renting to family

could people advice what discount they give to their families and friends and if they have different prices for friends and people they just know by contact thanks

Everybody will have a different view and opinion depending I guess on their circumstances and whether or not they need the income from rentals. EOS provided a little while ago an article on how to maximise rentals and one of the key things I picked up was that you must take care not pay for people's holidays unless you want to be a mug.

We completed on our apartment in December 2009........ we have a mortgage on it and where ever we can we need to rent it......... we decided that we would not do" mates rates" during high/peak season.......... Therefore we told close family and friends who asked, that they can rent it at list price.......... if they want a deal we would only reduce the rent at the last minute.......... we give 4 weeks as last minute... but that does not apply to high season......

I have also asked key family and friends to join us for long weekends or short breaks when we are there obviously at no cost as they will be our guests........

We took this approach as we felt this was the best way not to fall out with any body....... it is not being mean it is being commercial and sensible. When I win the lottery they all go for free............

I have also said that if anyone refers us a booking, I would give them 10% off the weekly rate if they booked to use our place....... if the referral was for high season then the discount could apply to high season, if the referral was for low season then their discount would be for a booking for low season.........

We do try where possible not to mix business and pleasure

Hope that is of use

Nichola makes some valid points, and it does all depend on if you need to make a charge for 'rent'. I couldn't charge close friends and family, but I expect them to pay for the costs. Otherwise, as she says you end up paying for their holiday and that would make you resentful after a while. The electricity when the air con is on all night soon mounts up, so I expect them to pay for electricity, and also the final clean. I don't bother with water as I have monitored this in the past and its just a couple of euros a week. Bear in mind I am talking about very close friends and family, people who I would be happy to have living in my house with us any time. Colleagues, friends of friends, etc I might offer 10% off the normal rates.

 Hi, To avoid any difficult questions we have a separate leaflet for friends and family and has a hefty discount compared to our advertised prices of around 33%. When you consider there is no marketing costs and charges to be paid it is a fairer price and we leave it up to them if they want to clean or pay for it. We took the decision not to allow anyone to go for free as there is lots of costs involved and wear and tear on the property. It is surprising how many think they can go for nothing! Kevin

We could not imagine asking family or friends for money,it would be against what I hold sacred. We find that in life you usually get back what you give .

If you had to charge it would be a personal thing and would depend upon your circumstances and theres,and as for creating a leaflet ,well that really would be unsuitable. It would be like charging your son interest on a loan.

So kenshaz, you wouldn't ask for the price of a cleaner, or something towards the electricity or the other running costs? Not even the marginal costs? I'm sure most in your family are happy to use your property and you no doubt have many repeat visitors year after year. You are lucky to be in such a good position to bestow gifts on all those around you! lol! I'm sure they all do. No doubt you pay for their flights and car hire as well.

They pay for the cleaning ,nothing for electricity or running costs. Flights car hire is their concern. No one takes advantages,we are not that sort of family.

 You didn't read your message before posting it then! Not so sacred!

Sorry to disagree. The replies that you have given tell a story. I would say that long term we will win . Think about it.

** EDITED - Abusive **

Not everyone's situation is the same. I think that how you handle renting to family depends on the size of your immediate and extended families and also how you are fixed financially will determine how you handle whether or what to charge.

Using Kenshaz's model in the case of a large family, i.e., parents,inlaws, five or six siblings, five or six siblings inlaw, nieces and nephews, your  own three or four children  and  their families, would soon see the place needing re-furnishing and decorating.

It would  leave you with few vacant dates to use it yourself. And  the price of the airfare might be a problem after paying those huge power bills when, thinking if you can afford to let them use the place free of charge then you won't be concerned if they use a little electricity, they leave the air-con on day and night with all the windows open.

On the other hand , Kev's model would appear tight if you only had a couple of children and you enjoyed a comfortable income.  

Someone on a modest income, with a bolthole type of property could not be expected to provide free-gratis accommodation whilst themselves making economies to maintain the property.

Of course,if you have the means then go ahead and spoil them all you like.   

Kev

I sort of agree with you that it sounds as though family are taking advantage of their generosity, but that was a bit harsh!

Dave

 fultond, At the start someone asked what others did with family rentals? A reasonable question to ask. However kenshaz has almost vilified me for posting a honest answer. Their last missive;_

'Sorry to disagree. The replies that you have given tell a story. I would say that long term we will win . Think about it.'

I have no idea what they are on about! I have not committed a crime against humanity. I ask my well off friends and family to contribute towards the running of the property by reducing the rental I easily obtain on the open market by a large amount. I am not in a contest but giving an open and honest answer to a question posed by carolandrichard. Oh, and to those of my friends and family that can't afford to go away we take them with us. Although what that has to do with kenshaz I have no idea.

kenshaz should have told us what they did. They have no right to comment on my actions. I did not invite them to review my answer. kenshaz seems to have some kind of religion as they hold this 'sacred'. What do they hold sacred? You have to wonder about their ability to comprehend basic English.

I refer to my earlier post on this topic in that

"Everybody will have a different view and opinion depending I guess on their circumstances and whether or not they need the income from rentals " We do....... desperately.

I have  asked key family and friends to join us for long weekends or short breaks when we are there, obviously at no cost as they will be our guests........outside of my invitation they will have to rent it.I come from a large, loving and generous family but not a rich one.......  I am not mean and my family and friends totally understand............ anyway they would much rather come as our guests and enjoy our company......... and as I said before when I win the lottery they all go for free............

Kev has arranged his matters as he sees fit for him, likewise for kenshaz....... although with your generosity Kenshaz, I would love to be your friend......

I seem to have it a raw nerve with Kev. I  just stated what we do.Why are we wrong for not taking money ? It  is our choice and we have the right and the right to talk about it.

I also agree with the other posters .Sandra has put forward some valid points.

Nicolaraho my best friend. Is it August or July you want?

I don't mind.............. I 'll take whatever suits.

We normally stay in Spain for two to three month's at a time. We have had a lot of family come to stay with us but would not dream of charging them.  But they make it up to us in other ways like taking us out for the occasional meal and other small things.

Everyone's circumstances are different if people are staying with you I do not see how you can charge them as we are all using electricity and water, but that is my opinion. 

Kenshaz can I be part of your family as well?  I would like September??????????

Take care

 Kenshaz, No, sorry you haven't hit a raw nerve. It is the condescending manner you made comment on what I did. It was and is not welcome. I stated what I did. You were the one to ridicule what I had said. Then follow it up with all sort of vague references  like 'long term we will win'. Get yourself a life mate and don't make comments where they are not wanted or welcome.

By the way I would certainly not like to be part of your family, those poor soles! End of!

Kevin . I have a wonderful life ,a wife that I love dearly,children that I adore and another grand-child on the way in July.The tone of your posts is as if you are attempting to bully me into accepting your views. I have Christmas with our family left for you.

Pat & Roy September is taken,but October is free, Will we be picking you up at the Airport?

Nicolarahah. We have booked you in for a week in July. We will get you a welcome pack.

 It is a great pity that some one on here can't remember what they said before. That's rich the bully claiming to be bullied! All I have to say is good bye. That is being polite.