Buying property for holiday let

Hello, we have a property on site and love visiting. We have been considering purchasing another for holiday letting but would be very grateful for anyone out there to let us know their experience with this after, if you own your own to let then please let us know. Any help appreciated. Especially how many weeks you generally are able to let for etc.
Thanks in advance for your help, it's really appreciated

if you want a second property as a long term investment then fine, the prices are low at the moment so in the long term you may make a profit on your investment. but if you want a second property with the hope of covering all costs through rental I would advice against it. there are 100's of properties for rent on Condado and many are only rented a few weeks a year and some not at all, you would be extremely lucky to cover your costs. With so many rentals available owners are dropping their prices to very low levels which whilst good for renters is not ideall for owners but given the current climate I can understand it as even a low rent that will cover that weeks/months costs is better than no income at all.

Thank you for such a quick reply. Yes it would be investment but was wondering about letting potential. You have cleared this up for me and I appreciate your help.
Do you live on the complex? Would you mind me emailing you about other advise regarding the complex?

Renting it out in August is likely but outside of then unlikely (unless you really get to work on your contacts/connections).

We have a second apartment for holiday letting and also for friends and family to use. I would say like ptan that it´s hard to get the costs covered. Renters are trying to push the prices down all the time. I rather say no than drop the prices because besides costs for community, insurance, electricity and water there is another kind of wear when you let it out.

But for a long term investment I think it´s great and it´s also nice to have som place to put your parents in when they are visiting. :-).

I also think it´s easier to let a ground floor apartment and make sure it´s faced south or southwest to make it easier to let during winter and spring.

If you market it to golfers you would rent it out more than just in August.

Good advice given here, except that golfers are often looking for packages of which there are plenty.

Better to buy and rent out in the UK, even placing your property in the hands of a good agent.

Empty properties still carry high annual costs here. A second property also requires you to use the services of a gestor to manage your accounts. 

Good advice given here, except that golfers are often looking for packages of which there are plenty.

Better to buy and rent out in the UK, even placing your property in the hands of a good agent.

Empty properties still carry high annual costs here. A second property also requires you to use the services of a gestor to manage your accounts. 

 

This message was last edited by Lifeline on 07/08/2013.

Thank you everyone, you have all been really helpful.