Long Term Rentals in Lanzarote
There are three main kinds of ‘domestic’ property transaction on Lanzarote – buying /selling permanent accommodation; renting out self-catering holiday accommodation for a short stay and long-term renting, typically for a minimum of six months. These three types of transaction reflect the needs and circumstances of three different kinds of client.
Long term rentals in Lanzarote is an attractive option for those visitors who:
- are considering staying indefinitely on the island and need accommodation for a longer period than the one or two weeks lets for holiday makers, but
- are not yet completely sure that the move will work out well for them and therefore do not want to commit to buying a property yet.
Long term rentals in Lanzarote can also meet the needs of both Canarian nationals and foreigners who don’t have the capital to buy a place yet and the contracts can sometimes be structured in such a way that the tenant has an option to purchase after a certain length of time. In this situation, long term renting can lead on seamlessly to the purchase of permanent accommodation.
Long term rentals in Lanzarote are of interest to the owners of property because although they bring less income than short term holiday lets, they require a much smaller investment of money, time and effort than is needed to market, maintain and support repeated, short holiday rentals. It is therefore possible to find such properties even in the complexes alongside the beach.
Long term rentals in Lanzarote?
Is also a way for owners of property not on the seafront or within a short distance of it, to let property that may not appeal to many holidaymakers but is fine for tenants who either own or hire a car and are happy with a location that allows them to get to the beach or seafront facilities with a ten minute drive but, equally importantly, get away again, back to a more peaceful location, when they’ve had enough for now.
Property for long term rent on Lanzarote is accordingly often situated in small settlements on hillsides above the coastal strip, including the expat ‘capital’ of Tias (where you might not be understood in some of the shops if you speak in Spanish) and other villages a bit higher up. As a result, many of the properties enjoy stunning views over the coast and out to sea. In contrast, the town of Arrecife, despite being the capital of Lanzarote and physically adjacent to the largest holiday resort – Puerto del Carmen – does not appear to be a popular location in which to rent long-term accommodation.
All kinds of property are available for long term letting, from economical studio apartments to family sized villas with private pools, at prices ranging from €350 to €2,000 per month with bills not included in monthly rental price.