Volunteers needed for children's charity in Malaga

Hi All,

Just to introduce ourselves, we have bought a Natalia on phase 4.

We are going out on the 27th April 08. We will take some piccies and post them for you guy's.

We have got our bank guarantee so no problems there.

We have had some great one to one visits with the staff at Clayton Ges, Gill and Darren to name a couple. We have found them to be honest and great people to be with and have no doubts at all that our dreams are in trustworthy hands..

We are a little worried about the strength of the Euro though, this will have a massive effect if it stay's as is or worsen's?

If we take funds over we lose massive in the exchange rate, if we take a mortgage in Euro's we pay through the nose on "arrangement fee's" and 7% I.V.A.Tax for the luxury of borrowing their money etc.. So one lose's both way's.

Will have to get my head round this before long but it is a canundrum.

I have my doubt's about the economics of renting out as well. If the Spanish taxman takes 25% before any bills are paid and the rental agent takes 20% ....that  leaves  the guy who is taking all the risk's and own's the property with 55% . From this you need to pay the mortgage and everything else..... Seems a very large chunk of " would be" profit  for the hangers on.

Has anyone any experiance of renting out? Is this going to be a problem paying out 45% and then being able to pay any mortgages etc? Any information on these would put our minds at rest and give us and everyone else on this forum a little in-sight.

Any Ideas anyone or any different interpretations?

Send a private e-mail if you like?

This message was last edited by tanboy on 1/8/2008.

Hi Tan Boy,  Nice to here from you.  I have  friends that rent out their property on the coast and what i can gather is the tax in only paid on the profit after all of the other expenses have been deducted, I think the key is to get yourself a good accountant out there. Not sure what the onsite management company are charging for rental fees have you contacted them ?    I think most of us are in the same boat with the money situation, the only thing is if you are considering renting out  do it in euros and then have your money paid into your spanish bank account and then you dont have to worry about the exchange rate.  Hope this is of some help to you.

Hi Chingo,

I rent houses out here in England and must admit I thought it rather nasty for the spanish taxman to take his money before any bills being paid and was somewhat very wary! (cos I didn't like this one bit!).

I can only hope you are correct as all that I have read say's the taxman wants it before?

I have sent you a private message concerning the rental company....

How easy to rent out do you expect these villa's to be or is it just a wait and see jobby? Does it concern you just how much competition there is out there or do you consider this to be good for business??

Just to add, I have spoken to someone else who has nothing to do with the Finca developement, therefore has no "AXE TO GRIND" but was himself a rental management company. He said it is a very good and interesting developement and would have no problem renting mine out for all year and having someone in all year with no "VOIDS" this is/was music to my ears but what I wasn't impressed with was he wanted 20% and also if I was to sign a 12 month contract and I wanted to use "MY" own villa I would have to pay him.... Well, I wasn't impressed with that as you can imagine... But I thought you may like to know that little snippet? ( I think some of these management companies get a little above their station sometimes, I think they sometimes forget who actually has their name on the deeds).

Regards

Gaz and Jill

Hi. Tanboy  have tried to send you a private mail but not sure if it went or not as i had no indication to say that it was sent or not.  After doing a lot of homework on the the subject over the past year or so, ie getting prices from other companies on similar projects,  I think the prices quoted are about normal for Spain, infact some companies were ever higher,  I suppose we do have to remember they also have a business to run and over heads & taxes to pay,  Im a firm believer you only get what you pay for, if you pay peanuts you only get monkeys  and believe me there are plenty of those about,  here in the uk and in Spain, at the end of the day its the individuals choice, but I think initially I will give them a go especially while there are so many workers still on the site, a bit of peace of mind and all that !!  Sorry I cant comment on the rental and tax side of things first hand, I only know what I have been told by friends, maybe it would be a good idea to speak to a Spanish Accountant company especially if you intend to let out your property.   Im hoping to get over durig the half term hols in feb, if so will try to take some more pic's and will post them here on the forum.  

