Long term renting a property in the Canary Islands normally means taking on a property for at least six months. Some owners maybe flexible on this if they have a property that they may long term let in the winter low season and then short term rent it for the summer high season month.
Rental payments are normally made monthly and in advance, plus a months rent as a deposit. The deposit is refundable if the property is left in the same order it was found in.
Many landlords these days prefer long term rentals to be paid by standing order bank transfers, this can also save a lot of hassle and time.
The main areas in the Canary Islands are in the main tourist towns as these are the areas with the most demand. So for example in Tenerife this would be the Los Cristianos areas in the south, in Gran Canaria it would be Puerto Rico, in Fuerteventura the most popular long term rental area is Corralejo and in Lanzarote it is Puerto del Carmen.
Finding your property to long term rent
Many estate agents these days also deal with long term rentals so it is well worth contacting a few to find out what they may have on their books. There are also a few agencies that have a whole side to their companies that specialise in long term rental properties. These companies will normally carry out all the liaisons with the property owner, any negotiations you may want to make on the price and other things.
Long term rental price guide:
Prices do vary a lot depending on the area, size of the property, quality of the property, level of furnishings and value of the property. It is well worth shopping around a bit to find the right apartment or house for you. Prices can vary a lot as will the level of furnishings and decor or each property.
Best times of year to find a long term rental property:
As a lot of owners look to maximise the income they receive from their properties many, as mentioned above, rent the properties for a higher short term income in the summer months so at the end of summer is a good time to find property for rent.
Furnished or unfurnished:
Most rental properties are furnished to the owners taste or budget. If you want to bring in your own furniture and are willing to commit to a longer renal period many landlords may be willing to take out some or all of the furniture in the property.
Pros and Cons of renting:
This is an age old debate and depends greatly on how healthy the property market is.
With the current state of the property market many people are more comfortable renting a property unless they already own. Because of the amount of properties on the rental market rental prices seem to be dropping slightly. But on the other hand the shrewd investor buys when prices are down not following the general trend of running scared but looking beyond this.
Areas to find long term renal properties in Lanzarote
You will find and appreciatte the largest selection of property for long term rental in Puerto del Carmen . If you are looking for tenants that are English speaking then Puerto del Carmen could be your best bet as a lot of bar and staff that work locally are always seeking accommodation. At the southern tip of Lanzarote you will find many a property for long term rental in Playa Blanca