Long term Rentals

A couple of months back Calida property put on a message for anyone interested in renting out their property on Roda long term to contact them,they were looking for approx 50 properties has anyone had any joy with this or had any info from Paul Baxter, I contacted him asking for details which he said he would have in the next few weeks that was at leat 4 weeks ago and still nothing,and I emailed him last week but still no reply! does anyone know anymore details?Please PM me Thankyou Pauline.

Hola

I too was told that and have heard nothing, if i do I will let you no could you please do the same

I inagine like me you want to no the prices per month ,their costs etc?

any info would be great for the people there like you and me

Many thanks

Brad

the long term rental thread was started when roda was getting a lot of negative comments on here regarding the rental figures being achieved and the lack of tennants . the fact that an agent based on roda posted this and is no longer responding to enquiries , read into that what you will , was the market being talked up ?

I have seen long term rentals advertised on Roda for anything from 500 euro per month to 750 euro per month in the various rental company offices in Los Alcazaresa and there are quite a few to choose from. I agree with you and am not sure that there is the level of business that CIP were predicting in their post but maybe they were acting in good faith and knew something that we don't. They have not been shy in posting their advertising in the past so we will await with interest if they are as good at defending themselves. 

On a point of information I am pretty sure that Calida International is NOT based on Roda (although Paul and Stuart seem to be here a lot but this is surely understandable if they have a lot of clients) but as Calidona have their own rental department surely they would be shooting themselves in the foot to allow another rental company on site.

Don 

I have seen long term rentals advertised on Roda for anything from 500 euro per month to 750 euro per month in the various rental company offices in Los Alcazaresa and there are quite a few to choose from. I agree with you and am not sure that there is the level of business that CIP were predicting in their post but maybe they were acting in good faith and knew something that we don't. They have not been shy in posting their advertising in the past so we will await with interest if they are as good at defending themselves. 

On a point of information I am pretty sure that Calida International is NOT based on Roda (although Paul and Stuart seem to be here a lot but this is surely understandable if they have a lot of clients) but as Calidona have their own rental department surely they would be shooting themselves in the foot to allow another rental company on site.

Don 

I also enquired at the time and did receive a response from Paul. 

I think what most people want to know is what the financial terms are and I've included that element of a detailed response from CIP

"This means the gross figure to you would be 6,400 euros, less 995 euros (management fee) and 1,200 euros approximately (community charges) leaving you 4,200 euros for the year."

In short an income of circa 350 euros per month but you do have to commit to 12 months which means that although it's attractive in jan/feb it's much less so in Jul/August.

I guess it depends on how many weeks a year you think you can rent yourself.  

When we first bought on phase 1 we did have a long term tenant in one of our properties whilst it didn't work out terribly well, I wouldn't be put off again if the income was right. For info we were renting then at 800 euros a month.

I would also suggest that anybody taking on a long term tenant gets independent legal advice, particularly with regard to avoiding the potential of sitting tenants in your property with all the legal rights they have.
  

350 euros per month for a long term rental on a 5star golf resort , so this is the reality of the spanish rental market and throw in falling values !! maybe this is the reality check that was needed to make people realise what sort of an investment these properties really are !!

Searay

If your in this for the long term there is nothing to worry about value wise

Dont rent out long term it does`t pay

Just work that little bit harder trying to rent to holiday makers and you can make it pay

These are sound investments but not short term

wangy

whilst it is nice to remain posative one must also look at the facts , 1/ massive over supply , 2/ falling rental values , 3/ falling capital values , 4/ banks reluctant to lend , falling loan to values ,5/ calidona shelving phase 5 indefinatly , 6/ no sign of hotel (to my knowledge) . whilst i believe this is a time of great oppatunity for cash buyers to take advantage of the current conditions people that bought offplan in 05/06 may be in for a very rocky ride even trying to complete let alone trying to rent to cover costs , add to this the tourist numbers decreasing and the piture looks very bleak . i should like to add that i am posative about the roda product hence i bought  and believe that i will hold up better than other developments it will however not be immune as some believe . i would be intersted to know your idea of long term as prices are not expected to stabalise (ie stop falling ) untill 2012 . i personally would not expect to see prices return to the offplan contracted price for possibly 10 years there will of course be exceptions and it would be nice to believe roda would be one of them but just because the owners want it to happen does not mean it will . 