Cheers for that Chingo !!!

But no, your private message didn't get to me but never mind...

What do you think about the idea of paying the up front fee's in advance to get a discount? I have never come across this before have you? (in case you have not seen them yet, they are the on the different schemes they offer.)

 

Hiya Tan Boy,  I can see your point, i did have a long conversation with them before xmas and also have the leaflet with all of the prices, they did say that you can just pay month by month in advance, i suppose they need to make sure that they get paid as well, its not uncommon for brits not to pay their bills from what i can make out,  they said that they came up with the discount prices as some wanted a better deal, so i suppose both sides have an advantage the clients get a bit of f  the price and the company know what income they are going to get, however i think there is a clause where you can cancel the contract.  I didnt like the idea of the other company you were talking about charging you to stay in your own house, im also a bit suspicious of guaranteed rental as well, how can anyone do that these days, i know it used to be a ploy done by developers a few years ago but at the end of the day they were over charging for the property in the first place so technically you were only getting your own money back. I must be honest and say that i would be a bit nervous if i had to rely on a guaranteed rental to pay for the house i just cant except  that this is something you can depend on at this moment in time. At the end of the day i suppose we all need to do the best for our own situations, as i said before i am prepared to give them a go, mainly because it will still be a building site when i complete and at least if we do have a problem there will be someone on site to help out.  I noticed earlier today that all of their postings had been removed, accused of being commercial,  its a bit odd really because if you get onto the main forums there are a couple of regulars on there that are in business and always giving good advice and they hav'nt had their postings removed.   Anyway im off home now so good night to you all.

Thanks for that Chingo,

An interesting read..... but I will say this: -

If the rental company is sorting out the holiday lets, the holiday makers will pay directly to the rental company therefore the rental  company is sure of getting it's money anyway cos they take out their money first "no worries". There is no chance of the Brits, as you say not paying up, just not possible.

But if you think about this scenario. I don't like being mis-trusting but I am a little bit older and a lot wiser after being, shall we say "Hurt" so many times!

There are over 600 villa's on this developement, if only 50% rent out, this is an awful lot of money at 20% a time! If they have 300 villa's to fill (at 50% of course), but they all paid upfront for the benefit of a discount, the rental company has all that "WEDGE" .

I personally don't believe (I maybe a bit cynical here, but experiance tells me it is a possibility) that they would have any motivation to actually get holiday makers in at all, they already have their money. You may not repeat it the year after I know, but hey! you have already handed your money over on FAITH and FAITH alone.

I don't do this anymore I am afraid. I am a lot wiser  with hindsight.

I am an ex Aramis client which might explain my scepticism

Anyways must go now

bye for now

Gaz

This message was last edited by tanboy on 1/10/2008.

 

Hi Tamboy and Chino, 

 I am getting a bit confused here as these details do not  reflect the information that I have from the management company, I think two different issues are being combined here, from the information I have there are two different services on offer although they do point out they they are not offering a guaranteed rental scheme and they will only take the commission from rentals generated by themselves, Im sure your not expected to pay anything upfront for this service as they state that they will advertise the property free of charge.    With the management side of things that is something seperate where you contract them to look after your property during your absence.   Im almost sure this is how it all works but Im sure someone out there will correct me if Im wrong.   Palo

 

Hello Boys,  please forgive me If you are not all boys, its just that reading your posts you all come across that way.

I must admit that this thread is making me feel a bit suspicious, I am wondering why after the appearance of  the new Tanboy on here all the threads made by Amanda were removed or is it just a coincidence.  I agree with Mia, they are doing a great job and please keep the information flowing.   Are you really another agent Tanboy or one of us ?

Besr regards  Biddy

Hi Biddy,

WOW !!

I am male, that at least is correct!

