What To Look For In Spanish Holiday Rentals
As somebody from the UK and not very conversant with specific real estate laws of the land in Spain
, it can become quite confusing when you wish to buy property with the object of renting it out when you are not using it. Many Britons have found the going tough when they were subjected to fine for having not taken a license prior to renting out their holiday homes in Spain and with the legal interpretation being twisted by the broker to sell to unsuspecting investors from the UK and other countries, there is an air of uncertainty.In a survey conducted recently, close to 82% of Britons were not sure about whether they would require licences to rent out the property they have already invested in Spain. You therefore need to be very careful when looking for Spanish holiday rentals and understand property laws fully before investing.
The reason is the rather complicated distinction made by Spanish property authorities between those considered 'tourist apartments' and those considered as 'holiday homes'. The tourist apartments fall under special category and are deemed to have been built specifically to rent out to those visiting Spain as tourists. These are usually part of a complex with basic conveniences and are managed by a single company. The holiday homes on the other hand are thought of as private residences to be let out to people on a holiday for a temporary period.
However, this fine distinction has been manipulated and the rules contravened by property brokers who have sold tourist apartments to many Britons as holiday homes and that has confused many individuals now owning such properties and has made them wonder whether they would require licences to let them out on rent.
The issue gets complicated further when you have different rules applicable depending on where the property is located. One opinion is that if the property is on the mainland, no licence is required though this again may not be true for different areas within the mainland due to regional restrictions that come into play. You would for instance need to register if you own a property at Murcia and can even be fined but at Andalusia, you only need to keep the local authorities informed and better still in Valencia, you are not expected to do anything at all. It thus appears that things are pretty case specific and you have to clarify your position with your solicitor.
If you are however looking for Spanish holiday rentals in the islands, the laws prevalent make it impossible for you to rent legally to any tourist. In Balearics for instance, you are allowed to rent out only designated official 'tourist apartments' and no 'private residential apartments' can be rented out. Again if you have an independent villa and have taken the licence, you may rent it out.
Notwithstanding these stipulations, many private residential apartments as well as villas have been put out on rent as seen online and since a lot of them belong to Britons, they do stand the risk of getting fined.
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