We have recently started up a rental service for our clients here in Valencia. You can see more about the service on this page. We have had lots of people signing up for the service and we have already placed a couple in their properties but it was difficult, very, very difficult in one case and they had reasonable budgets and expectations. Essentially there is little availability in the rental market in Valencia City.
For one client we took their requirements which are largely typical and put them into the major property portals before we began speaking to our network of agents, homeowners and more. Their requirements were relatively simple, maximum price 700 euros per month on a long term rental, three bedrooms, two bathrooms, hot and cold air con and/or heating, not first floor, somewhere to store a bike. There were a few other requests but nothing that moved the needle too far. However, with those basic requests there were a grand total of four apartments available in the whole of Valencia. Of those four three were furnished and they wanted unfurnished as they have their own furniture.
That left one property available in the whole of Valencia.
Oh, it was first floor, they didn’t want first floor.
Then we talked to the agents we know in the areas that interested them. We spoke to around 15 agents who specialise in rental properties in those areas. Around 10 laughed at the requirements, four said “We have nothing”, one said maybe next week, then got back to us and said, “No, it’s rented”
So we went onto the owners of properties that we have sold in the past and might be interested in renting. They were all either rented or not available as the owners were using the properties soon and the year long lease wasn’t interesting to them.
So we talked to owners of rental properties about how many properties they have available and prices and facilities…
The truth is that the rental market is extremely difficult at the moment even if your budget is large and your requirements are relatively easy. We are not just talking about people who insist on being by the sea or having a garden, with all costs included for 600 Euros per month when that month includes the Fallas fiestas and Easter (And yes, I saw that request on a Facebook group page today!)
What This Means For Buying Property For Rent in Valencia
Obviously I don’t need to spell it out for you but I will. If you buy a property to rent in Valencia city you are virtually guaranteed to rent it out. Long term and medium term rentals are guaranteed to have a queue of potential tenants turning up to view. You can essentially choose your tenant. The only reason it doesn’t rent out is because you demand too much of the tenants, some people ask for huge deposits, six months up front and other rubbish.
Also those tenants know that there is little availability and they are unlikely to find as good a place again as the rental market moves up so once they are in they want to stay. You therefore have a reliable tenant. The new rental laws allow tenants to break the tenancy agreement after six months but even if they do you will very quickly get another tenant in.
We wrote an article a few days ago about properties in Valencia for under 150k. This is the ideal scenario for a rental property to maximise return in the city and give a decent price to the tenants. We have recently rented a property on the outskirts of the city, Benicalap, with two bedrooms, one bathroom, kitchen diner and terrace to a Spanish client for 690 Euros. That property costs considerably less than 150k so the return for the owner is excellent. However, we made sure the rent was affordable and attractive so we got to see many potential tenants. The situation is unfortunate for people wanting to rent as they are in competition with plenty of other potential tenants. However we now know of a list of potential reliable tenants looking to rent and we need more properties to offer them.
Do You Want A Rental Property in Valencia?
We have a good selection of properties that would be an excellent addition to anyone’s rental portfolio. We can take into account your requirements, and put together a list of potential investment properties with expected returns and timescales for those returns, i.e, how long would the property need to get ready for rental post purchase? We can supply building services, architects and project managers to make sure that the property is ready to go as soon after purchase as possible.
Once bought we can supply you with a full property management service, potential reliable tenants and an ongoing service to help you with any issues that may come up post purchase.
Somebody asked me when I told them I was writing this, which would you buy currently on your site so here are a couple that suit.
A tidy apartment in a good area of Cabanyal that consists of 2 Double Bedrooms, 1 Single, Living Room, Kitchen and Bathroom, set on a quiet street in the heart of Cabanyal.
As you can see from the photos it needs a bit of TLC, primarily the bathroom and the kitchen, but it actually functions as is for Mid Term Rentals and achieves 850 Euros PCM.
Sold as seen in the photos, a very good investment for returns or your very own home on the Mediterranean in the best city in Spain.
Well, it’s been a while since I’ve seen something this good in Ruzafa actually at a price that doesn’t make you immediately roll your eyes and shake your head.
A duplex Apartment on Calle Cadiz, totally renovated with Central heating, Double Glazing, East and West orientation with what they call “cross ventilation” which is very important in the hotter months (usually 9 out of the 12) and perfectly painted, maintained and in very good nick.
2 Bedrooms, 1 Bathroom, with an option for a 2nd on the upper level, Open Living Room and Kitchen on a 3rd floor in a nice old building on Calle Cadiz, no elevator but worth the climb and very low community fees and Council Taxes,
Ready to go, very decent indeed and easy to rent out because the demand in Ruzafa is huge.
First floor ready to move in apartment with lift situated in a calm neighbourhood on the verge of Russafa.
Monteolivete is a no brainer if you are looking for the perfect balance between lifestyle and investment. This part of town with accessible prices has developed into a popular neighbourhood amongst investors.
The 2006 building is in perfect condition and the apartment has been well taken care of with a recent refurbishment here and there. Situated on the first floor, but at the height of a second floor, the property is eligible for a tourist licence. The apartment features an ample living room, fully equipped kitchen, two bathrooms and two double bedrooms. Both luminous rooms have access to an interior terrace. One of the bedrooms has an en suite bathroom.
Ask us about the possibility to buy parking space in the ground floor garage.
That’s just a small selection of what we have available. But it gives you an idea. Click on the banner above for our homepage and more potential properties to buy for renting in Valencia.
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