General

Long Term rental advance payment question

wakevortex writes in General

We are a couple from London relocating to Costa del Sol (probably Estepona or surrounding) We are looking to long term rent from late May/Early June for minimum 6 months initially (though happy to consider a longer rent initially for the right property)

We are on a trip in early April for 2 weeks to view potential apartments , with the intention of concluding a deal there and then if we see the right one.

We have the money ready to spend.

We are happy to negotiate on deposits/advance rentals etc., but some agents we have emailed with appropriate properties are saying that most people would be unhappy to let during the summer period on a 6 month initial rent , AND would require 3 months upfront AND 2 months security deposit.

Is this normal? I appreciate summer can bring holiday rentals to some , but surely better to have 6 months (or more) with SOME paid up front by a tenant , rather than risk it being empty.

I suppose what I am asking is, should we be prepared to pay these kind of big upfront payments to secure a property in late April for late May/early June moving in?

Many thanks for any thoughts in advance

Bill P

Posted on: 27/03/2012 at 17:23

No it not normal, dont pay more than 1 month deposit and 1 month in advance
normally though owners/agents wont hold a property for more than 2 - 4 weeks before the commencement of the tenancy. and they may ask for a small (non returnable - but taken off the rent) deposit if you are not ready to move in straight away
This means you may have to start your tenancy early May if you are arriving here early April

as for " people would be unhappy to let during the summer period on a 6 month initial rent" , yes there is some truth in that, however it is a buyers ( renters) market at the sub- 1700 euro per month rentals
and there are stacks of properties available all over the costas


Posted on: 27/03/2012 at 23:14

Charger
thanks for the advice - pretty much confirms what I thought..
will see how we get on when actually there with agents
cheers again
BP

Posted on: 28/03/2012 at 09:26

My advice to all who intend to rent for a longer stay is to not rent anything from abroad. Book a small hotel or hostel for a week and check out the areas. It is very easy ending up with something you do not like in an area that not suit you - if you haven't seen the apartment and the environment with your own eyes.

Welcome to Costa del Sol,

Posted on: 30/03/2012 at 14:11

Indeed jonnyx , exactly why we are spending 2 weeks there specifically to do just that :-)i bet half the properties advertised online aren't actually available , despite it saying otherwise :-)

bp

Posted on: 30/03/2012 at 14:23

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