This depends, among other things, on the location and size of the property, as well as how much it is used. Electricity and water are variable costs.
IBI – IMPUESTO SOBRE BIENES INMUEBLES.
This is an annual municipal tax that everyone is required to pay, regardless of whether they are residents or not. The amount of tax varies depending on the value of the property. It is calculated based on the assessed value of the home. In the province of Alicante, IBI is paid through a company called SUMA. It is common to pay IBI via direct debit in the bank (Domiciliación bancaria).
TAX FOR NON-RESIDENT PROPERTY OWNERS
Read more HERE
RECOGIDA DE RESIDUOS SÓLIDOS – Municipal waste collection fee for rubbish
As the name suggests, this is a fee for the removal of rubbish. The amount of the fee and the payment deadline vary from municipality to municipality.
COMUNIDAD – COMMON EXPENSES
When you live in a co-ownership in an urbanisation or in a block of flats, you must pay your share of the common expenses. The amount of the fee varies depending on which services are included in the joint ownership’s responsibilities. The fee is calculated based on the square metres of each property, as well as each property’s percentage share of the common area.
INSURANCE
There are countless insurance companies in Spain. Not all of them have case managers who speak languages other than Spanish. Our advice is to use an insurance agent with whom you can communicate. You should read the insurance terms and conditions to see what is covered and what is excluded. Some companies require you to notify them if your home is unoccupied for more than 30 days or if it is rented out. If you have items that are individually high in value, most companies require that this be specified in the policy in order for it to be covered. Be careful not to be underinsured. If you have stated too low a value, the compensation will be correspondingly low in the event of damage. If you own a property in a co-ownership, please note that the co-ownership’s insurance does not cover damage within your walls. Your insurance must cover your liability to third parties, for example if a water leak damages your neighbour’s apartment. When taking out insurance, the agent and the company are just as important, if not more so, than the price itself.
