If you are contemplating renting out your Spanish property for periods of the year when you will not be using it, you will need to think about who will manage the rentals while you are not there. Finding a competent local agent to handle the property for you is essential to ensure the tourists staying in your holiday let have a satisfying experience.
Property management companies offer several services, including:
Ask friends and other expats in your town for recommendations – a reliable property management company is invaluable if you want to rent to holidaymakers.
If you plan on letting a property to holidaymakers, you must consider the facilities people look for in a holiday home. Buying a property that is attractive to tourists will increase the amount of rent you can ask for, and the number of weeks it is occupied.
Popular attributes with holidaymakers include:
There are legal issues related to holiday lets that you will need to be aware of before buying a property with the intention of letting it.
There are restrictions on holiday rentals in many areas, not just on letting a private residential home to tourists but also marketing it to potential guests. Rules vary depending on the autonomous region where the property is located but breaking the rules anywhere can result in hefty fines.
In most regions, you are required to obtain a tourist license, which allows for short term lets. Each license has a number that must be displayed when you advertise the property online.
A license is not required for properties rented for periods of a couple of months or longer.
Note that when renting:
Be aware that advertising your property on Airbnb and similar sites is prohibited in some parts of the country, and regulations change quickly in Spain, so be sure to verify with local authorities what you can and cannot do.
You will need to consider the cost of insuring a rental property, as it will be higher than insuring a residential home. The price will vary depending on the type of property and policy. When enquiring about insurance, it is a good idea to check if public liability is included. Also, consider an accidental damage cover as it will help you protect your home and belongings against the actions of guests who may not be as careful as you are.
You can find out from the municipal town hall or tourist department what the laws are for short-term rentals in your area. If in doubt, take the time to seek independent legal advice. It is always better to be safe than sorry.