Latest update on rentals

[woe10]

The petition is about "softening" the impact of the Decreto which does not allow letting of property within a Tourist Zone. This will seriously impact the economy of the Island(s)
and leave many people with serious financial problems.  I am sure if the restrictions are lifted, then the Tax Man will appear on the horizon as well he should.  But at present the situation is ludicrous for those who bought with the intention of letting to cover costs, and who cannot legally do so.

Dis-honest estate agents and programs like "Place In The Sun" are to blame for misleading people into thinking they can buy a place, then make their fortune by renting it out for unrealistic sums of money.

Spike is correct. Anybody who finds themselves out of pocket due to this situation, without prior due diligence, only have themselves to blame. Es la vida 

[Spike On Q]

The "plonker" is only telling it as it is - sorry if it offends but them's the facts and an personal insult is unnecessary

[Spike On Q]

What has the government or the legal profession got to do with this. As Woe says, you carry out due diligence, make a decision on the facts, instruct your legal representative [or not], complete the transaction within the law of the land, accept the consequences. End of story

[Ivemovedon]

What a load of self serving rubbish...
If you are mis-sold a property you are mis-sold it. All the research in the world is not going to help you if there is a conspiracy, which includes your own legal representative, to withhold vital information or even to actively distort it. Thats why you employ and pay good money to a Spanish solicitor. For the very reason you don't speak the language and need assistance. If we could all research the Spanish legal minefield ourselves there would be no need to pay over inflated conveyancing fees. How can you make an informed decision on facts you don't have? 

You aren't telling it as it is. You are telling it how you think it should have been.  Same old tired ex pats with the same old blinkered attitude.

[Spike On Q]

Who mis sold you the property, the estate agent I guess,  and you believed everything they told you. Did you tell the lawyer you were starting a holiday let rental business and and ask him what were the legal implications. Did you employ an assessoria to deal with the financial side of the business and the taxation matters, did you approach the Community and ask questions there?.

You've only got to have logged onto this forum over the past few years for the alarm bells to have started ringing.

OR you could have asked some simple questions and got the answers here.

People seem blinded by the thrill of buying a holiday retreat and don't stop and think. There are also people who have bought knowing full well they are not supposed to let but "will get away with it"

Believe me, it is as it is. It will not change

But anyway enough of the UK blame culture, remember the tragedy of the small child drowned in a hotel pool, who's to blame,  why the hotel of course.  Lets move on

[Ivemovedon]

What do you employ a very costly solicitor for?. To tell you the weather?. Or to tell you the pros and cons of your purchase?. You don't go on a forum thats for sure. And you certainly don't take legal decisions or business advice from anything you hear on a forum. Now that would be madness. If i had i'd probably be banged up or bankrupt by now along with a few others. 

we might be able to move on .Theres probably quite a few over the next couple of years who would like to move on but can't.

And that swimming pool. Yes it was the hotels fault if the proper safety regulations weren't in place. And that includes failure to provide information  . Remind you of something?

[isleswing]

First search result on Google, after the paid-for ads is
https://www.gov.uk/how-to-buy-property-in-spain

Produced by HM Government, specifically to protect British citizens from bad deals abroad.

Very comprehensive, covering all aspects of purchase and moving.

[Ivemovedon]

Yes and very informative it is too.

Pity it was only first published on 22nd March 2013 though. Not much help to anyone buying 15 years ago especially regards the rental aspect. Perhaps something similar was around then though, ..i have no idea. I read a book by David Hampshire before i bought called 'Buying a home abroad'. It gave much the same information.Rental advice was a bit sketchy and it most definately didn't say that Estate agents are not policed in the Canaries so they can lie at will without any interference from the authorities.

Still.... lets move on , no harm done.

[Elite of the forum]

Dont get me going on Solicitors ,took money off me didnt do half the things said they would do,no water set up (turned it on myself ) ,said set community fees up Nope,managed to set the electricity bills up in wifes name even thought she has no NIE number ,we also have a joint bank account and joint Mortgage  with only one Nie number,but not sure if this is ok but things are running smoothly now ,oh the joys of the spanish legal system

[Tamkid]

I have written to the Pope tonight and asked if he would consider making Woe and Spike Saints. I have never met anyone in any ex-pat pub I drink in (which is many), that think the same as them. They are truly  a breath of fresh air, so honest and steadfast, examples to us all, god bless them, and god bless every Spanish Estate Agent and Solicitor for their honesty. All these years I have been thinking the latter were a bunch of robbing bsards, when in truth, I should have known it was my stupidity and naivety, thank you both for pointing that out. 