Never expected anyone to think of me as an agent. Sorry I have maybe come over that way because of my questions, but I never even gave that possibility a thought I was just trying to get answers (I am not aware of anyone called Amanda).

we are indeed  purchaser's on Finca Parc.... Plot No. is in the 50's... we were also introduced through "Aramis" it still hurts to write that name....

we are very sceptical these days of what people say (as it sounds you are as well, so we do have something in common!)

we are most definately one of you, if you are asking are we purchaser's?

And there was me thinking I was the sceptical one! Hee !! Hee!! 

Gaz and Jill

This message was last edited by tanboy on 1/11/2008.

Just recieved a private message from ricman, which has answered, I think "all" of my concerns that i had about the renting part.

I think it only right to publicly say " I now understand" a little better our way forward.... and also "POST" the reply we sent to ricman...

Please, the reader be aware ....

I thought that this was the function of a forum like this, so people like us (just starting out on our Spain journey) can talk to others with more experiance and get things like this (my mis-conceptions if you like) ironed out. Thanks guys and galls.

Hi Ricman,

Thanks very much for your post ..... That has cleared quite a few doubt and peculiarities for me... The way I interpreted what I was reading was that they wanted 12 months up front.... not a month which is a lot more do-able....

You have now cleared this up and also claered up the discount if the full package was taken... That is also great cos that would be the way I would want to go....

I thank you again for your post that has cleared up the picture for me somewhat and now my way forward is becoming clearer, "Thanks Again".

I would also like to thank Patrick who has rang me today and cleared the roadway ahead somewhat...

I also would like to thank "Eye on Spain" for this forum. Without which I would still be wondering what the way forward is...

 

Gaz and Jill

All is becoming clearer now!!!!! A big THANK YOU ALL !!!

Hi Tanboy,

great post,  I hate the 'A' word too.  As you can see,  I can't even write it.  Way too much water under the bridge over many years and more than one development.  Like you, I too am sceptical of everyone and everything now, but that can only be good in my opinion.  If I was more sceptical years ago,... well then.......... oops I'm winding myself up again.

Hello Biddy,  I'm female, nice to hear from you.

On the positive side, its really great that we can all keep in touch.  I'm still not sure what I am going to do with my place on Finca Parc,  its so far behind on our original estimates, and the market has changed so dramatically,   (the delay being down to the 'A'  people)  stop,  I'm getting all flushed again and its not even that time of life for me yet, even though they did age me by about 10 years.

Take Care Y'all.

Mia

 

Hi Mia,   Thank you for your message, just to let you know that Tanboy and I have settled our differences in a PM,  good buddies from now on I hope.   As you know from earlier on we were subjected to a few dodgy suspected trouble makers on here, still hopefully that is all now in the past and we can all move on in a more positive mode, all we need now if for the financial market to have a swift kick up the backside to get things back into gear again, but sadly that looks as if it is going to be another fly in the ointment ,   for a while anyway !     Have a good weekend everyone.  Biddy

 

Hi All

 

This is the female better half Tangirl!

Been very interested to read all your posts .

Biddy

 I find it quite amusing that you distrusted Tanboy . I thought there wasn`t anybody else as mistrusting as us . Well at least you have reconciled your mistrust of him/us.

Mia

I fully appreciate your resorting to "A" . there are quite a few choice letters that could be added to form a good description of those guys . Have you been out to Finca Park yourself.?

We have been and can`t wait to be retired and out there full time rentals permitting !! Would love to meet you all circa summer 09 hopefully .

Trying to reconcile reports with actual places is just not the same unless you can go yourself. The views are amazing . We are definately going to take a picnic this time .

Best wishes to all Jill & Gaz  

This message was last edited by tanboy on 1/12/2008.

Hello Tangirl

nice to hear from you.  I was out there in October time.  Yep the views are really great and I love the whole area.

Take care

Mia

 

Hi Everyone,  just to let you know that I had a drive up to the site over the weekend, couldnt get on but from the road it is looking FANTASTIC at last,  loads of houses springing up, both large and small,  things really seem to be moving along now. The show house look as if it is almost completed, they were working on the garden wall, will keep you posted.