Buying to rent:
a safe and profitable investment alternative
Espaciodoble can offer comprehensive investment advice to both large and small investors, including the entire purchase process and full rental management. A “turnkey” service, perhaps better called “money in your pocket!”.
Our broad knowledge of the market and extensive database allow us to always find the best buying opportunities that yield the highest profitability. The best opportunities don’t last very long, so you need to have someone professional monitoring the market who is capable of acting quickly at the right time.
Technical valuation of the property
Choosing the right property is key. We often prioritise the superficial elements and overlook other issues which are much more important, such as the technical and structural features of the property, which may later cause problems and financial losses. For this reason, at espaciodoble, we guarantee you the advice of an architectural consultant who will assess the state of the building, check that everything works properly, and review the structure, possibilities for refurbishment, the quality of the materials, etc.
The chances are you have several interesting options and don’t know which one to choose. The profitability study we prepare at espaciodoble will solve those doubts. We evaluate the final purchase price and all related costs, the investment required for repairs or improvements, furniture and redecorating, annual maintenance costs and taxes and the rental price you’ll receive for your property.
With all this information, we’ll calculate the percentage return for each of the investment options, so you’ll know which one to choose.
Negotiating the price and other issues
Once you’ve chosen the property you want to buy, it’s very important to know how to close the operation with a good negotiating strategy. On the one hand, you have to push the purchase price down as far as possible, because this can significantly increase the profit you’ll make. And, on the other, you have to come to an agreement with the seller about certain elements that may also be to your benefit: Who’s going to pay the notary expenses, and the municipal tax (IBI) for the current year? Will you be signing a deposit agreement beforehand or directly concluding the sale contract? How are the utility contracts going to be transferred? What are the payment dates and methods going to be? And so on. In our experience, we know that a trusted professional is in a better position to secure the best terms of purchase, since they know the process perfectly and won’t get carried away by emotions, or the haste that a prospective buyer feels when they find the house they want.
All agreements reached during the negotiation must be included in a contract duly drafted by a lawyer. You can rarely use a standard contract template because the circumstances of each sale are unique. At espaciodoble, we have expert property lawyers who will draft a specific contract for each client, with full legal guarantees.
The property registration certificate (nota simple), energy certificate, receipts for municipal tax (IBI) and residents’ association contributions, deeds, mortgage cancellation certificates… Purchasing a property involves a complex variety of documents. Our work includes all the necessary paperwork to ensure your peace of mind and convenience.
Getting the most out of your property
It’s obvious that the nicer the home, the higher the demand and the more rent you’ll get for it. In most cases, a little investment will make your property shine like the homes that appear in magazines, and our team of architects and interior designers specialise precisely in this. First you need to know who your potential market is, by age range and lifestyle (students, professional couples, families with children, older couples with more traditional tastes, etc.). Once we have an image of the future tenants, we can furnish and decorate the property to their taste, so they’ll fall in love with it at first sight.
As with sales, at espaciodoble, we’re committed to the highest levels of quality, professionalism and transparency. We’ll design an attractive advert with professional photos and a precise and detailed description of the property. We’ll deal with the people interested and manage visits to the property until we get the right price.
A reliable rental guaranteed
The tenant’s solvency and reliability are essential to completing a smooth rental process. At espaciodoble we know this and that’s why we personally interview potential tenants and demand a series of requirements from them. Once we’ve found the right tenant, we draw up a rental contract that is as detailed as possible to offer you the best guarantees.