HOLIDAY RENTAL PROPERTY LICENCES TO BE DECIDED BY THE COMMUNITY

HOLIDAY RENTAL PROPERTY LICENCES TO BE DECIDED BY THE COMMUNITY
March 6th brought into effect the new law in Spain regarding property rentals.
While most of the law deals with Long term rentals, there is a major change to short term.
From March 6th 2019 a community of owners can vote to allow or not allow owners in their community to rent their property for holiday lets.
The vote must be passed by ¾ of the owners.
The same ratio will be required if the community choose to charge owners of holiday rental properties a higher community fee.
This measure IS NOT RETROACTIVE, so if you already have your property registered for holiday rental, no need to panic.
If you don’t and plan to short term rent in the future, get your VFT number before your community vote.
This is the first sign of VFT rental registrations being limited. The idea has been suggested before, to cap the number of ‘licences’ registered.
Depending what side of the fence you are on it boils down to this.
Owners who don’t rent and are fed up of badly managed rental properties in their community can now do something about it.
Owners who do rent, but have no VFT registration before their community votes, can be denied the option to rent, by their community, should their community vote against it.
LCPSpain forecasts this to be quite a hot topic.
If you are buying a property with the ideal of holiday rentals, check out the community law before you sign on the dotted line.
A registered property is a more desirable purchase
For more information on registering your holiday rental property
Send an email to [email protected] or Call +34 648088100