GETTING IT RIGHT FOR TENANTS

There will be an overlap between the requirements for the owner and the facilities for the tenants. But the key marketing question for tenants is, ‘What is so unique about this property and why would they want to go there?’

At 40 million the population of Spain is less than many European countries. With 78 people per square kilometre it has one of the lowest population densities in Europe. 50 million people of all nationalities, but mainly British, visit Spain each year. Given that the Spanish too take many breaks the potential holiday letting market is massive. On top of that there are business and student lets!

Buy-to-let investors would do well to consider a location which is supported by the latest trends in Spanish tourism. The Spanish Tourist Board backs promotional and advertising initiatives heavily and these, if successful, present opportunities that are considered by holiday tenants. There is much of interest in the country that can be commended to the discriminating tourist as well as sun, sea and sand and sporting activities. Visiting churches, cathedrals or museums, admiring the grandeur of towers, bridges or walls, or just walking along the streets are invitations to travel through history.

Appendix 5 gives details of attractions, many brash, some natural, where today’s tourist is being encouraged to go.

Spanish tourist offices are excellent sources of information. They are well equipped with publications and information. Offices exist in cities, towns, and airports or near beauty spots. One very quick and effective method of obtaining information on activities and places of interest is simply to click on to each Comunidad’s web page. Everything you could possibly want to know about a region is instantly available – in English, worldwide, before you even leave home. Appendix 11 has a list of useful websites.

It is helpful to build up a profile of the type of person to rent a property. There may be more than one profile for a property, for example a holiday let and a business let in a Mediterranean city. It may be local people or people from overseas. It may embrace families with children, businessmen, professional or retired couples. Picture these profiles. Marketing is all about understanding what the customer wants and then providing it.