice on how to find out if the flat has a holiday letting licence? Can you please also recommend some good companies to manage the property whilst we are in The UK?
Many thanks for your thoughts as usual,
Viktar
Hi Viktar
Before you go any further I suggest you read Janet Anscombe's website; this is the first post on her Q & A on illegal letting:
Q: What is the actual law on renting out your own property?
A: The law as it stands is very straightforward. Owners may not privately let for holidays under any circumstances. If the property is a tourist one – on a complex with a tourist licence – they may rent out for holidays but only through the on-site sole agent. If the property is a residential one, it may not be let for holidays at all. Either category of property may be let "residentially", i.e. on a short- or long-term contract provided that it is for a minimum of three months.
http://www.janetanscombe.com/# (http://www.janetanscombe.com/#)
This may be unfair to some Estate Agents, but, don't believe a word they tell you with regards to letting out your property for holiday lets! So, you're probably looking for an apartment for sale on a tourist complex - you'll need to speak to the on-site management regarding the tourist licence and how they manage the lettings of privately owned apartments on the complex.
Good luck - let us know how you get on!
ps. there was an item in the news the other day regarding a possible review of the lettings situation, but don't hold your breath!
Short answer - there are no touristic letting licences. They don't exist. You can't let out for short periods (extended residential lets can be done).
So the island is closed for business then? Considering half the tourists here are on a 1/2 week self catering holiday they had better get the Licences issue sorted out or the economy will go into melt down..
It already is going into meltdown. Of the 9 or so houses in our road at least 6 are up for sale. I wonder why?
no more response from happy VZ then.
Probably another one come to the conclusion Fuerteventura might not be the best place for investing in property. Apart from the OAP's last man out turn off the light....