Spain’s tourist figures have grown tremendously significant over the years. Tourists have been flocking into the location villa Costa Brava, especially in the month of June to September due to its best climate of the year. The province of Girona hit a record of 7.8 million tourists for both domestic and international flights and over 25.5 million overnight stays at registered accommodation. So why not take this opportunity to make an extra income from it? Holiday makers would definitely prefer a holiday home compared to overspending for a hotel room. Lately, it has been a preferred choice for tourists to book a villa or an apartment as it makes them feel at home, having all the necessities needed such as the kitchen to cook, the living roomto chill, lounge and if they are lucky enough, a private pool. The space is much bigger with an affordable fee. Platforms like Airbnb has become so popular these days and it is hassle free as it connects you directly to the renters.
Before you start renting out your villas, do your homework and get to know the dos and don’ts, the rules and regulations of the country, taxes that you have to pay, so that you will not get into trouble with the authorities.It is true that Costa Brava does not generate as much income as compared to Costa Blanca which has sunshine all year round but Costa Brava is no less a popular tourist attraction. In the year 2018, 52,000 cruise ship passengers were received at the Costa Brava cruise ports.
Holiday makers would usually look for cheaper rental rates swith good location and facilities offered. The more expensive and posh the property is, the lower the yields get. Examples of such areas are: L’Escala and Empuriabrava, where yields are about 4.8%.
Renting out properties in inland areas such as Figueres or Lloret de Mar would bring you higher yields as the properties there are cheaper. You can expect yields between 5.4% to 6.5%.
The National Government and their local communities sets the tax for the rental income. If you do not hold any residency in Spain, you are still liable to pay taxes, namely, Gravamen especial sobrebienesinmuebles de entidades no residentes, Impuestosobre la renta de no residentes and lastly, Impuestosobrebienesinmuebles.
It has been a growing trend for those holidaying with friends or family members to choose villas over the small area a hotel room can offer. It is true that there are risks in renting out your villa for holiday makers, potential problems such as plumbing issues, double booking of the property and so on. It would be a good move to spend slightly more to engage an agent from a reputable rental agency as they can react quickly and accordingly and does not need you to be there 24/7.
As much as you would like to avoid spending more money, purchasing an insurance policy for your property is advisable as it involves third party guests. You would definitely have an ease of mind knowing that the insurance will cover in cases where any accidents occur, damages done or due to any natural causes.
With the right information and knowledge of renting out your villas, it can remove the financial distress of owning a home overseas.
