We purchased our apartment, off plan, on the Punta Marina, Punta Prima, Torrevieja in 2006 (I think) :) The aim was, as with many, to invest in this lovely Country and in the process make some money. It didnt cross our minds that the 'Fairy Tale' was going to be a 'Nightmare'. Nor that just 2 years down the line practically the whole World be hit by recession, or even, dare I say depression!!
The plan was to rent the property to help pay the mortgage. Naively thinking that hoards of friends and family would love the opportunity of using the apartment as a fairly regular holidaying place. WRONG!! Hardly anyone showed interest and even less enquired about using it. I think maybe the word 'FREE' may have been key to them. Sorry you don't 'Get Owt for Nowt''
Anyway, we were pleased with the apartment and the area. So. through sheer hard work (tenacity and bloody mindedness really) we managed to rent it out for large chunks of the year.
We had one not to be forgotten experience, when our so called Management Company, totally let us down. We ended up with a long term tenant owing several months rent. Not only that, but on finally getting rid of them, we discovered a lot of furnishing had gone too. Lots of rubbish was left on the solarium and of course the place was filthy. We remonstrated with the Management Company with this regard as they were acting for us but to no avail. They wouldn't even get the police involved, as I considered it to be theft of the furnishings. Their reasoning was these people didn't break in so it couldn't be theft??. Needless to say the Management Company are... well SACKED!! So going down the Insurance route was a no go to offset some of our loses :(
As we are based in the UK which is never good when things go wrong. You cant just nip down the road to sort things.
We now have a key-holder and I do all the filling of the apartment via various means. I've even had an email recently asking if I could help some other owners with letting their apartments. I find this flattering, and am quite willing to give a helping hand, although of course no guarantees. It takes an awful lot of time and commitment. Sometimes I just want it all to go away and then other times I find my fight again and continue with working at my 'challenge'.
If I could turn the clock back would I do it again...... resounding 'NO' :)