I agree with some of your sentiments but there is one aspect to the over-supply situation that many have overlooked and that is the fact that construction of new developments has virtually stopped in Spain.  When the market comes back and Euribor is at 1% we will all be owners on one of the most modern resorts in Spain.  There will be few others of the same standard to chose from!  Had the  crazy construction boom continued I wonder where we would all have been in 2-3 years time?  Personally I am just grateful that most of Roda has been completed.  If I had wanted a hotel I would not have bought a property!

They reckon it will take 4 years to shift the 1000000 plus newly constructed empty properties in Spain just now, thats without what will be built between now and then and will the Eurobor ever go back to 1%.......

as someone mentioned earlier - im not too bothered about a hotel as it is rally just competition to renters.

what i do want to see though is the resaurants/shops being completed as that is something i think we need.

it is usually a case of supply and demand, even when times are bad, and roda does need shops, so i think they will go ahead.

people who stay in 5 star hotels on golf resorts are no competition for apartment rentals its a totally different market , it will be the hotel that will attract the 5 star rating for the resort and as such is an integral part of the resort and should help maintain premium price levels for roda , lets hope it gets built . i wish i could share your optimism regarding the 4 year time scale as more and more people are loosing there jobs in a worldwide recession where are buyers going to come from ? .

In response to a couple of the posts below, there is indeed a considerable demand for long term rentals at Roda Golf and well in excess of the 50 or so initially quoted, we are currently in the process of matching clients to the specific properties required, this is not an over night process, it is ongoing.

There are a number of contractual issues that need resolving before we will ever expose our clients to any potential problems or "sitting tenants rights" as outlined in one of the posts below, unlike a number of our competitors, we take our responsibility of looking after peoples properties very seriously indeed, with that in mind, we will not be rushing to fill the apartments for our clients without making sure they are fully protected and we have vetted the tenants thoroughly.

There has already been an example of undesirable tenants staying in an apartment at Roda Golf with disastrous results (no clients of ours was involved)

I can confirm that Calida International Properties are not based at Roda Golf, however we do have an office not 2 minutes from the resort and we are on site 7 days a week, 365 days a year.

Finally, why Don (Fair dues) do you think we need to defend ourselves, what is it we have done that requires defending, nobody is working harder to look after their clients and indeed everybody else's clients for that matter, we are constantly helping owners (not always our clients, take Robert Peat on phase 1 for example, no air con for 18 months yet paid for it, thanks to us it is now working perfectly and we have a long term client for him) and visitors alike, in some cases at considerable cost to ourselves, please feel free to read some of the comments on this forum and indeed our own testimonials on our web sites.

If you feel Don we are doing something wrong, we will be happy to accept any suggestions you may have where we can provide an even better service,  we will be very grateful for your input as we are constantly striving to improve as a company.

We will continue to provide a first class, 5 star service to all and continue to make all owners aware of any potential rental propositions that present themselves to us, if anybody is interested in any such proposition, we will be happy to help and assist any way possible, if not please don't post negatively about us, just be happy there are people out there who are doing their absolute best to help people in these very tough times.

The long term rental option is still available and we are filling properties as we speak.

Regards, Stuart

Searay check your PM

wangy check your pm

Got it

Well done CIP, straight to the point. If Anyone wants my opinion on this excellent company PM me or put it out in the open.

I am sorry Stuart but I did not mean 'defending' as a bad thing I meant that you would be quick to put the record straight as the first two posts on this thread were sceptical about the possibility of long term rents at the level you had mentioned. If you notice in the line above I mentioned that you were probably acting in good faith when you placed the ads for long term rentals. I have no doubt you do a good job and you are always in Roda so you are never far away if anyone needs you. I apologise if I gave a wrong impression but felt that the other two posts were unfair to you guys and hoped that you would clarify matters which was probably what I should have written. I use my apartment too often to go for the rental programme you offer but know some neighbours who have nothing but good things to say about you and Paul.