Wondering how to monetize your rental apartment in Costa del Sol?

Check our guide on how to and rent your apartment in Costa del Sol!!

Today’s  global society makes  people choose experiences over things. Hence, more and more couples, millennials,  families  choose to spend their  budgets on vacations  ´under the sun´.  They spend hours on their online search for  the ideal ´apartments for rent´ for the next holiday escape! On the other hand, owners  of apartments for rent  often face the problem  on how to monetize their apartments for rent and how to make money out of it without   that becoming a disaster case  long term . It is obvious that sometimes  long cost and effects  of  renting could be negative on their properties. Rafleys is specialized in managing apartments  & vacational rental properties! Our experts  will guide you on how to  monetize your  rental apartments  efficiently and make money for living out of it without facing drama cases with ´bad tenants´and tenants that will ruin your property!

Here’s the overall process you should follow:

  1. Prepare  your apartment showing
  2. Organize the paperwork  of your apartment
  3. Research the apartment rental prices & try to adjust your  rental price
  4. Choose carefully your tenants

1. Prepare  your apartment  for showing offline and online on different media channels

It is  more than evident that the more time you invest preparing  your property  the more chances you will have  to rent it.

  • Repair cracks and holes on the walls and put some  fresh coat of paint over the walls.
  • Check on your appliances , broken  light bulbs, door locks, plugins  etc. It might be even a good idea to prepare a checklist  on the state of things  to use when the tenant moves in or out.
  • Air  out  the apartment for rent and  use soft home aromas to give  your home a beautiful  & atmospheric sense of ´HOME¨
  • Decorating  your apartment for rent is  a good idea! You don´t have to  overspend your time on this one.  Using  small tricks and tips to make it look ´cozy  and stylish would make your tenants feel welcomed.

2. Organize the paperwork  of your apartment

If you want to attract quality audience for your rental, you will need to have the right paperwork on hand.

  •  Having an occupational license  that makes you compliant with technical conditions and quality requirements for housing is  a MUST
  •  Direct external ventilation or via a patio and a window shading system ( either by blinds or curtains).
  •  Having  your  apartment for rent  equipped and furnished  is also obligatory. Make sure you  supply   the  instructions for electrical appliances.
  •  Air conditioning system with units  in all bedrooms and  common use areas  for cooling / heating

For properties classified as of ¨ Cultural Interest” where modifications and/or building work is prohibited  air conditioning system might be an exception

  • Having a book for customer complaints and claims is the key to your success and it obligatory in the region of Andalucia
  • Facilitating information  on local amenities and establishments  is super useful for your guests
  • Having a medical kit with proper supplies is vital to ensure your guests well  being in emergency cases and accidents
  • Hygiene and  cleanliness prior to the arrival and after the departure  of your guests are  MUST
  • Bedding, towels, spare sets and other types of  necessary household goods  need to be in place
  • Always leave a contact number that can be reached 24/7 for customer  questions  and queries
  •  Inform your guests on  property rules  and guidelines

3. Research the rent rates before you  place your ad

Make sure the Price is Right!

It might sound very simple but google ¨apartments for rent¨and compare market prices to yours.

It is always wise to research  and spy on your competitors before you go for your own ads and price  marking.

Don’t be too greedy as you might want to hit the competition  at first. You will rent your unit faster, have a more demand short term or long term. It’s better to lose  a bit short term but  kick off faster and get your  rental business set and going!

Do not skip the must do  sales channels to get your property booked !

  • Advertise online! We want to be open in our advise and we would wish you good luck in your listings with all possible portals and renting platforms out there.  However, if you want  custom  services and  an all year booking  do consider working with Rafleys. Our customer based approach and local know how will guarantee you a flawless service.
  • Put a sign up  for your apartment rental with a phone number.  It will be a   ´showcase´for renting your property to possible customers out there and  will also make it noticeable for possible booking agents and property managers
  • Use your own network and do not miss on possible opportunities. Email all of our friends and let them know  you have got an apartment for rent.

4. It may sound easy but choose your new tenants carefully!

Whether your letting your apartment for short term rent or long term its vital to understand who is your tenant. #1 Profile Basics Basic contact information such as phone number and email address are verified during the account set up  on most apartment rental portals. Sometimes the user might even have an about me section , make sure to check that as well. #2 Social Media If you have a visibility to your guest/ user profile try to checking their social media e.g. Facebook, LinkedIn, and Google , other. Look for a significant amount of connections and in general make sure the profile looks reliable and real. #3 ID Verification If there is a pre id verification process on the portal you are using, do make sure to check this option. It might be a safe way to  a secure booking. #4 Insurance Most apartment rental portals  offer  an insurance policy   which provides owners and property managers with liability protection for all stays processed online. We hope that Rafleys tips and know hows shared in this article will help you rent your property easier. Our experts are here to help you and reach out anytime! Do not hesitate to list your property with us and  get an exposure to more than  50 portals online  https://rafleys.com/list-your-home/ .  For  further Inquiries email to:  info@rafleys.com

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