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Welcome to Elite Property Spain’s monthly newsletter

January 2009

Here at elitepropertyspain.com we try to bring important information to our client’s and readers about issue that are happening in Spain. This month we are concentrating on Rental Accommodation and what is required by the Spanish Authorities from the person renting their property out either as a Holiday let or a Long Term Rental. As we all know the dreaded “ Credit Crunch” as hit Countries all over the world and Spain is no different, with both small and large building firms going to the wall, the Spanish Authorities have seen a sharp downturn in building licence applications and a large upturn in Holiday and Long Term Rentals. And the purpose of this months Newsletter is to firstly make people aware of what is required by the Authorities and secondly, what you need to know when renting.

 All apartments, townhouses and villas which are rented out to tourists should be registered with the tourism authorities. According to reports, tourism and tax authorities are clamping down on unregistered rental properties and owners face fines of up to €30,000 if they are caught. Property owners could also face the wrath of the Spanish tax authorities if they are living in Spain and  not declaring their rental earnings.

For the person renting, the best  place to find your rental property is through the local estate agents and their websites as you will have to sign a contract giving both you and the owner protection and peace of mind. You will no doubt see properties advertised in the local papers at cheap rates, but please beware as most of these do not come with a contract and if you are thinking of opening say a bank account or mobile phone contract you will be required to produce a rental contract as proof of address.

If you require any further information or help in finding a rental please contact us

peterjennings@elitepropertyspain.com

Ring us on 0034 697 221788
CC Guadalmina II, Local 2, Guadalmina Alta.29670
San Pedro De Alcantara Marbella.