Renting before you buy - it's always an option

If you are at all unsure about the move, location or property then renting for a while is an option. It allows you to test the water if you can before you make a long-term commitment to moving to Spain and this could also save you in terms of both money and emotional trauma.

In Spain buying property really is a long term investment. If you are buying short term, lets say for only a couple of years, then renting really may be a better option. Property prices are increasing at a much slower rate at the moment if at all and the high costs and taxes associated with buying in Spain mean that when you sell you will probably only recover the costs you incurred when you bought in the first place (unless of course you are lucky or perhaps have improved the property substantially, another scenario).

Capital gains tax can also take a large chunk out any profit made on a second home, especially if you are not a resident and not thinking of buying again. Add to this that the property may not be your main residence and you may have to seriously consider renting as an option.

The best way of starting to look for a rental is by reading the classified sections of local newspapers or by going to a local estate agents or visiting the property section of my site. There are many rental properties on line and some travel agents also offer deals on rentals. The disadvantage of going to an estate agent is that you may be expected to pay them the equivalent of one months rent if they offer you a property you like. Some are paid this month’s rental by the owner - it just depends on each case so just be aware.

Always ensure that there is a valid, written contract/agreement and It is advisable to have a local legal representative draw up the agreement for you. This should clearly state who is responsible for payments for utilities ie electricity, gas water and telephone etc, This is normally the tenant unless it’s a short-term let and the landlord is normally responsible for all other costs i.e. wear and tear.

The following seems to be common practice but always seek professional advice in any case

A contract is normally for 11 months; within the contract there is often a clause that states that the tenants are only using the property for temporary accommodation. As I stated this is common practice and fairly safe. The tenants are actually admitting knowledge of the temporary basis of the letting.

The problem with this maybe if you wanted a longer term, is that you may have to move, so just make sure you are a model tenant and with the amount of rentals on the market they will then want you as much as you want them.

I can help by putting you in touch with rentals some of which are on my site... all part of the service, I do not charge any commission on top of the rental you pay to the owner for this, I work on the basis that you will come back if and or when you are ready to buy... if you think this is too good to be true, there is a method and it has worked very well so far...