1. Legal and Tax Requirements
Tenant Registration: In Spain, landlords are required to register all tenants with the police (Guardia Civil or Policía Nacional). This applies to both short-term and long-term rentals. The registration must include information such as names, surnames, dates of birth, passport numbers, and periods of residence of the tenants.
Taxes: All rental income is subject to taxation. If you are a resident of the EU, Norway, or Iceland, you can deduct certain expenses from your taxable income, such as utility payments, insurance premiums, repair costs, and other expenses (e.g., electricity, water, and gas bills). Non-residents are also required to pay taxes, including rental income tax and property tax, even if the property is used for personal purposes.
2. Financial Aspects
Deposit: For long-term rentals, you have the right to require a deposit equivalent to one month's rent. This deposit should be deposited with the local housing agency (Consejería de la Vivienda) to protect the interests of both parties.
Rent Increases: Any increase in rent during the term of the contract should not exceed the Consumer Price Index (CPI) or the inflation rate. The tenant must be notified of this in writing.
3. Property Management
Inventory: Creating a detailed inventory of the items included in the rental property will help avoid disputes at the end of the lease. The inventory should include all furniture, appliances, and other significant interior elements.
Property Maintenance: Regular technical maintenance and repairs will help keep the property in good condition and ensure tenant satisfaction.
4. Legal Support
Legal Consultation: It is advisable to consult with professional legal advisors for guidance on tax issues and other legal aspects of renting out property. This will help avoid legal problems and ensure compliance with all current regulations.
5. Advertising and Promotion
Marketing: To attract tenants, use various marketing channels, including online platforms, social media, and specialized real estate agencies. Good advertising will increase your property's visibility in the market and help you find suitable tenants faster.
6. Trust the Professionals
Expert Assistance: If you want to rent out your property quickly and at the best price, simply contact SOLO Marbella. Our experts will handle all the legal and preparatory work.