First time owners of Property in Tenerife, Canary Islands, Spain.
If you have not owned property in Tenerife before, please read this guide to managing your Tenerife property.
Much of it may seem obvious, but some of the simpler stuff is very important in Spain.
If you are not sure how you are affected by the new laws please feel
free to contact
for more information on handling this.
Existing Tenerife or Canary islands property owners.
We will always be pleased to hear you comments and suggestions on improving this guide, we must ensure new owners
get the benefit of our experience as owners of property in Tenerife
- Most owners want to know what bills to expect will be. The list below show what to expect, although not all of them may apply
to a particular owner or property, and the price ranges are a fair guide for Tenerife and the Canary Islands generally. They will of course, depend largely on the property and usage.
- Community Fees (60.00 -80.00 Euro's month)
- Rates (120.00 - 200.00 Euro's per year)
- Insurance (90.00 - 120.00 Euro's per year)
- Water, (25 Euro's per month), Electricity (40 Euros per month), Gas, Telephone
- Taxes, Accountant (150.00 Euro's per year)
- Management (if applicable)
Accordingly, the main points covered here are -
- Insurance - Security
- Utilities (Water, Electricity, Telephones, Gas etc)
- Renting, Cleaning, Management
Importance, extra ordinary payments, insurance cover
2. Insurance - Security
importance of having own
Those not paid before
contracts, gas, STO problems
Fiscal rep, tax,account
The law now requires you to appoint a fiscal representative who is a legal resident (with a Residencia) who can be contacted at
any time by the authorities. With constant changes in both the Civil Law and Tourist Laws, it is imperative you use someone who
knows, and understands what is going on at every level.
6. Renting, Management
Law says .....
If you already own a property, or are thinking of buying a property in Tenerife, it is now important to have it properly managed.
It is no longer appropriate to use a local, usually illegal, 'Mrs Mop' for 'just having the apartment cleaned and looked after'.
There are some good management companies around. You should choose one
which will clearly offer -
- Cleaning services - reliable and to high standards.
- Tax Paid Holiday Lettings - as appropriate within the new law.
- Legal Status - Don't use 'a friend' without a licence, inspections are now made.
- Proper Accounts - to ensure acceptance and minimum taxes on submissions.
- Secure Key Holding - services and frequent security checks.
- Maintenance - by reliable contractors - not 'wide boys'.
- Contact Point - for your guests or anyone staying in your apartment.
- Fiscal Representation - Advice on getting creative Accounting & Tax representation.
- Community - Represent your views and interests with the community office.
- Confidentiality - Owners interests are private and confidential.
- Well informed Advice - there's plenty of advice about, but rarely well informed.
- Advise you explicitly on anything which could affect you as a property owner.
We do not publish precise details of our management services because our management, which are
tailored to meet the needs of individual owners. The effectiveness of our service depends on a close
working relationship between ourselves and our owners.
If you fail to find a satisfactory property management company and wish to know more about our services,
please call by our office personally.