Roda rental market

Hi all,

I am thinking of buying a property in corvera or roda, can anyone give me an idea of what the rental side of roda is like and what in reality would i be able to achieve, i am not looking to make money as such, its more to help with paying some of the bills that come with owning a property in spain.

Noel

You will have more of a chance of renting at Roda than Corvera  thats for sure, but you will pay more for your property on Roda,  also Roda is on the coast and  next to the airport. Dont buy into any agents talk of  Corvera airport will be open anytime soon. because nobody knows when or IF the airport will ever open at  Corvera  .Its good that your not looking to make money from renting, because you probably will not..

Corvera has a purchase completion rate of only about 40% - the majority of properties were purchased off plan and the buyers have walked away from their deposits. The resort is in deep financial difficulties.

The purchase completion rate at Roda is said to be over 90% and there are a few new properties that have not been sold, these are discounted but not in good locations.

A drive round the two developments will quickly establish which is flourishing - as with other resorts.

Roda is near the sea, town, close to the AP7 to get you further along the coast and just a few minutes from San Javier Airport. Don't hold your breath for Corvera Airport.

I know one agent is not advertising the real bargains, and don't be rushed into buying. Check everything invcluding the Community fees and facilities before you buy - the vary considerably. Shop around to find a good lawyer.

One thing about Roda - we no longer include the Beach Club as it, (and the Club House) are not managed by Roda, the beach is a long way away for not much.

The rental market is quite competitive, and many 'discount' but you get what you pay for and vice versa.

Mike

As others have said - Roda is a better bet than Corvera for rentals but having said that Roda is not that brilliant at the moment due to recession. Now might the time to buy cheap - but people expect to pay very lettle as well to rent.

For a 2-bed apartment you need to budget €2500 a year to pay for Community, Entidad, IBI and renters tax - and that's on the cheapest phase (Phase 2). Budget nearer €2800 for Phase 1 and 3.

There is another thread from April with info on as well
http://www.eyeonspain.com/community-forum/32107/is-there-a-market-for-holiday-lets.aspx

As Mollusc and Sandra said, the market is extremetly cutthroat on Roda and is costly in terms of both time & effort and cash to achieve lettings. Budget about £700 pa to advertise on the 2 biggest sites - although some now offer commission based advertising although you don't get paid until after the let.

If you don't live on site then you will need a Management Agent. They will charge a minimum of €300 pa just for key holding and then you will need to pay for cleaning between lets of about €100 a time.

Also factor in that some idiot renters will turn the air-con on 24*7 in the summer which will cost you in the region of €50 a week.

It is slightly easier to rent out long term but then you wouldn't be able to use it for your own R&R and at the moment a 2-bed long term rental is only fetching at most €450-500 pm. I know of one that has just rented at €400.

You will find it hard to even cover the above costs - let alone make a profit in the current market. And if you have a mortgage to pay as well then you will never cover costs.

Well the people that rent out must be having a very good year, because i put a post on looking for a long term rent on both Rodas,  so far nil replys ???

Mad4

i don't rent out my apartment but I do know many that do and think I understand the market place.

it is likely you have not received a reply as most serious renters would expect to be able to let their apartments for regular holiday rents through June, July and August when Roda is heaving and holiday rents yield far higher returns.

Given the popularity of Roda, most would be disappointed to have their apartment empty for more than a few weeks over the summer.

Long term rentals may be of interest for a regular income but not over summer.

best of luck though.

If you haven't already done so, and I'm guessing you have, go and have a good look round both resorts as they are very different.  We have an apartment on Roda and rented out for the first few years, but as pommers and others on this forum have said, it is very hard work to get rentals and very difficult to make it pay.  We don't bother now because for us it's just not worth the effort, hassle, or wear and tear on the apartment.  That said, I know of others who do well enough because of the effort they put in, so there are differing opinions on the rental market.

If you want to do holiday lets buy a penthouse, groundfloor or townhouse because as Mad4's posting demonstrates, there is more demand for those.  For long term rental I think first floor can come into their own a bit more because the tenants generally are working and may want somewhere quieter than ground floor.

As a completely biased view, although buying on Roda wasn't the greatest financial decision we ever made, we love it there and have found very few owners who disagree on that.

Good luck.

Thanks for all the advice guys, i think i will look inland on to the Polaris sites, as im not getting much joy on the coast ,plenty of properties to go at on the 2 La Torres sites.Thanks again.

book online for more offers