Hello Foxy and Ria...from another island dweller!
hope you'll both stay around!
Mousie
x
Canary Islands
Hi Ria,
Everyone seems to have their own favourite rental websites that work for them. My personal choices are www.holidaylettings.co.uk and www.ownersdirect.co.uk, but just chat to people on here and see what they say, they are a very well informed bunch!
Your own website is really important now: let me know if you have any help in that department.
Everyone seems to have their own favourite rental websites that work for them. My personal choices are www.holidaylettings.co.uk and www.ownersdirect.co.uk, but just chat to people on here and see what they say, they are a very well informed bunch!
Your own website is really important now: let me know if you have any help in that department.-
Fuerte
- Posts: 21
- Joined: Wed Feb 11, 2009 10:43 am
- Location: Canary Islands - Fuerteventura
- Contact:
Hi all
I am another island dweller from Fuerteventura.
The more the merrier I say
I am another island dweller from Fuerteventura.
The more the merrier I say
Apartment Fuerteventura - Luxury Apartment in Fuerteventura
Good to see a few more from Fuerteventura. Have any of you noticed any difference since Ryanair stopped flying to fuerte. Most of my rentals use Thomas Cook but a few of my neighbours are feeling a difference.
Anne
http://www.ownersdirect.co.uk/canaries/c1641.htm
Anne
http://www.ownersdirect.co.uk/canaries/c1641.htm
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Fuerte
- Posts: 21
- Joined: Wed Feb 11, 2009 10:43 am
- Location: Canary Islands - Fuerteventura
- Contact:
Hi Anne
We were bound to find a differance when Ryan Air left the building but am a great believer that there was life before and will be life after! ? !
With the new airport extension opening the airport will be gathering as many air carriers as possible to make the airport profitable?
Yes it is lean times at the moment for some but it is time to make the cream rise to the top and ensure you are the best?
Some think that every one will come running to you when in reality you have to make sure they know about you?
Good luck for the coming year
We were bound to find a differance when Ryan Air left the building but am a great believer that there was life before and will be life after! ? !
With the new airport extension opening the airport will be gathering as many air carriers as possible to make the airport profitable?
Yes it is lean times at the moment for some but it is time to make the cream rise to the top and ensure you are the best?
Some think that every one will come running to you when in reality you have to make sure they know about you?
Good luck for the coming year
Apartment Fuerteventura - Luxury Apartment in Fuerteventura
Hello fellow islanders
I have been a member on here for quite a while but havent posted very often, although I do try to read some of the threads when possible.
I have 2 holiday apartments in Tenerife, one in Costa Adeje and the other in Los Cristianos and have been visiting Tenerife for over 20 years now, as an owner for around 11 years.
I have found the best site for me has, without a doubt been Holiday Rentals, frustrating as their site may be.
A personal website is also very important I would have thought.
Since starting out I forget how much easier it is to reach guests nowadays! I know there is plenty of competition with all the holiday websites but ten years ago it used to be adverts in The Lady, local papers, Daltons Weekly etc, all very time consuming and expensive. Thank goodness for the internet.
So, Ria, if you need any help at all with anything just let me know.
I have been a member on here for quite a while but havent posted very often, although I do try to read some of the threads when possible.
I have 2 holiday apartments in Tenerife, one in Costa Adeje and the other in Los Cristianos and have been visiting Tenerife for over 20 years now, as an owner for around 11 years.
I have found the best site for me has, without a doubt been Holiday Rentals, frustrating as their site may be.
A personal website is also very important I would have thought.
Since starting out I forget how much easier it is to reach guests nowadays! I know there is plenty of competition with all the holiday websites but ten years ago it used to be adverts in The Lady, local papers, Daltons Weekly etc, all very time consuming and expensive. Thank goodness for the internet.
So, Ria, if you need any help at all with anything just let me know.
A belated 'hello' from Lanzarote!
