In the last 4 years we have rented more than 110 residential properties in Madrid. Throughout this time we have been able to understand many things about the dynamics of this exciting sector and today we want to share them with you.
The Supply and Demand Tension
Prospective landlords (owners) offer their homes on the market. Sometimes there have been times when supply outstripped demand and other times the opposite has happened. This tension, as in many other industries, determines the trend of the rental price.
Real Estate Websites
Future tenants (tenants) search through various means for the next home of their dreams, with real estate portals being the starting point for most. They are highly specialized websites, with various features that help navigate the home search. In Spain www.idealista.com, www.fotocasa.com, www.habitaclia.com, among many others, are popular.
In these sites the biggest problem is that sometimes there are possible scams. The Idealista team itself has a section dedicated to it. It is worth highlighting the cases of the American Soldier, the alleged Inheritance or the Princess of Burkina Faso, to name a few examples. If you want to find out more about the subject, we leave you its link: https://www.idealista.com/news/etiquetas/estafas-inmobiliarias?sf_ua=1
From Geräh Real Estate Partners we actively collaborate with these real estate portals to identify and reduce possible scams, and thus take care of our clients and other web users.
The Agreement: What Concerns Each Side
Landlords also have concerns. They want to find a solvent tenant willing to fulfill their contracts. Let them take care of their houses. They use different methods to feel more secure, in the end it is an act of trust. In this sense, there are a multitude of ways to specify the lease of a property, let’s see below a story of a house that we rented last week as an example.
It is a beautiful and special apartment located in Madrid that belongs to a dear owner client with whom we have worked for years. We know her work philosophy and we are related. They are very good people with whom we have a reciprocal relationship, give and take. We help us.
The new tenants are new clients that we will continue to help from now on. They are a couple and this will be their first home together. In this specific case, the rent was made with a guarantor because the boys had just arrived in Madrid with their jobs. We wish you from our company a lot of happiness and love in your new home.
The work of the professional
Helping people agree is a nice job. That is one of the greatest contributions that a Real Estate Agency can make to the rental market.
Sometimes the rents are “express” and the owner in just hours rents a house, other times a tenant takes months to get his home. Each rental is unique and will have its specific characteristics.
What’s coming in the next articles
As a final note of this article, we tell you that it is the first of a series that we will publish in our Real Estate Blog linked to the world of renting. Therefore, if you have rented a property recently or if you are thinking of renting one, we will have articles dedicated exclusively to tenants.
If you are the owner of one or more properties, you will also be interested to know that you now have free access to an e-book created by us called: “The ABC of the real estate investor”, which you can download by subscribing to our newsletter here.