Tenerife or Lanzarote

[Sally Ann]

Hi am totally new to the rental business and would like to know if any one has advise on the best Canary Island to invest in.


Thanks

[Ben McNevis]

Sally Ann, I guess this reply is far too late to be of use to you, but here are my thoughts anyway:

Out of Tenerife or Lanzarote, I think you would find more demand for Tenerife because the flights from the UK are much more frequent and cheaper. Remember that the cost of someone's holiday to the Canaries tends to be 80% travel and 20% accommodation so it's important to be where the travel is cheapest.

I would also consider Gran Canaria (that's where we have a couple of apartments) even thought flights to GC are not so frequent or cheap as those to Tenerife. The demand is high because there are relatively few private rental properties there.

One word of warning: There is a regional law applicable to the Canary Islands: a property within a complex (i.e. apartment within a block) can only be let through one company which represents all owners in that block who are letting. This is a bizarre law which seems to benefit only the service companies and tour operators. Fortunately, it is widely ignored and I've not heard of anybody having any trouble. However, it is advisable to not let the "comunidad" know that you are letting privately.

Cheers
Ben Frirnan
( For rentals management software see www.prgrancanaria.com/hrd )

[la vache!]

I'm sure it isn't the best one to choose, if only for transport links, but I like La Gomera best because of the great scenery, lack of commercialism and hiking. I don't think many other British agree though, as when I went there were predominantly Dutch and German tourists apart from ourselves.