I used to do holiday rentals but now it's mainly long lets. I advertise locally in Lanz (generally in the Lanzarote Gazette, which most English speakers read) and use letting agents.
I also advertise on the Espana Breaks site, in the Long Lets section. Despite specifically stating that a minimum let is 3 months (and priced accordingly) most of my responses come from people wanting a month or six weeks! I must have the '3 months tenancy' bit too far down on my page.........
I used to do holiday rentals but now it's mainly long lets. I advertise locally in Lanz (generally in the Lanzarote Gazette, which most English speakers read) and use letting agents.
I also advertise on the Espana Breaks site, in the Long Lets section. Despite specifically stating that a minimum let is 3 months (and priced accordingly) most of my responses come from people wanting a month or six weeks! I must have the '3 months tenancy' bit too far down on my page.........
Hi, I'm off to Lanzarote in 2 weeks to put my deposit down on an apartment and 'get the ball rolling'. It's been 2 years of searching, with several ups and downs, but finally it looks like it's all coming together (fingers crossed).
Does anyone know what the exchange rate is at the moment on Lanzarote please? Must be better than the measly 1.04 at my UK post office!!
Does anyone know what the exchange rate is at the moment on Lanzarote please? Must be better than the measly 1.04 at my UK post office!!
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Ben McNevis
- Posts: 846
- Joined: Mon May 15, 2006 10:07 am
- Location: Scotland (for) The Brave
- Contact:
Hi Wendiew!
Today, the interbank rate is 1.13 euros per pound. You should be able to get to within 2% of that for a large transaction. Banks don't give the keenest rates though. Foreign exchange companies usually offer the best rates but beware: in the UK, they are not regulated. OK, they will tell you that they are regulated by the FSA but their regulation only goes as far as forcing them to apply money-laundering regulations. They are not regulated in the sense of consumer protection - so if the firm goes bust while it holds your money, you are an unsecured creditor! That said, the reputable ones don't go bust very often.
Are you intending to offer your new property as a holiday let? As you're on this forum it seems to be likely. I don't like throwing spanners in works but there is something that you should be aware of before you are committed. Maybe you are aware already but just in case, here goes:
The "Lettings law" (ley 7/1995) is a Canarian regional law which sets out to prevent individual owners from letting their properties to holidaymakers. There is quite a bit written about it on the web. In summary, apartments can only be offered to holidaymakers if they are on a complex with a touristic licence and are operated by a registered tourism company which operates at least 50% of the apartments on the complex. For new complexes the operator must operate 100% of the apartments. The law has been operational since 2001 and has been largely ignored. This year there are many signs that it is being enforced and as a result, we are now only taking long-term tenants.
Four-armed is said to be better than four-legged!
Today, the interbank rate is 1.13 euros per pound. You should be able to get to within 2% of that for a large transaction. Banks don't give the keenest rates though. Foreign exchange companies usually offer the best rates but beware: in the UK, they are not regulated. OK, they will tell you that they are regulated by the FSA but their regulation only goes as far as forcing them to apply money-laundering regulations. They are not regulated in the sense of consumer protection - so if the firm goes bust while it holds your money, you are an unsecured creditor! That said, the reputable ones don't go bust very often.
Are you intending to offer your new property as a holiday let? As you're on this forum it seems to be likely. I don't like throwing spanners in works but there is something that you should be aware of before you are committed. Maybe you are aware already but just in case, here goes:
The "Lettings law" (ley 7/1995) is a Canarian regional law which sets out to prevent individual owners from letting their properties to holidaymakers. There is quite a bit written about it on the web. In summary, apartments can only be offered to holidaymakers if they are on a complex with a touristic licence and are operated by a registered tourism company which operates at least 50% of the apartments on the complex. For new complexes the operator must operate 100% of the apartments. The law has been operational since 2001 and has been largely ignored. This year there are many signs that it is being enforced and as a result, we are now only taking long-term tenants.
