There is a growing trend among younger generations in developed countries to rent dwellings, as opposed to taking on mortgages.
Either forced by high prices or simply due to the convenience and flexibility of seeing housing as a service more than like a heavy investment, there is now Generation Rent.
Perhaps two of the most flamboyant words in the dictionary. Their meanings, well… you certainly wouldn’t want to find out when you are close to purchasing or selling property!
It is election times again, not just in UK or Spain, but also very soon in the USA and with all the presidential campaigns; I cannot help but think of communities of properties.
In fact communities of properties are pretty much the same. They have annual general meetings and elections. They have a budget, general expenses, fixed income and unexpected costs. There are also different groups of people in all communities and each
Millions of families across Spain, including a good number of expats, have contracted mortgages with interest rate floor clauses (“cláusulas suelo”, as they are commonly called in Spain), which prevented them from taking advantage of the very low mortgage interest rates which have occurred due to the decline in the Euribor rates since the financial crisis started in 2008 (The Euribor is currently at 0,32%).
At the end of January 2014 beginning of 2014, Presidents of Urbanizations attended the Presidents Club at Urbytus. The event was well attended by Presidents from Mijas Costa, Alhuarin to Marbella.
There’s a lot to be said for living in a ‘community of owners’. Communal costs are shared so you get to enjoy facilities like gardens, pools, and tennis courts for a fraction of the cost. But at times like this, when the economic going gets tough, many we spoke to at the last
From the tablet we use to browse the Internet to the mobile phone that can do a myriad of functions to a car which can park itself, technology is making our lives easier and more fun. In our homes, technology can also save us money by reducing our bills.
By using solar hot water tanks, solar panels and wind turbines we can reduce our impact on the environment, cut our bills and even make money by feeding energy back into the grid. Obviously Spain’s sunny climate makes it ideal for solar energy and as a minimum a water tank on the roof can produce very hot water in the summer months without a big investment.
By using smart technology like a smart thermostat, blinds and windows, your home can regulate its temperature appropriately when you need it, so you won’t be heating or cooling an empty house. You can even use sensors to judge the light levels so lights are only used when light is low and when there are people in the room. There are lots of amazing smart home options available, five of which have been pulled out in this informative article on smart technology to save you money.
Paper is used extensively in homes and around urbanisations for cleaning, printing, communication, packing and much more. But paper manufacture is a huge drain on the world’s forests, not to mention a high user of energy and a polluting manufacturing process.
Using recycled paper and recycling the paper you do use is important to minimizing depletion of forests and there are lots of handy tips to reducing paper use at home and in the office. However as a community president you can lead the way by dramatically cutting the amount of paper you use and saving money by switching to online communication methods.
Use a community website to conduct polls, share ideas and information and improve communication. Having a website everyone can access rather than a notice board will dramatically reduce the amount you have to print out and will improve communication because owners can be in touch no matter where they are.
Urbytus is committed to helping communities to save paper and cut costs by rolling out our Online Community Management (OCM) software. OCM is a multi-lingual web-based solution designed to make the job of managing and living within a community easier. It allows effective, paperless communication between owners, the committee and administrators. Owners can advertise properties for sale and rent, access information and share their problems easily. The Community President and Administrator have access to easy to use management tools which can significantly reduce their workload.
Through this software we are already helping around 2 million owners to reduce their use of stamps, envelopes, paper and ink, saving them around 1.2 million Euros. We estimate that we can save large communities up to 15,000€ and help them to be more environmentally responsible. Please contact Urbytus to find out more.
There’s a lot of demand for short term rentals during the peak season and demand for long term rentals is growing. For decades foreign homeowners in Spain have been renting out their properties at a low level and enjoying the extra income it brings. However there is a really low awareness of Spanish laws amongst these landlords which has led to mistakes and oversights which can have some scary consequences. As a Community President, it’s important to be up to date on these issues so you can properly advise your owners.
For instance, most of the homeowners renting their properties short term are not aware that they should actually be declaring the income and paying tax on it. The Spanish tax authority is now clamping down on this unpaid tax which has been estimated to be €104.8 million in the Malaga province alone. They have joined forces with the electricity companies to be able to prove that there is consumption during periods that the owners are not in Spain, therefore it must be being rented – crafty!
Renting out your Spanish property is an obvious way to recoup your investment, cover the costs of mortgage payments and community fees and if you are currently unable to sell, allow you to make money from your property whilst the market recovers.
Owners have the option to choose short term rentals, ideal if you wish to use the property during the year but aren’t tied in to the peak seasons of Easter and Summer. There’s a lot of competition for rentals in the peak season but there are some properties which are more in demand, such as large villas with pools. If your property is desirable for holiday makers it can be highly lucrative, but can be a pain to manage. It’s also apparent that the tax office is cracking down on unpaid taxes for holiday rentals and owners are required to declare their income and pay 24% of income made by rentals.