Intermediary Services – How does it work!

You have purchased a new holiday home (with us or with another agent) as an investment or as a second home for your family to visit.
Or after some years living in your home you decide to move elsewhere and would like to recuperate the expenses that the property incurs while not being used and perhaps some extra as a nest egg or to holiday free of charge in Tenerife.

Either way, we at Tenerife Rental & Sales can assist you with all your requirements as we have been successful Intermediaries in a professional manner for 14 years in Tenerife.

What do we offer

• –          Tenerife Rental & Sales is a dedicated short term rental property management company
• –          Offices on Parque Santiago 2, local 20, 30 and 40
• –          We employ our own professional cleaners dedicated to specific apartments.
• –          We do not “pool” linen and towels, they remain your property and do not leave the premises.
• –          We can arrange for Vv license application and compliance
• –          We assist with non-resident Modelo 210 tax declarations
• –          Our cleaners clean with Ultraviolet Germicidal lights with Ozone (0 pathogens)
• –          We inspect the property after each stay
• –          We are insured for any damage guests cause
• –          We are in personal contact with all guests
• –          We are available to guest 24/7
• –          We vet every guest on booking
• –          We carry out maintenance or renovation
• –          We have on-site technicians
• –          We work with channel manager software, preventing damaging double bookings
• –          We are present on more than 100 websites, such as Booking.com, Airbnb, Vrbo, Expedia, Homeaway, Google Vacation Rentals, HomeToGo, Tripadvisor, Holiday Lettings and many more
• –          We have Preferred Partner, Premier Host and Genius status.
• –          We offer luggage storage and shower facilities to guests for late travelling

The process

Usually, we start by interviewing the homeowner as to what the requirements are, once this is established and the apartments suitability for holiday letting has been verified, we move on to the requirements and the contract.

If no Vv license has been granted one needs to be applied for with the Cabildo and local Council.
We can do this on behalf of the owner, or they can do this themselves.
Apart from the charges for the license application, which depend on what documentation is available, the local Council may also charge a 1-time tax on registration.
We cannot manage properties without a license unless pending or apartments that have less than 325 days available (to us) annually.

We offer our services based on a flat rate, for most areas we know 3 seasons, Xmas, High and Low.
Flat rate means the price we agree with you is the price paid to you, we will add all other costs (OTA commissions, IGIC tax, cleaning fee etc.) to the price on the listing which will be paid by the guests.

For us to be financially successful in managing your property we always suggest a daily rental rate, this is based on other properties we manage on the complex or in the same neighbourhood.

As an owner you are not obliged to accept the price suggestions we give you, after all it is your property and you determine the price, but this would be at your own risk.

Once the price is established and a basic agreement has been reached, we request certain documents, and we will create the agreement.
The agreement is for a period of 12 months and auto renewable unless cancelled within the set period.

For the agreement and a possible Vv license application we need the following.

• –          Copy of ID for all owners
• –          Copy of NIE for all owners
• –          Copy of deed of sale (copia simple) or Nota Simple
• –          Full residential address
• –          Telephone number and Email address
• –          Authorization as key holder
• –          Authorization to apply for Vv license
•  IBAN Account number for a Spanish bank account
• –          Monthly financial report and payment
• –          Monthly reservation calendars

Once the agreement has been signed the apartment will be inspected for quality and correct inventory.
Next we take photos for the various websites and start posting the listings.

On average it takes a week or so to get a response in the form of an enquiry or reservation, on most sites 3 good reviews are required before there will be a higher ranking and visibility and can offer benefits such as Genius.

The application for the Vv license usually takes 5 days before we have the 30×30 sign printed that will be installed by the entrance of the apartment.
This is a legal requirement.

We report the reservations received at the beginning of each month at the same time we pay out the stays in the previous month.
We transfer to a Spanish bank account.

Minor expenses such as replacement of bulbs or sheets etc. will be reconciled on the financial statement.
Bigger expenses such as renovations or replacement of tv´s or furniture are always done after consulting with the owners.

Should you require more information, please do not hesitate to contact us for an appointment in our office or at your property.