Contents
What is Vacation Rental
It is considered as Vacation Rental (also know as Tourist Rental) that lease of a property in which the tenant stays for a maximum of 31 days and where the owner grants said tenants a furnished and equipped home for immediate use in exchange for a daily price. The usual purpose is to generate extra income for second-home properties that are rarely used, although it is increasingly a form of safe real estate investment.
This type of rental is widely used in tourist areas as an option for travelers' stays, but it is important to mention that these homes must be regulated by local regulations or, failing that, by the Urban Leasing Law, for the protection of the tenant and the landlord.
legal regulations
The dwellings that are going to be destined for Vacation Rental must be registered in registration of houses for tourist use where they will inform the owner of the minimum requirements that the property must have for renting it.
Depending on the location of the property, its rent may be governed by the Law of Urban Leases, but if the home is located within a tourist destination, it must be considered that these areas have special regulations that must be taken into account, since each tourist area has different regulations for the Vacation Rental.
It should be noted that all income received from this economic activity must be included in the statement of income, it is for this reason that the Treasury has established model 179, which approves that companies that mediate rentals such as airbnb o Booking.com provide information about the properties that have been advertised on their platform.
With this model, the Treasury will be able to verify in a much easier way the income declared by the owners who use these OTAs (OTAs (Online Travel Agencies or Online Travel Agencies in English).
Vacation Rental Management
The owner of the residence that will be used for Vacation Rental You must understand that you will become the owner of an economic activity and that, consequently, you will have to answer for everything related to it. This type of property can be managed directly by its owners or this responsibility can be delegated to a company, for example, as is the case of Property National, which carries out comprehensive management.
This type of company reviews the state of the home and inventory when the tenant enters and leaves, resolves any episodes that may occur during the entire term of the contract, monitors the payment of the rent for the home or cleaning after the departure of the tenant. This is what is known as check-in.
One of the most important procedures that must be carried out is that the owner has the obligation to make the corresponding communication prior to the start of activity before the City Council of the locality where the property is located, signed by the owner and by the company to which housing will be delegated, if applicable. It is essential to ensure that the planning of uses of the sector where it is located is not illegal, nor by the statutes of the community registered in the Property Registry. You must have all the permits up to date, as well as all the necessary conditions according to the Autonomous Community in which you are located, since these regulations may vary in one way or another.
The different regulations to carry out Vacation Rental of any type of property, depending on the tourist area where the house is located, has generated that there are too many doubts and errors when the owner places the property on the market, generating as a result that for a small confusion he has had to pay large fines .
Legal Aspects of Tourist Rental
When performing the Vacation Rental It is important to have certain legal aspects that will provide more seriousness and tranquility in the tenant-owner relationship, among which is the generation of a rental contract where everything related to the obligations and rights resulting from the use of housing is established in writing. .
It is important to notify in writing the guidelines according to which guests must behave. These rules are a very professional method of ensuring that everything is done in the best way; without generating any inconvenience to the property or the neighborhood.
As well as requesting a deposit that the tenant must grant to the owner as a guarantee that he will comply with the obligations described in the contract, its main objective is to provide the owner with the possibility of using it to cover possible damage or damage to the property, if not used, the amount will be refunded at the end of the reservation.
Insurance Vacation Rental It is extremely important because it covers the guest as well as the owner in any possible situation that may occur in this type of property. This policy is very different from the one used for a residential home that is not intended for Vacation Rental, so it must be contracted through a specialized company that provides an option that meets these needs.
Vacation Rental Rates
Finding the exact point to place the price of a property that is going to be used for Vacation Rental It is something very complicated, because if you set a very low price, you can lose money and attract tenants who may not take care of the property in the best way.
If the rates are too high, it is possible that not enough tenants are obtained to obtain an income that covers the minimum expenses of the property or to obtain dissatisfied tenants who feel that they have paid more.
By owning a property Vacation Rental all expenses such as mortgages, bills and taxes, cleaning services, emergency repairs, care of green areas, more long-term and intermittent maintenance costs, such as the replacement of appliances, paint the house or repair the roof among others; for in this way from there to calculate the fair price for the rent.
Likewise, it is important to take into account the prices of other properties in the area that have similar characteristics and services, in addition to knowing the high and low seasons of the region that will also affect the price. Any questions can be consulted with a professional in the real estate sector.
Once everything possible has been done professionally when renting a property, it is also advisable to cover possible risks with Home Insurance, specifically the Rent Default Insurance, with a solvent and trustworthy insurance company, such as Catalana Occidente.
Investing in tourist apartments in Córdoba
The current situation of tourist apartments in Córdoba and in Andalusia in general is one of transition and adaptation to new regulations. At European level, a new regulation is being finalized that will significantly affect the sector, with a special focus on data exchange and the prosecution of illegal tourist rental offers. This regulation, which is expected to be approved soon, will change the way short-term rental platforms operate, requiring them to provide authorities with detailed data on rental activities. This measure seeks combat illegal rental and provide transparency, which could influence the dynamics of the tourist apartment market in Córdoba.
With regard specifically to Andalusia, the Junta has implemented a new decree that allows town councils to limit the number of homes for tourist use. This change seeks to improve coexistence in cities with high tourist pressure and ensure the quality of the accommodation offer. Municipalities now have the ability to restrict the number of these accommodations in certain areas or periods if they consider it necessary for reasons of general interest. This regulation could influence the availability and location of tourist apartments in Córdoba, which is important to consider for investors.
In terms of investment, the tourist apartment market in Spain and specifically in regions with high tourist demand such as Andalusia, continues to be attractive. The volatility of the financial market and low interest rates on banking products have made real estate investment an attractive option. Investing in tourist apartments can offer a good return, especially in prime locations. However, it is essential to take into account local regulations and specific restrictions that may apply, such as the need for registration and compliance with certain standards of habitability and services.
For potential investors, it is important to stay informed about these regulations and adapt to market changes. The professionalization of the sector and compliance with regulations can offer a sustainable and profitable investment in the long term.
More information
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