Your Spanish holiday home is probably one of the best investments you could make. If you do not intend to stay there long term, an excellent way to cover the cost of the property is to consider letting for either long term, or shorter holiday periods. You can make a substantial income on your investment or just cover the annual costs associated with the ownership of a property. You should, however, be aware that there also an amount of hard work involved!

On first entering into the property rental business, you are obviously going to worry about getting a good return on your investment, and a bit anxious at the prospect of having strangers in your home and making use of your possessions. It can therefore be tempting to furnish and equip your property 'on the cheap' in the hopes of avoiding costly repairs and replacements.

However, based on experience, this is not a good idea. People generally expect their holiday home to be comfortable and well equipped, a 'home from home', and are more likely to look after your property if they feel you have gone out of your way to make them feel welcome. It is often the simple things, like flowers on a table, that can achieve this.

Good quality furniture that can be easily cleaned, or washable covers will help protect your suite from suntan oil, or food and drink stains. 'Personal touch' items such as vases, pictures, books, and ornaments, should be on shelving set high enough to avoid accidents and small children. Some items, such as videos, microwaves, and satellite TV are regarded as essential, so this should be bourn in mind when furnishing the property. The rates you charge for your property should echo the standard of your furnishings and equipment.

Kitchens should always be fully equipped, with ample cutlery, glass, china and cooking utensils. Coffee pots, tea pots, juicer, microwave, iron & board, and a washing machine should also be provided. A tumble dryer and dishwasher may also be deemed as essential by some.

A poor quality mattress is enough to ruin anyone's holiday! It is essential that both beds and sofabeds be of good quality and comfortable. Bedrooms should have sufficient storage space, both drawers and wardrobes, with hangers provided.

There should be no shortage of bed linen and towels - preferably 3 sets - so there is always a set for emergencies and changeovers. Spare tea towels and tablecloths should also be provided.

A complete inventory should be made of everything in the property. This inventory should be checked at the end of each rental and if necessary any deductions for items missing or broken can be made from the damage deposit. You can even take photographs so in the event of a problem you have an unquestionable record of how your property looked beforehand.

House rules should be typed out and left in a prominent spot in the property such as on a hallway table, a kitchen worktop, or even pinned up on the wall. It is also a good idea to leave a 'Guest Manual'. where visitors can leave their comments or complaints. It can be useful in helping you to know their suggestions for improvements.

Local information, maps, places of interest,restaurants and a local contact information should either be sent to the guest beforehand, or left in the property as well as emergency contact numbers for doctors, dentists, hospitals and police. Practical information on how everything works in the property, rubbish disposal, gas bottles etc. should also be provided for your visitors.

Providing a "welcome pack" of groceries can be much appreciated by visitors, particularly those arriving late at night.

In the first instance, you should prepare all your paperwork and standard stationary. This can be held on computer with most of the correspondence being dealt with via email. You should also start with a full inventory of the property.

You will at least need, a booking chart or availability calendar, a filing system, with files for each individual booking, a spreadsheet for all your accounts and payments, and some standard stationary for responding to enquiries, plus a welcome letter and a follow up letter. Set a definite changeover day so you do not end up dealing with part weeks that you cannot book.

Enquiries and Bookings. . . It is important to respond swiftly and enthusiastically to rental enquiries - especially those that come via email as Internet users expect quick results. Thank the enquirer for showing an interest in your property and send a confirmation of the availability, answer any specific questions, and suggest they book quickly to avoid disappointment.

If they decide to go ahead and book, send a follow-up pack with further information, booking and payment conditions, arrival times, etc. You can also use this reply to ask a few questions about the guests, or you may wish to make a telephone call as it may reveal a lot more about the person and his booking party - you may decide these are not the kind of people you want in your property! It is unwise to ignore any rental enquiries, even if your property is booked for the period in question - they may come back to you with an alternative date or even year!

A booking should not be confirmed until the deposit payment is received. This can be made via cheque of bank transfer. Booking deposits can be anything between 20 - 50% of the rental cost. If the holiday is booked less than 8 weeks before the date of travel, it is advisable to request full payment. A booking confirmation form should be sent upon receipt of payment.

Approximately 8 weeks before the date of their arrival, you should send a reminder to request the balance, plus any refundable damage deposit you have asked for. On receipt of the balance payment, you can then send out any maps, local information, directions to the property and keys etc.

Ideally, if you, or a representative, welcome your guests, show them round, and explain how things work, it can avoid all sorts of problems and questions later. Someone should also check the property when your guests leave, to make sure no damage has been done, check the inventory and read gas or electricity meters if necessary and to return the damage deposit.

Maintenance and Cleaning . . .The key to a successful holiday rental business is in the cleaning and maintenance of your property. This aspect should never be under-estimated!!

It is essential that the property is thoroughly cleaned with all bed linen, and towels changed between every rental. Make sure you have conscientious and reliable cleaners who will keep your property in pristine condition, and make sure that essential supplies such as toilet rolls, soap, washing up liquid etc. are available for when guests arrive. They can also prepare the 'welcome pack' if you provide one, and put fresh flowers on the table. Your cleaners should also be prepared to visit the property mid-week if either the owner or the renter requires it.

If you do not live local to your property, it is always a good idea to take out a Management/Maintenance Contract with a local company, or alternatively, to find a trustworthy friend or 'handyman' that can act as a property manager. However, this is not always ideal as it could put a lot of pressure on your 'friend' if things go wrong. The property should always be exceptionally well maintained whilst being used as a holiday let and you will need a reliable person to check that everything is working correctly. The property manager (or local company with whom you hold a contract) should: check the property weekly, arrange for the cleaning between lets, collect keys, shop for supplies and the welcome pack if necessary, tidy up the garden and swimming pool and be available to sort out general problems. The Manager should also be able to contact emergency plumbers, electricians, or repair man should the need arise during a rental.

All these things should be taken into consideration when buying a property for holiday letting, and never forget there is a considerable amount of work involved in managing the whole business yourself, but if you decide to do so, we wish you luck in your new business.