Some extra income is always welcome!
Mallorca is indisputably the best holiday destination in the Mediterranean thanks to the excellent infrastructure and services, the flight availability from all major European airports and last but not least, the fantastic accommodation offers including the wide selection of luxury properties for rent. The trend is very evident: more and more visitors to the Balearic Islands are looking for total privacy and independence during the most precious week (or weeks) of their year – during their holidays. They are turning their backs on hotel accommodation, preferring to rent a villa, a country retreat or a trendy penthouse instead and these clients are prepared to pay for a full service to rightly enjoy their vacation to the limit.
Therefore, more and more owners of Mallorca villas and apartments for sale have decided to generate income by renting out their properties whilst they themselves cannot be on the island. Apart from covering all yearly running and maintenance costs, the Mallorca properties for rent achieve a reliable and regular annual profit. Experts at our sister company, Balearic Villas, have all the necessary information regarding how to go about obtaining the approved license needed if you wish to rent out your finca or villa for sale after you have purchased the property of your dreams.
The laws in Spain and on Mallorca are constantly changing, and due to the latest tendencies of increased inspections and controls, owners of Mallorca properties for sale who wish to rent out their villas or town houses must ensure that all documents legally required for renting the property are in place.
Every property that offers touristic rental on the Balearics needs to hold a touristic license, a document that is issued by the islands’ tourist authorities (ATB). The ATB (Agencia de Turismo de Baleares) is an independent body that regulates all touristic activities within the Balearic Islands. Owners of Mallorca properties for sale who rent out without a license, run the risk of being fined 3.000-12.000€ if they get caught out – a sum much greater than the actual rental license costs! The tourism authorities will charge you with a fee for registering your start of activity and this will come at a cost of approx. 200-300€. Then, once the final license is in place, a yearly charge of about 30€/occupant per year will be applied by the authorities.
A touristic license can be obtained by all rural- and town houses that are not horizontally divided, meaning 1 owner per property only. Apartments, or other horizontally divided multi-owner properties, can not obtain a license and are limited to seasonal renting according to the Spanish Law for Urban Rentals (L.A.U. - ley de arrendamientos urbanos), furthermore, they are not allowed to offer any additional services during the tenants’ stay such as mid week clean, gastronomic / reception services etc.
The process of obtaining the legal stamp of approval so that you can rent out your villa or town house for sale without any worries is simple and again, here our experts at Balearic Villas can always advise and assist. The tourism authorities issue licenses after having received the following detailed documentation:
Once the rental license of a villa or finca for sale has been applied for, it can take anything up to approx. 3 months before the stamp of approval is granted. Therefore, once you have decided that you also wish to generate income by renting out your Mallorca property for sale whilst you are not in residence, best to apply immediately for this license!
No matter if you want to sell or rent your property, it makes sense to come and talk to us because you want the most experienced and reputable company to represent and assist you!