Your in luck, I did my TEFL at TTmadrid (Say hello to Natasha for me) and I was very happy with the experience. I highly recommend them.
And Steve is correct, loads of work teaching English, main problem is getting bulk hours, classes tend to be 8-9 1-2 and 6-7, plus loads of time bouncing around the metro. When looking for work try to get things that are well connected, nothing wastes time more than having to make metro connections.
Most teachers also do the flat share thingy as rents and are pretty steep here.
_________________________
Be Canadian Eh, that's for all you American out there:)