At Blue Key we help foreigners buy an apartment in Valencia. But once you have bought the apartment, how do you manage it? That is the exact question that we are going to answer in episode 4 of “How to buy an apartment in Valencia”.
This article is the 4th episode of a serie of 4 articles about how to buy an apartment in Valencia. Previously we talked about “how to search for an apartment in Valencia”, about “legal assistance during the buying process“, and about “how to make money on rentals in Valencia“. Now it is time to talk about “how to manage your property“. Stay tuned!
Property Management Valencia
Do you own an apartment in Valencia but you are living abroad? Depending on whether you are planning to rent the apartment or not, you need more or less property management services.
There are several things to consider when you are planning to rent out your apartment, especially if you are thinking about jumping on the tourist (short stay) or expat market (mid-term) (see part 3 – “how to make money on rentals in Valencia“): You need to furnish and decorate the apartment, and hire an agency for the concierge services: guest reception, housekeeping, cleaning and maintenance tasks.
But even if you are not planning on renting out your apartment you still need a property management company (if you physically are not living in Valencia yourself). Somebody needs to attend the neighbour community meetings, and you probably need help with your tax declarations. It is great to own an apartment in Valencia, but it comes with responsibilities.
Foreign apartments owners in Valencia who rent their apartment to tourists and expats are in need of concierge and housekeeping services. Expat and tourist rental apartments are fully furnished apartments, with everything provided such as plates, glasses, towels, bedlinen etc. These things break or need replacement. These are the concierge services that the apartment owners need to take into consideration:
- Check-in and check-out processes
- Deposit collection
- Small maintenance jobs
- Apartment cleaning and linen change
- General trouble solving
These concierge services can be time consuming especially for AIRBNB – apartments. Plenty of people and companies in Valencia are offering this kind of services. Usually they charge a % of the rent.
Legal and fiscal obligations for apartment owners
Apartment owners in Valencia have to deal with challenging legal and fiscal matters: Community meetings, complaining neighbours, tax declarations, etc. This can be quite a challenge, especially if you are a foreigner and do not speak perfect Spanish. And if the owner is not physically living in Valencia it becomes impossible to keep everything under control.
- Tax declarations: If you are an apartment owner in Valencia you need to pay Ibi and taxes. You must be well informed and assisted by a gestor.
- Neighbour community meetings: This is where the action happens! Not really the nicest way to spend your evening, but it is absolutely necessary to attend and let your vote count. If you cannot go yourself you should hire a property management agency to represent you.
- Construction works: Does your building has structural problems and the coordination with the neighbors is not as fluent as you would like? Or are the workers who are renovating your apartment letting you down? You need a property management company to assist you.
- Trouble with the neighbour. Are your neighbours difficult to get along with? They probably are… You need to know what your rights and obligations are.
Renovating and decorating your apartment
Good property management agencies help you renovating and decorating your apartment. Once you have bought an apartment and you want to rent it out, you need to prepare it. Expat and tourist rental apartments are fully furnished and equipped. Most of the Globexs / Blue Key customers are foreigners that do not live in Valencia and they hire Nestor to decorate and furnish the apartment.
- Painting of apartments
- Furniture removal
- New furniture reception and installation
- Building a new kitchen or bathroom
- Changing the layout of an apartment
- Purchase of kitchen equipment, towels and bath linen
Nestor, the best Property Management agency in Valencia
Nestor was baptized in 2018 as a brand of Globexs (Global Expatriate Services SL). The people behind Nestor and Globexs are Lodewijk Cuypers (Co-founder and Senior Property Investment Consultant) and Tiscar Navarro (CEO and Property Investment Lawyer). Tiscar and Lodewijk are supported by a fantastic team that operates from our head office in Valencia, and from our Antwerp branch.
Nestor was founded to offer specific property management solutions to apartment owners in Valencia. Click here to schedule a free appointment. Do you own an apartment in Valencia but you are living abroad? Nestor helps you manage your apartment from a distance.
Nestor also helps owners prepare their apartment for rentals. They assist with renovations and in the webshop owners can buy everything they need to prepare their apartment for rentals.
Why foreign investors prefer Valencia over Madrid or Barcelona
At Globexs / Blue Key we have written several articles already comparing Valencia to Madrid or Barcelona. Personally I am still convinced that Valencia is the best place to invest in Spain, because it is simply the best place to live in Spain. Of course that is a very personal opinion, and we totally respect people who disagree with this. We are also very fond of the north of Spain, and we love Gijon and Bilbao. They are great cities with lovely people but the weather is not great. Valencia seems to have it all: Metropolitan city, low crime, beaches, fabulous climate, large expat community, reasonable property prices, etc…
In this Blue Key blog you can read the article “Why foreign investors prefer Valencia over Madrid or Barcelona“, in which Clive Welland talks about the property prices, the local government and main attractions in Valencia. One of the most popular Globexs blog posts is “Why is it better to live in Valencia than in Madrid or Barcelona“. This article was first published in 2017 and updated in 2020. Another popular post talks about the “Pros and cons of moving to Valencia“. The Globexs group (Globexs – Nestor – Blue Key) has become a platform where people can exchange useful information for expats and digital nomads in Valencia The Facebook group “expats living and working in Valencia” is a meeting point for newly arrived and established expats.
The full circle
At Blue Key we help foreigners buy an apartment in Valencia. We close the circle for foreign investors with a customized service from A to Z.
1. Property search: We explain to our customers how to buy an apartment in Valencia. We explain the process and the steps to follow. We guide you in your search and tell you which areas to prefer or avoid, and we give you an idea of potential rental income.
2. Legal assistance: Our lawyers guarantee a minimum risk investment. You need an independent lawyer in Valencia when you buy an apartment. At Globexs / Blue Key we are independent from all real estate agencies and therefor we are in the best position to cover your back and minimize the risks.
3. Return on Investment: Gobexs’ core-business are mid-term expat rentals. Once you have bought an apartment in Valencia we can offer it to potential tenants and give you a decent return on investment.
4. Property management: We maintain your apartment in Valencia in perfect conditions, even if you do not use our rental services. Our sister company Nestor is a property management company that handles cleaning, maintenance works and decoration of apartments in Valencia.
Get in touch with Nestor / Blue Key
It is easy to get in touch with us for advice on property management Valencia: Send us an email to firstname.lastname@example.org, or simply pass by our office in Ruzafa (Calle Pintor Salvador Abril 35, Valencia).