In the last 2 decades any foreigners have bought an apartment in Valencia. Some of them are actually using their apartment as a second home, and others are renting it out with a long term contract. But most of the foreigner apartments owners do not actually reside in Valencia and are facing major challenges due to Covid: How to manage their apartment from a distance?
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Dead plants and exploding letterboxes
Even the smallest tasks are a challenge when you need to manage your apartment in Valencia from a distance. All your precious tropical plants dry out and the letterbox downstairs works as a traffic sign to burglers.
Do you have have a friendly neighbour to help you out? A good neighbour is better than a far-away friend. If you are you are not lucky enough to have a friend in the building you need to consider hiring the services of a property management company. At least to empty the letterbox. Check out how much a service like this costs.
Be aware of safety hazards
It never rains in Valencia, but when it does, be prepared! Valencia has on average only 46 precipitation days a year, averaging several rainy days per month, ranging from 1 in July to 5 in October.
Every time it rains there is a risk of floodings. Buildings and infrastructure are not prepared for heavy rain. In the Dutch language there is a proverb that says: “You need to fix your roof during dry weather”. Well, somehow this piece of wisdom does not seem valid in Spain. After every “gota fria” (cold drop) the same problems keep on showing up, and many building administrations and insurance companies seem to lack a profound interest in fixing them.
For many foreign apartment owners in Valencia this is a constant source of frustration. Not only does it take ages to identify and fix the source of leakage or water damage, there is also the constant worry for the safety of the electrical instalation of the apartment. Especially owners of groundfloor and topfloor properties need to pay attention and need to check the state of their property after every heavy rainfall.
Humidity and mold problems are a constant threat as well, and are usually a real pain because they are often caused by poor maintenance by the building administration. So as an apartment owner you have to deal with several parties: your building administrator, your home insurance, the building insurance, and with your tenants.
Owners that do not live in Valencia often have no choice other than hiring a professional property management company that takes care of this. Find out here how much this costs.
Cherish your relationship with the neighbours
As a foreign apartment owner in Valencia you want to know what is going on with the building. However attending the community meetings is often impossible, especially in these coronatimes. You need to avoid that decisions are taken above your head.
Again, a good neighbour that will inform you properly after every community meeting, is better than a distant friend, but did you know that you can hire a property management company to attend the meetings on your behalf? Find out here how much this costs.
Is the kitchen painted already?
Did you start a refurbishment just before the corona troubles? Oh dear…
As much as we all agree that Spanish builders are lovely people, meeting deadlines is not their strongest point. In fact, Covid basically eliminated all kinds of deadlines, especially when you paid the builders upfront.
We can only image the frustrations of apartment owners that are stuck with a half painted kitchen. As much as we want to avoid the words “I told you so…”, you could have hired a property management company to coordinate the works. A positive note: It is never to late to hire assistance. Find out here how much this costs.
Take care of your tenant
If you are renting your apartment you have obligations and responsabilities as a landlord. In Spain apartments are often rented semi-furnished, meaning that the larger kitchen appliances such as washing machine, dishwasher, fridge, oven, etc. are often provided by the landlord. These machines need maintenance.
How water boilers also often break down. Or there is not enough water pressure to make them work correctly.
If you are renting your apartment with all expenses included than you have the additional worry of a stable wifi connection. After all, there is a high probability that your tenant is a digital nomad. This however is usually not an issue. Valencia, like most places in Spain, has an excellent infrastructure and (kind of) responsive internet providers.
And last but not least, if you are the owner of an AIRBNB apartment, you need to organize the cleaning and guest welcoming. It is obvious that Covid19 collapsed the tourist rental business, but you never know. You might need concierge services from a professional property management company.
Remain friendly with the Spanish and Valencian tax administration
Oh no, owning an apartment in Valencia is not for free. You have tax obligations on various levels. You need to pay ibi and Impuesto renta no residente (IRNE). So you need a gestor or a lawyer that takes care of this.
Do you have a gestor or a lawyer? If not, ask us for a quotation.
How much does Property Management in Valencia cost?
Nestor Property Management SL is the best property management company in Valencia. Nestor is part of the Globexs group. Clients can choose between hourly rates, flat rates and customized quotations.
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Or send us an email to firstname.lastname@example.org
Meet the Globexs - Nestor team
Nestor was founded in 2018 as a Globexs brand and offers property management solutions to apartment owners in Valencia.
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