Renting your La Manga Club villa can be an excellent way to bring in some extra money for those times of the year where your property isn’t occupied. Given how readily British residents are willing to get away from it all during the Spring and Summer months, putting your villa up for holiday renting seems like something of a no-brainer! But before you can welcome your first renter, there are several things that you must do to prepare. Read our top tips to put you in the best possible position to let your La Manga Club home with confidence:
Tell the TaxmanAn obvious but vital start to the process if you already own a property, but one that must be carried out, nonetheless. You must inform HMRC that you’re planning on letting out your villa, as any income that you receive might need to be taxed. The Government require you to detail and report income over £2,500 when completing your self-assessment forms, but even if your profit is below that mark, we’d still strongly suggest contacting HMRC to save yourself a problem down the line.
Claim your allowancesOne of the benefits of letting out a holiday home is that it counts as trade as opposed to an investment, which means that you will be taxed in a more beneficial fashion. Investigate to see if you’re able to claim Capital Allowances on furnishing and equipment alongside Capital Gains tax reliefs. Certain criteria must be fulfilled to be eligible for these reliefs, including making the property available for a minimum of 210 days per year and letting it for over 105 days per year, with no single guest staying longer than 31 days.
Prepare for your guestsWe at Marena Murray Property strongly advise you to make use of your knowledge of the local La Manga Club area when letting your property. Little things, like leaving leaflets or your own suggestions for local attractions or the best places to go out for a bite to eat are a big help for visitors who aren’t familiar with what’s on offer. Leave things for their use, like beach equipment if you know that a family with children will be staying, or simply make sure a small gift is there for when your renters arrive, like a bottle of wine or some local chocolates.Little touches such as these might seem inconsequential, but attention to detail such as this will make your guests’ stay pleasant and earn you a good reputation and reviews. Better ratings will always make people sit up and take notice, and eventually give you just cause to up your prices.Keep your property in working orderIt’s not always easy to pick up on every little detail whilst making a flying visit to your home, so we recommend staying there every now and then to get a feel for the place and any improvements that need to be made. Of course, if you’re unable to take the time to visit your property, let us do the hard work for you! Our highly-proactive property management services can help to make sure that your villa stays in perfect working order whilst you aren’t in residence and that each guest enjoys a hassle-free stay.Make use of our expertiseMarena Murray’s Rental Income Generation Program is the perfect way to get the most out of your holiday villa. We’ll advise you on how to make your property more attractive to guests, any suggested home improvements and managing the marketing, promotion and bookings for your property. To find out more about how we can help, please click here.