Four-armed is said to be better than four-legged!
Cheers, Ben
www . scotland-cottage.com www . scottish-cottage.com
Visiting Glenrothes? It's one of your Fife-a-day
www . scotland-cottage.com www . scottish-cottage.com
Visiting Glenrothes? It's one of your Fife-a-day
Hi Ben,
Many thanks for your reply and the info which is very much appreciated.
1.13 is better than UK exchange rate, though not great .... but that would only be for 'spending money' whilst I'm there, not for the actual apartment deposit which I will probably do through an fx company (still have to make a decision on that). I did hear that Gangas offer a really good exchange rate, even for property-purchase amounts of money, so I will try and find out about that when I arrive.
Thanks for the info regarding the 'no letting' law. The plan with the apartment is to have it for ourselves and family to use, possibly the odd private let to close friends and so on but not as an actual holiday-let. Although apparently there is tax to pay based on the rental income of a property whether or not you actually do rent it out or not - which seems a bit contradictory and I will have to look further into that.
The primary reason for buying the apartment is to escape the UK whenever we can, until we can sell up here and move to Lanzarote permanently......... oh I just can't wait!
There are loads of properties available for holidays advertised on HL etc, (and I have stayed at many of them!) so does that mean that strictly speaking all those owners are breaking the law, or is there a legal way of renting your property out, without having a Touristic License? If not, then do people just take the chance and hope not to get caught - All a bit confusing isn't it!
Thanks again for your help and info.
Many thanks for your reply and the info which is very much appreciated.
1.13 is better than UK exchange rate, though not great .... but that would only be for 'spending money' whilst I'm there, not for the actual apartment deposit which I will probably do through an fx company (still have to make a decision on that). I did hear that Gangas offer a really good exchange rate, even for property-purchase amounts of money, so I will try and find out about that when I arrive.
Thanks for the info regarding the 'no letting' law. The plan with the apartment is to have it for ourselves and family to use, possibly the odd private let to close friends and so on but not as an actual holiday-let. Although apparently there is tax to pay based on the rental income of a property whether or not you actually do rent it out or not - which seems a bit contradictory and I will have to look further into that.
The primary reason for buying the apartment is to escape the UK whenever we can, until we can sell up here and move to Lanzarote permanently......... oh I just can't wait!
There are loads of properties available for holidays advertised on HL etc, (and I have stayed at many of them!) so does that mean that strictly speaking all those owners are breaking the law, or is there a legal way of renting your property out, without having a Touristic License? If not, then do people just take the chance and hope not to get caught - All a bit confusing isn't it!
Thanks again for your help and info.
-
Ben McNevis
- Posts: 846
- Joined: Mon May 15, 2006 10:07 am
- Location: Scotland (for) The Brave
- Contact:
Wendiew,
for spending money, while in eurozone, it's best to have a look at the advice on moneysavingexpert.com - the Martin Lewis website. Longer-term, you'll have a Spanish bank account and if you can get your euro-zone visitors to your Welsh property to pay you in Euros to your Spanish bank account, then you get a perfect rate when you spend in Euros. That's what we do with getting mainly French and Italian visitors to our Scottish Cottage, so that covers all our Spanish expenses and our holiday spending so that we never have to convert pounds into euros.
All this because the hotel companies don't want to face up to competition - that's my view. Some say it's because the government see organised tourism as the only way to reliably collect taxes from the accommodation sector. Others say that the enforcement drive is a money-making scheme for a hard-up economy. Whatever the thinking behind it, it's going to end in tears.
