“Apartment for sale with tenant”. This is how the sale of a home in Palma de Mallorca is announced on a well-known real estate portal. The offer details that the property, valued at 155,000 euros, has a lease contract for a period of four years, with a “guaranteed” monthly payment of 550 euros.
The housing crisis that threatens the archipelago has recently brought to the surface increasingly strident circumstances. Is it common practice to sell a home that is subject to a rental contract? The real estate agency is quick to answer yes. ““It is not the first case nor the last, either because the owner needs the money or because he is going to live abroad.”, he argues. However, she acknowledges that “no one has been interested” in the offer so far, despite it being “very attractive for its price” (it is valued at 155,000 euros for a living area of 85 square meters, in addition to having a balcony).
“Flat for sale with tenant.” / Mallorca Newspaper
Specifically, the apartment, as specified by the real estate portal in a brief description, has a “large” living room, kitchen, as well as three bedrooms and a bathroom (with a shower tray -specified-). In addition, he points out that the property of the house, located on Pare Jeroni Boscana street (Rafal Vell area), is “completely rehabilitated”. Of course, there is a detail that does not go unnoticed by many future buyers and that is that it is a third party without an elevator. Although without a doubt what creates more distrust is knowing that The apartment will be occupied for four years by a tenant who will pay 550 euros per month. A fact that – in the words of the real estate agency – makes many question whether the purchase will be profitable, since “it is very likely” that the price of the mortgage will be higher than what they will receive from the tenant.
Another fact to take into account, according to the real estate agency, is that due to this
, ““Under normal conditions you could get more performance out of it.” [por un alquiler]. Even so, the possibility is put on the table of, once the home is acquired, reaching a new agreement with the tenant and changing the conditions. All this if it is by mutual agreement, of course. Meanwhile, the “flat for sale with tenant” sign, with red letters and capital letters, remains hanging.