[Spike On Q]

Thank goodness estate agents in the UK are honest and truthful. I didn't know there were  UK governmental controls on their business practices, you learn something every day  - if you do enough research, like listening to the wonderful contributors here

Why you don't count your losses and go home, do you really think you will get your money back, even in the long run,   you would be so much happier,    then you could drink in proper English pubs not counterfeit bars sometimes run by foreigners!

[Spike On Q]

PS  about the pool, a sign for parents. YOU ARE RESPONSIBLE FOR YOUR CHILDREN. ENSURE AT LEAST ONE PARENT ATTENDS TO THE CHILD AT ALL TIMES ESPECIALLY IN DANGEROUS AREAS LIKE ROADS, BEACHES AND SWIMMING POOLS.  Does that help, it might save a childs life if modern parents are unaware of their responsibilities?

[Spike On Q]

PPS  What did the Pope say?

[Elite of the forum]

Feck off ya immigrants  i think is what he said

[Ivemovedon]

Not too hard to see why spike on Q has cornered the market in receiving personal insults.

Even the Pope's at it.

[woe10]

Feck off ya immigrants  i think is what he said

The Pope's an immigrant. He's from Argentina 

[Spike On Q]

And this weeks bubble competition:

[IsThisForumStillGoingWow]

I don't click on those virusy links thanks.

[fifi]

I received an email from Goldacre advertising a beautiful new complex in Corralejo. In it he states that it is a great investment opportunity because it is the ONLY complex on the Island being sold which can legally do short time holiday lets.

                                                                   INVESTMENT OPPORTUNITY



Developer announces first price increase for Casilla de Costa of a minimum of 10% from September 2015.



Property prices are on the move and with the first price increase of a minimum of 10% announced by the developer taking place from the 1st September 2015, now really is the perfect time to buy on this Innovative, stylish and unique development at the developers first released prices.



Casilla De Costa is a stunning New Development situated in one of the most unique areas in the North of Fuerteventura between Corralejo and Villaverde. With views to Lanzarote, El Cotillo and Lajares this prime location ensures breath taking views in an area of natural beauty.



The famous ‘Dunas` area of Corralejo, which is an area of natural outstanding beauty, was recently named in the top 25 beaches in the world by National Geographical.



The unique opportunity of the whole area is to set a standard in Fuerteventura for one of the best designed and constructed areas on the Island.  What else makes this development unique? Innovative style, Eco friendly and with short term holiday lets permitted for this development   unlike anywhere else in the Canaries, this development is truly special. Prices start from only 105,000â,¬. Please note these first release launch prices can only be offered until 31st August 2015.

Personally I can not see ASCAV managing to soften the urban laws much. Short term rentals were never allowed on residential sites. All the change in Urban Law has done is to regulate the existing law really. Worth a try though. The way things stand at the moment is completely compliant with EU and Spanish law.

[Tamkid]

Unbelievable, yet very believable. I can remember him forgetting to mention to me that it was illegal to rent out my property as a short term holiday let when he sold it to me. That's in the days when he worked as a salesman for the now defunct Interealty. Thanks for the info FiFi, always welcome.

[Archer]

Is this one of the Agents who were part of the problem, now claiming to be part of the solution? Incredible!
And what a load of nonsense claiming to be the only tourist licenced property.
Add to that, including the usual agent speak - 'buy quickly or the price will go up'.
Just look at the bank websites, as I've said before. These are the best bell-weather of market conditions. Some reductions this week of 60%+ .
Don't listen to this hype. Buy, but with caution, is my advice.

[woe10]

"A Fool and his money is easily parted" .................  There's plenty of them 

[Ivemovedon]

You expect estate agents to be economical with the truth . I'd expect it in the UK or anywhere else in the world.. They are out to make money and have no reason to worry about the responsibility of their actions. Don't blame them. Or a place in the sun come to that,, they are out to attract viewers end of, and the added bonus of a 'sale' whatever it takes just bumps up the viewing totals. Responibility ends with pleasing the top nobs on channel 4 etc.
The real rascals are those who should have had the purchasers interests at heart and who ended up not challenging or prosecuting the mis-sellers. Yeah i know i keep on about it but its the truth and i hate the fact they got away with it.

Fools and their money are easily parted thats true. Its an even easier parting when they get none of the vital information or help from those whose duty it is to provide it.

[Tamkid]

I dont regret for a minute buying my property Fuerter, and I'm glad it was on Tamaragua. Ive have had a great time over the years, and whats money at the end of the day, its a lifestyle and happiness that counts. I think the Spanish are a brilliant people with a great culture and attitude to life.  So what if it wasn't everything the Estate Agent promised, at the back of your mind, if your honest with yourself, you know he/she is waffling to get the sale,its his/her job, its your job to see how much they are waffling. If you worry to much you would never take the plunge, you just get on with it or NEVER find out what you have missed. After all, any property you live in is just "Borrowed Space".