You mentioned that you get charged an income tax. Yes, that's a fairly nominal amount charged to non-residents. Non-residents should also declare any real income from property and pay tax at 25%. Residents are able to deduct expenses before working out the 25%. You can choose to be resident if it suits you. Your lawyer will advise.
for spending money, while in eurozone, it's best to have a look at the advice on moneysavingexpert.com - the Martin Lewis website. Longer-term, you'll have a Spanish bank account and if you can get your euro-zone visitors to your Welsh property to pay you in Euros to your Spanish bank account, then you get a perfect rate when you spend in Euros. That's what we do with getting mainly French and Italian visitors to our Scottish Cottage, so that covers all our Spanish expenses and our holiday spending so that we never have to convert pounds into euros.
Yes indeed. Probably about 2000 properties advertised openly on the listing sites for the islands as a whole. Apart from a handful of legal rural holiday properties and a few where the whole complex is owned by a single owner/company who choose to advertise that way, they're all illegal. Up until the end of last year it didn't seem to matter too much as there had been no enforcement. Now there SEEMS to be enforcement, and assuming it's not smoke and mirrors, that will lead to a cascade of implications for the islands' economy: property prices depressed, resorts half-empty at peak season, restaurants and bars going bust, owners unable to pay their community charges and so on.There are loads of properties available for holidays advertised on HL etc,
All this because the hotel companies don't want to face up to competition - that's my view. Some say it's because the government see organised tourism as the only way to reliably collect taxes from the accommodation sector. Others say that the enforcement drive is a money-making scheme for a hard-up economy. Whatever the thinking behind it, it's going to end in tears.
You mentioned that you get charged an income tax. Yes, that's a fairly nominal amount charged to non-residents. Non-residents should also declare any real income from property and pay tax at 25%. Residents are able to deduct expenses before working out the 25%. You can choose to be resident if it suits you. Your lawyer will advise.
Cheers, Ben
www . scotland-cottage.com www . scottish-cottage.com
Visiting Glenrothes? It's one of your Fife-a-day
www . scotland-cottage.com www . scottish-cottage.com
Visiting Glenrothes? It's one of your Fife-a-day
Thanks Ben. Unfortunately we have only ever had 1 euro-zone booking from a German family in the 3 years of renting the cottage out. All the rest have been UK families/couples. I am hoping that will change now that our ad is on HL. I am considering advertising with OD and HR as well but will see how it goes with HL first.
I think I will stick with having the Lanzarote apartment just for our own use, over winter and the odd weeks through the year, so there won't be any worries about the legal system..... perhaps 'they' will see the implications and rethink the situation. I'll be sure to have a good lawyer check everything and get the best advice possible regarding tax etc. For us it's well worth spending the money on the apartment even without it making an income, as we visit the island as much as we can already, and of course will do so even more when we have our own place to stay. Eventually we will move over permanently but would still have to earn a living - preferably by renting out a couple of properties, but looks like we'll have to rethink that.
Many thanks for all your advice and info, it's very much appreciated.
I think I will stick with having the Lanzarote apartment just for our own use, over winter and the odd weeks through the year, so there won't be any worries about the legal system..... perhaps 'they' will see the implications and rethink the situation. I'll be sure to have a good lawyer check everything and get the best advice possible regarding tax etc. For us it's well worth spending the money on the apartment even without it making an income, as we visit the island as much as we can already, and of course will do so even more when we have our own place to stay. Eventually we will move over permanently but would still have to earn a living - preferably by renting out a couple of properties, but looks like we'll have to rethink that.
Many thanks for all your advice and info, it's very much appreciated.
More people from the Canaries ;-)
Hi,
And more people from the Canaries here.
We are Belgian expats who bought our house here in Fuerteventura about 10 years ago.
Since two years we rent out two apartments in Corralejo.
If you need some info about Corralejo or Fuerteventura, just contact me and I´ll try to help you.
Regards,
Gunnar, Nadia and jessica,
And more people from the Canaries here.
We are Belgian expats who bought our house here in Fuerteventura about 10 years ago.
Since two years we rent out two apartments in Corralejo.
If you need some info about Corralejo or Fuerteventura, just contact me and I´ll try to help you.
Regards,
Gunnar, Nadia and jessica,