Like every wrinkly, I moan (not quite as much as Woe or Spike) but that's part of the enjoyment of being an old frat. 

[Ivemovedon]

I've always thought Tamaragua's biggest asset was its location. Slap bang in the middle of villaverde, Lajares and Corralejo. Not too sure about the actual developement myself but i've not heard one person who lives there ever run it down. Always good reports, so it must have a fair bit going for it.

I agree anyone not having to rent, particularly for retirees, its a grand place to be. But i was always led to believe that first and foremost it's a holiday destination. So who should have to fit in with who?. Who brings most to the islands economy?. Trouble is when you regard your retirement home as your own personal bit of paradise, the longer you have been there it must become harder and harder to accept that tourists are there to uncaringly use the place to the maximum for 1 or 2 weeks then move on. So coop all the holidaymakers up in A/I hotels and hope they never leave the premises would seem the ideal solution for some. The island though needs a thriving private rental industry especially in the smaller places not just to survive but to compete with all the other winter holiday destinations.

[MLA]

Are Holiday Rentals Legal In Spain?

http://www.spanishpropertyinsight.com/2015/06/12/are-holiday-rentals-legal-in-spain/?utm_source=Spanish+Property+Insight+News+Bulletin&utm_campaign=5a2d0dfa3b-SPI_NB_2304144_23_2014&utm_medium=email&utm_term=0_5c1bbc37e8-5a2d0dfa3b-137984005

[thomo]

This  is taken from Janet Anscombe's blog, any body thinking of buying to let or who is letting should read this blog not to do so would be asking for trouble.
http://www.janetanscombe.com

People report them as well … only yesterday I came across an instance of fines being issued because of a denuncia. It takes the inspectorate time to deal with denuncias because they have their own investigations ongoing, but they always get around to complaints form cheesed-off neighbours or holidaymakers in the end.

And now, of course, they have a regulation giving them the option of issuing fines for a specific, and relevant, purpose â€" they no longer have to fall back on “no complaints book” (which residential properties couldn`t have anyway). And whereas the “no complaints book” fines were in the middle of the “grave” range, i.e. 18,000â,¬, the new fines â€" at least in residential areas â€" will be for VV regulation infractions, and therefore in the “muy grave” range, of 30,000 â€" 300,000â,¬.

I think it`s important to note that whilst they can no longer fine JUST on the basis of an internet advert, it can still be a starting point for an enquiry, and they do not need to knock on doors â€" if there`s no answer, a signed statement from an identified (and so legal) neighbour, holidaymaker or president, or the like, will be sufficient.

Given that there are at least 643 people in Caleta alone  still advertising on the internet the income from fines could be â,¬19,290000 and as it will be money from fines it will all stay on the island, as opposed to Tax   which goes to Madrid and a percentage gets sent back, any new inspectors taken on to deal with this will certainly be self financing.

[Ivemovedon]

20m euros is chicken feed. That will last as long as the next failed project, if that. And what happens after the fines have all been paid and theres no one left to target ?. Not a lot i'd say. No income either locally or to Madrid.

They need to look at renting as a long term business income. Give out the licenses where appropriate, force them to legalise. Sit back and watch the dinero from the taxes and annual license renewals roll in, not just for a couple of years but year in year out.

[chrisandco]

"Casillas De Costa" is 10km inland from Corralejo, on the road to Villaverde.
It was originally laid out, 10 years ago, to be a commercial estate. Like a lot of other things, it never was completed.
There were other developments which started around that time (La Oliva Golf is one that springs to mind) that buyers put deposits on but was never finished. I see that they are offering 70% mortgages on this one as well, so no lessons have been learned.
I suppose that they can say that holiday letting is allowed because it is not in a designated tourist zone. Maybe, this completely misses the point. Generally, people want to stay in locations on or near the coast. There will always be some who want a "rural retreat", but not that many.
Surely, it would make more sense to invest in finishing the projects that have already been started in the touristic zone, rather than a large (300) property development in a rural area. Anyone who invests in this, expecting a profitable return, needs to think again.

[Tamkid]

I have a friend who lost 150,000 euros on the La Oliva Golf. Agree with everything you say, they spent a fortune of updating Corralejo main drag to fetch it up to 5 star status, yet there has been a major eyesore for as many years as I can remember in the shape of a "Abandoned Half Finished Hotel" as you enter the outskirts of the town.
Not to mention the "Lap Dancing Brothel" at the top of the main drag, standing out like a sore thumb.I can only assume the Gardia have shares in the latter.